Discover Financial Services' Chairman and CEO David Nelms received a pay package worth $9.9 million last year, down 28 percent from 2011 mostly due to the lower value of his stock awards, according to a regulatory filing Friday.
Nelms took home a base salary of $1 million, the same as the year before. He received a performance-based cash bonus of about $3.1 million, down slightly from 2011. The value of his stock awards plunged to $5.8 million from $9.6 million the prior year.
Nelms' also received a company contribution to his 401(k) plan last year valued at $17,500.
Discover Financial's President and Chief Operating Officer Roger Hochschild also saw his compensation fall last year because of lower stock award value. He received a pay package worth $6.1 million in 2012, down from $9 million the year before.
R. Mark Graf, the company's chief financial officer, received total compensation of $3.5 million, up from $2.5 million in 2011. Graf joined Discover in April 2011, so his salary, stock awards and pension value all increased in his first full year at the company.
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