CNN BUSINESS | Jamie Dimon awarded hundreds of millions of dollars to stay at JPMorgan for the foreseeable future

New York (CNN Business) – JPMorgan Chase really, really wants CEO Jamie Dimon to stick around.

The investment bank awarded Dimon 1.5 million stock options on July 20 — priced at the average price of JPMorgan’s stock on Tuesday, according to a filing with the Securities and Exchange Commission. Today, that’s an award worth more than $220 million.

But here’s the catch: Dimon won’t be able to exercise the options. They’ll start to vest on July 20, 2026, and he must hold the shares until July 20, 2031. By then, the shares could be worth much more — especially if it has a few more years like this one. JPMorgan’s stock is up nearly 18% in 2021. —read more—