The awards for Pick, Co-President Andy Saperstein and incoming Co-President Dan Simkowitz are based on fair value calculations based on the bank's current stock price. The awards are linked to their performance and vest in 2027.
Earlier this week, Pick won the race to succeed long-time CEO James Gorman and promised to stick to the blue chip Wall Street firm's strategy as it navigates a deal-making slump and uncertain economic outlook.
