Wells Fargo & Co. awarded Chief Executive Timothy Sloan $12.83 million in compensation for 2016 after he took over the embattled bank this fall following its sales practices scandal.

Sloan received $2.33 million in base pay, with a bonus that included shares valued at $10.5 million. He, along with seven other executives, didn’t receive a cash bonus this year compared with $1 million Sloan received for 2015 and the $4 million that his predecessor John Stumpf received in cash bonus that year.

The lack of cash bonus along with up to 50% reduction in certain stock awards for 2016 was meant to reflect the $185 million fine the bank paid last fall for opening as many as 2.1 million accounts using fictitious or unauthorized customer information. READ MORE