MCLEAN, Va.--Capital One has approved $40 million in total compensation for CEO Richard Fairbank in 2025, a roughly 19% increase from the $33.5 million he received in 2024, according to a Securities and Exchange Commission filing reported by BankingDive.
The package includes a $2.5 million restricted stock unit award and a $37.5 million year-end incentive award. That incentive component consists of $24.8 million in performance shares, a $6.7 million deferred cash bonus payable in the first quarter of 2029, and $6 million in cash-settled restricted stock units that vest in February 2029.
In June 2025, Capital One’s compensation committee also granted Fairbank a one-time award worth about $30 million tied to the company’s acquisition of Discover. The board has already outlined the framework for Fairbank’s 2026 pay, which will again be linked to the $669 billion-asset bank’s performance. Fairbank, who co-founded Capital One in 1987, will also be eligible for a 2026 performance-based incentive payable in early 2027, BankingDive said.
The $40 million total places Fairbank among the highest-paid bank CEOs. JPMorgan Chase raised Jamie Dimon’s compensation to $43 million, Wells Fargo increased Charlie Scharf’s pay to $40 million, and Goldman Sachs boosted David Solomon’s to $47 million. Capital One also adopted a new policy limiting future severance arrangements for named executive officers to 2.99 times base salary plus target bonus unless shareholders approve a higher amount, BankingDive noted.