Richard D. Fairbank, chief executive of Capital One, received a bonus valued at $5.68 million in 2013, a 30 percent increase from the year before, according to documents filed by the McLean-based banking giant Monday afternoon.
In all, Fairbank received $18.8 million in compensation in 2013, the company said, a 7.5 percent increase from the $17.5 million he was paid in 2012.
Fairbank was the third-highest-paid executive in the Washington area in 2012, according to a survey conducted for Capital Business by the research firm Equilar.
The bonus was comprised of $2.84 million in shares of Capital One stock and $2.84 million in deferred cash, the U.S. Securities and Exchange Commission filings show.
Capital One last year posted a 18.25 percent increase in profits, as earnings grew to $4.16 billion from $3.52 billion the year before. Shares of the company, meanwhile, rose 25.12 percent to $76.61 from $59.53 during 2013, lifted by large gains in the broader stock market.
For the current year, Capital One has approved a compensation package totaling $17.5 million for Fairbank, the company said in the filing.