July 17, 2017 / 12:15 PM / 4 days ago

BRIEF-BNY Mellon says Scharf's compensation will consist of annual base salary of $1.25 mln

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July 17 (Reuters) - Bank Of New York Mellon Corp

* Bank Of New York Mellon - on July 13, co entered into an agreement with Charles Scharf establishing his compensation as CEO

* Bank Of New York Mellon - Scharf's compensation will consist of an annual base salary of $1,250,000

* Bank Of New York Mellon - Scharf's compensation will also consist of a 2017 target incentive opportunity of $15,250,000, a portion of which is pro-rated

* Bank Of New York Mellon - in connection with his employment, board awarded Scharf performance share units equaling $11.4 million

* Bank Of New York Mellon - additionally, Scharf awarded restricted stock units equaling $1,754,000 as RSU component of his 2017 long-term incentive Source text: (bit.ly/2u0Xwb0) Further company coverage:

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