Now that Wells Fargo (WFC) has paid back its TARP funds, it has a little more leeway when it comes to executive bonuses. It has announced it will pay chief executive officer, John Stumpf and three others grants worth about $25 million collectively. But, in a nod to the times, it will pay all of that in stock; no cash bonuses will be paid for work rendered in 2009.

The bank also stresses that the so-called retention performance shares are not annual incentive bonuses. The retention performance shares will vest only after three years, and will not be vest-able if the executive leaves for a competitor.

This is not likely to spark any real controversy. It's akin the Goldman Sachs' (GS) move to pay its top 30 executives similarly. This could prove to be a big win for executives. The stock would appear to have room to run over three years. 

For more:
- here's the release

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