Wells Fargo & Co's board of directors have awarded chief executive Timothy Sloan $12.8m for his work last year, a 17% increase, according to a proxy filing.
This is despite the bank scrapping its executive bonuses in light of an accounts scandal that rocked the bank last year.
Sloan was CEO for only a few months in 2016. He had been president and chief operating officer of the bank until October.
He took over after his predecessor, John Stumpf, resigned in light of revelations that thousands of Wells Fargo employees had opened perhaps millions of unauthorised customer accounts.
Though Sloan's promotion came with a higher base salary and more long-term stock awards, his total package was less than the $19.3m Stumpf received for 2015.
Wells Fargo reached a $185m settlement with regulators in September over creating what it then said could be as many as 2.1 million accounts in customers' names without their permission.
The third-largest US bank has since encountered more government probes and lawsuits, and its board recently said an internal review may uncover more problematic accounts.
The board plans to release its findings ahead of Wells Fargo's annual meeting on April 26, where shareholders will vote on matters in the proxy, including the election of directors, executive pay and shareholder proposals.
This year's proxy includes a proposal submitted by a group of mostly religious-affiliated activist investors who want the board to produce a report into the root causes of the sales scandal.
Employees have said they were pressured by supervisors to hit aggressive sales targets that were ultimately put in place by top management.
Shareholders also submitted proposals urging the bank to consider divesting businesses, prepare a report on the gap between what it pays men and women and adopt a policy on the rights of indigenous people in light of its involvement in financing the controversial Dakota Access Pipeline.
Wells Fargo's board urged shareholders to reject the shareholder proposals.
Responding to the call for the root cause report, the proxy stated that the Wells Fargo board believes the topics that would be covered are already being addressed by other reviews underway.
