NEW YORK (Reuters) -– JPMorgan Chase & Co, which reported $11.7 billion in profit in 2009, awarded Chief Executive Jamie Dimon a compensation package worth about $16 million.

Bankers' compensation has been a hot-button issue amid the financial crisis, as the U.S. government spent billions in taxpayer funds to prop up the banking system. JPMorgan, which in the summer returned the $25 billion it received from the U.S. Treasury, said Dimon, 53, will not take a cash bonus for the second year running.
The 195,704 shares Dimon received on Wednesday are restricted until January 2013, while the 563,562 so-called stock appreciation rights or options expire in January 2020 and have an exercise price of $43.20, according to an SEC filing.
The 195,704 shares were worth about $7.9 million at the market close on Wednesday.
Dimon's total compensation for 2009 will be higher than last year, when he also did not get stock or option awards, but it is a far cry from the almost $30 million in cash, stock and options he received for 2007.