Citi offered stock sops to top execs

NEW YORK: Citigroup Inc gave stock incentive awards to executive-committee members excluding top officers, who declined payouts after the bank lost three quarters of its market value and accepted $45 billion in US bailout funds.

The awards begin to vest if the share price more than triples during the next four years, the New York-based company said in a US Securities and Exchange Commission filing.

Chief Executive Officer Vikram Pandit, 52, Chairman Win Bischoff, 67, and Chief Financial Officer Gary Crittenden, 55, declined to be considered for the awards in December.