Mark Oman, who oversees the mortgage division of Wells Fargo, has been granted a "retention" bonus in the form of stock that is valued at $5 million, according to a statement made by the company.

Wells says the "grant" is not a form of cash compensation and has strings attached to it: Oman will forfeit the shares if he leaves the lender to join a competitor; the shares do not vest for three years and only if Wells meets certain performance goals.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.