Barclays Capital supremo Bob Diamond has been awarded the shares under a new incentive plan for the years 2010 to 2012, the bank's annual report said.
Mr Diamond also earned more than £20 million on the sale of his stake in the group's fund management arm last year, although his huge rewards have acted as a lightning rod for criticism over industry pay.
Finance director Chris Lucas could also land £1 million under the 2010-12 scheme if the bank achieves profit and shareholder return benchmarks, although chief executive John Varley declined the award.
Mr Varley and Mr Diamond recently waived bonuses for the second year in a row despite a 92% hike in annual profits to £11.6 billion - driven by a stellar investment banking performance at BarCap and the sale of Barclays Global Investors.
The bank acknowledged in February's results the "intense public interest and concern" over pay - although the annual report also revealed big payouts for the duo under previous incentive plans.
Mr Diamond - who has a much lower £250,000 basic salary but has the potential to earn higher awards under share schemes - picked up 800,000 shares after tax for the bank's performance during the 2007-09 period with a current market value of £2.9 million.
Mr Varley, who had a basic salary of £1.1 million in 2009, was also granted 165,000 shares worth almost £600,000.
This scheme was set up before the industry was forced into an overhaul of pay practices, after criticism of the bonus culture which encouraged banks into riskier positions before the financial crisis hit.
Both men have however voluntarily signed up to clawback arrangements for two years following the award and will repay the value of the shares if performance conditions have not been meet. ( source: Press association)
http://www.amazon.co.uk/shops/Shoppingforest
