(Bloomberg) -- Morgan Stanley said former Chief Financial Officer Ruth Porat is eligible to receive restricted cash and stock that was valued at about $28 million at year-end as she departs for Google.
The bank's board agreed to vest Porat's outstanding awards as of April 30, the New York-based firm said Friday in a regulatory filing. She was eligible for $14.1 million in unvested restricted stock, and $13.8 million in total deferred compensation as of Dec. 31, according to a company filing last month.
After 28 years at the firm, Porat, 57, said in March that she was leaving for Mountain View, Calif.-based Google, which agreed to pay her $70 million after she takes over as CFO this month. Jonathan Pruzan, 46, who replaced Porat, will receive an identical $1 million annual base salary, Morgan Stanley said in Friday's filing.
Wesley McDade, a spokesman for the bank, declined to comment on the awards.
Morgan Stanley shares have slid 3.3% this year to $37.51 in New York trading.
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