Brian Moynihan, CEO of Bank of America, was awarded a sharp increase in pay for 2011 - a year of turbulent transition for the bank.  Mr. Moynihan, while not the highest paid executive cited in the bank's proxy that was filed Wednesday, received one of the biggest raises - except perhaps for Citigroup's Vikram Pandit.  Moynihan's 325% spike in pay raised his 2010 earnings of $1.9 million to $8.1 million for 2011. BofA, now the 2nd-largest bank in the U.S. behind JPMorgan Chase, saw its shares drop below the psychologically-important $5 level at one point.  During his 2nd year at the helm, Mr. Moynihan aggressively sold off non-core assets and built up capital levels.  This led to a sharp rise in the price of bank shares in 2012 - which, in turn, rewarded investors. Other Executive Payouts. Co-COO Tom Montag, who also heads Bank of America Merrill Lynch, earned more than $14 million.  CFO Bruce Thompson, who's a close ally of Mr. Moynihan, made more than $11 million. Most of Mr. Moynihan’s pay — $6.1 million — was in the form of stock grants that vest only if the company meets performance yardsticks over the next 3 years.  Another $950,000 comes in the form of cash compensation, in addition to $420,524 in other pay, including for flights on company aircraft.  In addition, $604,698 in pay stemmed from an increase in the value of pension assets. Optimistic BofA Outlook. Bank of America shares have rallied partly on optimism about the outlook for the United States economy, as well as in the wake of the bank’s passing the recently completed stress-tests ordered by the Federal Reserve.  Unlike other competitors, such as Citigroup, Bank of America did not attempt to raise its dividend or buyback stock, preferring to retain capital as part of Mr. Moynihan’s call to build a "fortress balance sheet." Click for referenced story:  [Dealbook, 3/28/12].