Brian Moynihan. Bobby Yip/Reuters Bank of America CEO and Chairman Brian Moynihan received a $16 million compensation package for 2015.

That's a 23% raise from 2014.

His compensation includes a $1.5 million salary, unchanged from the year before, and $14.5 million in restricted shares, half of which will vest over time and half of which are performance-based.

Moynihan's total pay package last year was $13 million.

He did not receive a cash bonus in 2015 or 2014.

Bank of America's share price dropped nearly 6% over the course of 2015. The S&P 500, by comparison, dropped 3.5%.

Last fall, Moynihan won a proxy battle over whether or not he could retain his "chairman" title in addition to his CEO role.

In the end, 63% of shareholder voters were in favor of him keeping both titles.

In January, Bank of America reported full-year earnings that were its highest in nearly a decade.

The firm reported full-year net income of $15.9 billion.