Had dinner with a few Citi friends (VP's and associates) this weekend and the story is as follows. Apparently Citi will tell the public they paid a significant portion of the compensation in stock (~20-30% in cash and the rest stock) and not cash.
The reality is that 70-80% of it will be in cash or stock with very short vesting (April 2010). They expect so many employees to be selling stock that they are analyzing having someone in the banks provide support for the stock that day in April.
So what the public will hear: Citi pays compensation with 70-80% stock component.
* Citi pays 20-30% in cash
* 40-50% in stock that vests in 2 months
* 20-30% in typical long term deferred stock
Did not get a sense of absolute levels but everyone at the dinner was happy.