So, while options issued by Goldman and JPMorgan have been exercised for significant gains, those issued by Bank of America, Citigroup and Morgan Stanley have languished and have or will expire worthless.

Bank of America Corp.’s top executives are sitting on the right to buy 400,000 shares of the bank’s stock at $54, a perk handed out by its board a decade ago.

Problem is, the stock trades around $24.

And today, those stock options are set to expire worthless - a sign of the lingering effects of the financial crisis and the huge gap between banks that have recovered fully from that era, versus those still far from the targets set during Wall Street’s better times.

Unlike executives at Goldman Sachs and JPMorgan Chase, whose options have by and large paid out, Bank of America CEO Brian Moynihan this week will forgo 200,000 options, which accounted for about 20% of his total pay for 2006.

So, while options issued by Goldman and JPMorgan have been exercised for significant gains, those issued by Bank of America, Citigroup and Morgan Stanley have languished and have or will expire worthless.

• Of 182 sets of options issued by the five largest Wall Street firms since 2003, more than half have expired worthless because the banks’ shares were trading below what executives would have had to pay to take hold of the shares.

• The best options batting average belongs to Goldman. Out of seven options series the bank has granted since 2003, five have expired and all of them were in the money on their expiration dates, though about $200 million worth of options that expired in late November needed the stock-market rally that followed the 2016 presidential election to give them value.

• The group laggard is Morgan Stanley. Just one of its 19 options grants since 2003 ​that have expired ended up in the money, though 2 set to expire next year are comfortably in the money.

• Over the same period, Bank of America executives saw about 90% of the 8.1 million shares underlying their option grants expire worthless. The BofA options that expire Wednesday were granted in February 2007, a couple of months after the Charlotte, N.C., bank’s stock hit what would prove to be its all-time high of $54.90. Mr. Moynihan was granted the options as part of his pay for 2006, when he was running the bank’s wealth-management business.

Options are being phased out across Wall Street in part because more shareholders have viewed them as ill-fitting for banks whose executives should be worried about taking excessive risks. The 5 largest Wall Street firms have stopped issuing options altogether; the last was Morgan Stanley, which gave out five-year options to top executives in 2013.