ESOPS IN BANKING 02 2022
SITUATION:
Need to really engage bank employees in the bank’s performance;
SOLUTIONS
97% of BofA Employees received Stock Awards;
May well be that companies will be awarding stock or offering Options in future;
Eligible employees with annual total compensation up to $500,000 will receive restricted stock units
Employees will get between 65 and 600 restricted stock units.
The shares vest in equal payments over four years starting in 2023
SOURCES:
Full page ad in LAT
Payday at BofA: Bank Gives $1B in Stock Awards to Employees
2) ESOPs: A Powerful Tool for Closely Held Banks
https://www.lexology.com/library/detail.aspx?g=1d4e0c2e-6653-4187-bba5-9f037d1a1356
