Bank of America to give stock awards to rank-and-file workers
FILE PHOTO: A Bank of America logo is pictured in the Manhattan borough of New York City, New York, U.S., January 30, 2019. REUTERS/Carlo Allegri
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(Reuters) — Bank of America Corp (NYSE:BAC) will give stock awards to most of its global workforce for a sixth consecutive year, the company said in a memo to staff on Tuesday.
The second largest U.S. lender will award company shares that vest over four years to 96% of its almost 217,000 workers, according to the memo, which did not specify the amount of shares that would be given out.
Eligible bank employees who earn less than $500,000 a year will receive the stock awards, while a smaller number will get cash payments, according to the memo.
