Make Kitco Your Homepage

Bank of America to give stock awards to rank-and-file workers

Kitco News

Jan 24 (Reuters) - Bank of America Corp (BAC.N) 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.

Reporting by Lananh Nguyen; Editing by Leslie Adler
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.