CHARLOTTE, N.C.–Bank of America said it plans to award $1 billion in stock to non-executive employees through its “Sharing Success” program, equating to nearly 19 million shares of BofA stock.
Bank of America CEO Brian Moynihan told Fox Business the program makes employees feel like partial “owners” of the company during an interview at the World Economic Forum in Davos, Switzerland.
“Our Shares for Success program goes to 96% of employees. It doesn’t go to executive management. It’s a grant to all of them,” he told Fox Business.
Nearly $7 Billion Paid
This is the ninth year BofA has issued Sharing Success awards, with total payouts nearing $7 billion since the program launched in 2017.
According to Fox Business, the billion-dollar price tag for this year’s awards follows a year of strong growth and financial results.
In the interview, Moynihan credited the Trump administration’s “big, beautiful bill” for reinforcing expectations that corporate tax rates will remain stable, giving businesses greater confidence to make long-term investment decisions.
The stock awards are provided on top of employees’ regular compensation and incentives — roughly 96% of the bank’s 213,000 employees are eligible for the program, according to the company.
‘Shared Success’
Moynihan said the program reflects the bank’s belief that shared success strengthens both the company and the communities it serves.
“We are proud to continue investing in our people and reinforcing a culture of shared growth and achievement,” Moynihan said in a press release.
Bank of America also said in a statement that it is working to implement Trump accounts for its employees and clients.
