Employee Benefits News examines legal developments that impact the employee benefits and executive compensation employers provide, including federal and state legislation, rules from federal...
Lincoln Financial Group is giving certain employees a one-time stock grant following a “record-setting” 2017, a move that will result in 100 percent of employees owning company stock, the company announced Feb. 28.
All “non-officer” level full- and part-time employees will be offered a one-time grant of 20 shares of company stock, a company spokesman told Bloomberg Law. This offer is partially because of high earnings in 2017. Those earnings include annuity sales of $6.7 billion, an increase of 8 percent from 2016, and net flows of $1.3 billion for retirement plan services, up 137 percent from 2016, according to Lincoln’s fourth quarter and year-end earnings.
The grant is being made available to about 92 percent of Lincoln’s employees. The remaining 8 percent are “primarily officer level employees who already receive equity as part of their compensation,” the spokesman said.
Notify me when updates are available (No standing order will be created).
Put me on standing order
Notify me when new releases are available (no standing order will be created)