Verizon will give its non-top management employees 50 shares of restricted stock. The price will be set February 1.
Verizon Chairman/CEO Lowell McAdam told CNBC on Tuesday about 155,000 employees would be affected. Yesterday morning, he told analysts on the company earnings call that “employees will further share in the company’s success,” following the passage of corporate tax reform legislation.
The carrier expects savings of around $3.5 billion to $4 billion, Inside Towers reported. The award could total more than $400 million, reported CNBC. Verizon shares traded around $52/share on Tuesday.
January 24, 2018
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