Bank of America has announced it will distribute $1 billion in stock to employees through its Sharing Success Program. The program, which excludes senior management, will provide nearly 19 million shares of BAC common stock this year.
This is the ninth year that Bank of America has given these awards, bringing the total distributed since 2017 to about $6.8 billion. According to the company, this follows another year of strong growth and financial performance.
Ninety-six percent of employees are eligible for the Sharing Success awards. These awards are given in addition to regular pay and incentives. Most recipients will receive their award as stock, which allows them to participate in the company’s long-term performance and aligns their interests with those of shareholders.
“These awards demonstrate our belief that when our teammates share in our company’s success, it strengthens our business and the communities we serve,” said Brian Moynihan, Chair and CEO of Bank of America. “We are proud to continue investing in our people and reinforcing a culture of shared growth and achievement.”
The Sharing Success Program is part of a broader set of initiatives aimed at supporting employees’ well-being. The company offers benefits such as paid sabbaticals, support for life events, confidential counseling through an Employee Assistance Program, and other programs designed to foster a supportive work environment.
Bank of America has also increased its U.S. minimum hourly wage to $25 per hour as of early October, raising the minimum annual salary for full-time workers above $50,000. The bank is working with government officials on implementing Trump Accounts for employees and clients. It has expanded skills-based hiring practices and made commitments such as increasing military hiring by 10,000 positions, boosting recruitment from community colleges, and adding jobs at new financial centers in high-growth markets across the country.
Through these programs—including internal mobility options and professional development resources—Bank of America aims to help employees grow professionally while contributing positively to their families and communities.
Bank of America serves around 70 million clients across approximately 3,600 retail financial centers in the United States and operates internationally in more than 35 countries. Its services include banking, investing, asset management, corporate finance solutions, digital banking with about 59 million verified users, as well as support for small businesses.
For further information or media inquiries:
John Yiannacopoulos
Bank of America
Phone: 1.646-855-2314
john.yiannacopoulos@bofa.com
