Thursday, March 03, 2016

CEO gives his $14 million bonus to employees

By Aimee Picchi MoneyWatch March 3, 2016

The past year has brought some missed connections for social networking site LinkedIn (LNKD).

The company's stock has plunged more than 50 percent in the past three months, with investors concerned about slowing growth, lower financial guidance and questions about its business strategy. That may be par for the course for a publicly traded company -- especially one that's in the high-expectations world of social networks -- but it might not make it any easier for employees to swallow.

Perhaps to bolster morale, LinkedIn CEO Jeff Weiner is taking an unusual step: He's handing over his $14 million stock bonus to employees, according to tech site Re/Code.

"Jeff did not receive an equity package this year at his request," a representative told the publication. "He asked the compensation committee to take the stock package he would have received and put it back in the pool for employees."


while giving back bonuses isn't common, it's also not unheard of. Twitter (TWTR) CEO Jack Dorsey gave employees $200 million in stock last year, representing about one-third of his stake in the company. Dorsey said he was doing it to "reinvest directly in our people."

Of course, neither Dorsey nor Weiner are lacking for money. Dorsey has a net worth of $1.31 billion, according to Forbes. Weiner isn't a billionaire, but he's still doing just fine, with Re/Code pegging his LinkedIn stock holdings and vested stock at more than $70 million.

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