How much you can expect from your company after your company’s share price falls continuously? The LinkedIn CEO Jeff Weiner decided to give away $14 million value of annual stock compensation to his employees according to a report by technology website Re/code.
The largest social network in the world is not going through a good time. The company failed to meet the expectations of Wall Street as LinkedIn’s stock price fell 43% in a single day after the company reported earnings early last month. This is a smart move from Weiner given that he wants to keep his employees happy.
Spokesperson Hani Durzy told
“Jeff did not receive an equity package this year at his request, He asked the Compensation Committee to take the stock package he would have received and put it back in the pool for employees.”
He is not the only CEO giving his own stock to his employees. Last year, Jack Dorsey who returned as the CEO of Twitter after Dick Costolo stepped down from the company, decided to give away $200 million in stock to his employees after company-wide layoffs and to recover from the turmoil of the company.
Though the company has not officially confirmed the amount of the stock, Re/code posted that Jeff Weiner could give 105,924 shares of stock ($12.7 million) which he owns in the company along with option award worth of 3.2 million.