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Chase Manhattan Awards Stock Options to Its Worldwide Workforce.(Originated from Daily News, New York)
Knight Ridder/Tribune Business News, December, 1996 by Feiden, Douglas
Dec. 18--Chase Manhattan Bank yesterday played Santa Claus to its 26,000 employees in the city and 69,000 around the globe.
America's biggest bank awarded stock options to its worldwide workforce -- enriching tellers, clerical workers, branch managers and banking barons alike.
The Christmas bonanza will give all of Chase's full-time employees the right to buy 450 shares of stock at deep discounts over the next three years.
The options eventually could be worth as much as $11,000 per employee -- and cost the bank a whopping $700 million, analysts said.
Chase chairman Walter Shipley said the options were a thank you present to workers for pulling off the bank's massive $13 billion megamerger with Chemical Bank. That deal...
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