The most important aspect of the program is constant communications. Each day on whiteboards located in bank offices worldwide the closing stock prices are listed. Another key to the success of the program has been keeping it simple. The stock program does not involve complicated vesting schedules or purchase agreements. Stock vests in stages over three years with one-third of the options vesting each year.
Employees are free to buy and sell stock upon trade days.
Wynne has witnessed that most employees seem to hold onto their stock. BofA representatives believe that some form of employee ownership will remain after the merger. All rights reserved.