Society

LinkedIn CEO Gives His $14 Million Bonus To Employees

| by Brendan Kelly
Jeff WeinerJeff Weiner

LinkedIn CEO Jeff Weiner is giving his entire $14 million stock bonus to his employees.

On March 2, LinkedIn filed documents detailing payment packages for its top executives, though one man was missing from the list: the company’s CEO, Jeff Weiner.

Weiner decided to give his $14 million stock package to his employees, Re/code reports.

“Jeff did not receive an equity package this year at his request,” LinkedIn spokesman Hani Durzy told Re/code. “He asked the Compensation Committee to take the stock package he would have received and put it back in the pool for employees.”

The generous move comes just one month after LinkedIn’s stock fell more than 43 percent in one day after the company’s earnings were reported in the beginning of February. 

According to Time, Weiner is not the first CEO of a struggling company to give bonuses to employees in an attempt to increase morale. Twitter CEO Jack Dorsey awarded nearly a third of his $200 million stock bonus to employees in October 2015 after stocks plummeted. Rick Holley, CEO of Plum Creek Timber Co., also gave his $2 million bonus to employees in 2014, saying that he feels he should not receive a bonus if shareholders have not seen a return on their investment.

Sources: Re/codeTime / Photo credit: Marcio Jose Sanchez/AP via Time

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