Starbucks has given its UK staff shares worth around £4 million as part of the relaunch of its employee share scheme, Bean Stock.
The payout follows a thank-you Christmas cash bonus to staff worth £1.5 million.
Bean Stock gives Starbucks employees a grant of shares in the business. The programme is now a grant of restricted stock units (RSUs). RSUs give Starbucks employees the right to receive shares of Starbucks stock after a specified vesting period. With a shortened vesting period – from four to three years – staff will receive value from their Bean Stock awards sooner, with access to 50% of their shares after just 12 months.
The majority – 6,700 of 9,000 – of Starbucks staff qualify for the scheme, including part-time employees. They will receive stock worth £370-500 at today’s prices.
Darcy Willson-Rymer, managing director of Starbucks for the UK and Ireland, said: “Starbucks was set up to be a different kind of company, putting our employees at the heart of the business and it is important we show our appreciation for their dedication.
“January is a great time of year to be able to give our partners this kind of financial reward. Everyone appreciates a boost at this time of year.
“Bean Stock is no ordinary benefits scheme; it allows our employees to share directly in our success by giving them a real stake in the business. Many of our partners have funded major life purchases through the sale of their shares, from house deposits and weddings to buying a dream property in Australia.”
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