Bank of America Employees to Share $800 Million Stock Reward

Bank of America Corp. is splitting a roughly $800 million pool of restricted stock with the majority of its staff, boosting compensation to retain employees even as the bank works to keep a lid on expenses.

The incentive, which comes on top of regular compensation, goes to workers who earn as much as $500,000 in total annual pay, according to a memo from Chief Executive Officer Brian Moynihan Thursday. About 97% of the global workforce is eligible. This is the seventh time the firm has paid such awards, which total more than $4.8 billion since the program started in 2017, ...