Call it a winter windfall.
Juul’s 1,500 employees just received an unexpected holiday gift — they are going to be divvying up $2 billion in bonus money thanks to Altria, the e-cigarette maker’s new owner.
That breaks down to $1.3 million per worker — though the amount each employee receives will vary depending on length of service and equity held in the company.
Under the terms of the $12.8 billion acquisition, announced Dec. 20, Juul employees will be paid $150 for every share or restricted stock unit they own, according to a report in the Wall Street Journal (paywall).
The report added that the majority of workers have been at the company for less than a year, and that payments to employees hired over the past six months will be based on the number of stock units that will have vested six months from the date they begin vesting.
The bonuses will come for some staffers as soon as Christmas, the Journal said, adding that others will be paid in four installments over the next two years.