Bank of America Corp. said some employees may get a portion of their bonuses in stock rather than cash if the company fails to meet a Dec. 31 deadline for increasing equity through asset sales.
"In the event that there is a shortfall, it would be met by issuing equity awards of fully vested common stock to certain associates in lieu of a portion of their 2010 year-end cash incentive awards," the Charlotte, N.C., company said Friday in its quarterly report. The awards would be "transferable by associates as soon as administratively practicable."
B of A has raised $1.9 billion toward the $3 billion commitment, it said. B of A is pursuing "several potential asset sales" to help meet the goal, according to the filing.
