Ingersoll Rand awards $150 million equity grant to global workforce
Ingersoll Rand Inc., a global provider of mission-critical flow creation and industrial solutions, celebrated its $150 million equity grant to nearly 16,000 employees worldwide with a virtual ringing of The Opening Bell at the New York Stock Exchange.
“This is a $150 million investment in our employees,” remarked Vicente Reynal, Chief Executive Officer. “We are not aware of any other industrial company our size having done something like this; it’s a meaningful way to build an ownership culture where all employees can benefit from creating value as they all contribute to our success. Our employees have carried us through the beginning of a successful integration between Gardner Denver and the Ingersoll Rand Industrial segment, built a solid foundation and now position us to pivot to growth and achieve great things in the future. United by a common purpose and set of values, we believe our 16,000 employees around the world are unstoppable.”
From an hourly assembly worker on the production line in Quincy, Illinois to a sales representative based in Shanghai, China, all eligible employees received a grant equal in value on the grant date to 20% of that employee’s annual base cash compensation. All permanent employees in good standing were eligible for the grant except senior management employees who are part of the company’s annual long-term incentive plan and employees in Vietnam and Philippines where local laws make granting equity prohibitive.
Reynal continued, “If everybody thinks and acts like an owner, we all share in the benefits of any future value creation as the company continues its growth strategy and improves its profitability. Overall, we view this grant as a core strategy for increased employee engagement, an ownership mindset and sustainable long-term shareholder value enhancement.”
