Gain for stock-holding Intel staff

Intel
INTEL Ireland’s staff with shares in the parent company have been enjoying something of a boost recently as the share price as risen 53% in the year to 4 September.

INTEL Ireland’s staff with shares in the parent company have been enjoying something of a boost recently as the share price as risen 53% in the year to 4 September.

They were hovering around $34 on 4 September, compared to €23 this time last year and September 2012.

Last December saw a rise to $26 and on 1 May this year they had reached $27 per share.

The company has 4.59 billion shares, of which 62% are owned by institutions. Under a 2006 share plans, staff can buy at at a discount, in some cases 85% of the market share price. Around 627 million have been taken up by staff under one plan.

Intel spokesperson, Sarah Sexton said most Intel Ireland staff have the opportunity to own shares which given them a stake in the company’s future . The specific availability and types of stock programs are varied dependent on a number of factors.”

On the minus side, the company closed to new Irish staff after June 2012, participation in a defined benefit pension schemes still offered to staff in Israel, Germany and Japan.

In mid 2011, former staff of Intel some other large companies, filed antitrust class action lawsuits in California, USA, alleging that the companies had illegally conspired in 2005 to keep wages down by making unlawful agreements not to cold call each others staff. In particular, Intel and Google made such an agreement.

In April 2014, Intel, Google and two others reached an agreement with plaintiffs to settle this lawsuit, which is subject to court approval.

Intel continue to dispute the claims, but said it agreed to settle to avoid the uncertainties, expenses, and litigation.