California
fromSFGATE
4 days agoThe 'lone bright spot' for California's economy is looking shaky
Restricted stock units (RSUs) from major tech companies now supply a disproportionately large share of California income tax withholding revenue.
Imagine you work for a company and your stock price has just skyrocketed. Think Nvidia, up more than 1,100% over the past few years to become a $4.5 trillion company. Or Broadcom and AMD, two other chipmakers whose shares are surging in the AI boom. Employees of these companies must be feeling pretty good right about now. What could possibly go wrong?
For Synechron, this meant celebrating its $1 billion annual revenue milestone by making every employee a part owner. The private AI and tech consultancy recently announced its offering a universal equity grant to all 16,000 employees worldwide-each will receive $1,000 in restricted stock units (RSUs). Unlike typical performance- or tenure-based models, this RSU grant is equal for all employees, regardless of location or role. There's no minimum tenure requirement for the award, which is granted to current employees only.