Search
 

Jones Lang LaSalle Hopes to Boost Stock Incentives

CHICAGO-A proposal on the company's annual meeting agenda would approve an additional three million shares of company stock as incentive awards for top performers. Jones Lang LaSalle employees already have received 9.1 million shares through the stock incentive plan.

By Mark Ruda | Updated on May 02, 2005

CHICAGO-Giving top employees three million shares of company stock is one proposal on the agenda for Jones Lang LaSalle’s annual meeting in May. A second proposal eliminates the board of directors’ three-tiered construction with staggered terms to annual election for all directors.

Meanwhile, the company is spending $10 million this year to beef up its ranks by hiring “market leaders,” particularly in its LaSalle Investment Management operations that is receiving a strong flow of capital. The results from the hiring may not show up until late 2006, says chief financial officer Lauralee Martin, as it takes about 18 months for new hires to hit Jones Lang LaSalle’s target levels.

Jones Lang LaSalle already has issued 9.1 million shares of company stock in its incentive plan, according to a company proxy statement. The shares vest from 18 months to 30 months. The new shares, expected to cover incentive payments over the next three years, represent 9% of the company’s outstanding stock. Jones Lang LaSalle stock closed Monday at $38.03, which would put the value of the new incentives at $114 million through 2008.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.