Tech giant Apple has surprisingly decided to be benevolent with a new program that will see all the company’s employees given shares in the company.

According to reports the new initiative effectively means everyone who works for Apple is eligible for what is called an “RSU grant.”

RSU grants (newspeak for we are giving you restricted stock units) have previously been reserved exclusively for Apple management and product engineering roles alone, as a way to retain employee talent in a market where every man and his dog offers shares or share options for employees.

The news was delivered by way of a memo from Apple Chief Executive Officer Tim Cook:

Team,

I’m writing you today to announce a new stock ownership program for employees.

For many years, we have offered people across the company the opportunity to become shareholders in Apple by participating in the Employee Stock Purchase Plan (ESPP), which makes Apple stock available at a discount that’s exclusive to employees. Many of you have taken advantage of this program, and I am told we have one of the highest participation rates of any company offering employee stock purchase plans.

In addition to the ESPP, employees in certain roles have been eligible to receive restricted stock units. Each year, the management team recommends eligible employees, typically from our product areas, to receive RSUs as an incentive to continue their important contributions to Apple. Each grant is approved by the Board of Directors.

This year, I’m excited to let you know that the Executive Team has created a new program for stock ownership through RSU grants. It’s designed to reach employees who were not previously eligible, including many in our amazing Retail and AppleCare teams. The new program extends eligibility to everyone not covered by other RSU programs, effectively making everyone who works for Apple eligible for an RSU grant. This is an usual step, and very special – just like our team.

At Apple, our most important resource, our soul, is our people. Along with our many other progressive benefit plans, this is another way to say thanks. On behalf of the Executive Team, I’d like to thank you for your many contributions to Apple. Working with all of you is the privilege of a lifetime.

Best,

Tim

It probably goes without saying that the step to extend the share sharing program to all employees is a logical step forward, and it is benevolence that Apple is extending it beyond their Cupertino core employees to their retail staff as well.

The “RSU awards” began being distributed to employees Wednesday, with initial grants ranging from $1000 to $2000 worth of shares.

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