Maryland real estate company surprises employees with $10 million bonus to split

Source: YahooFinance

St. John Properties, a Baltimore-based commercial real estate property management and development company, provided a $10 million bonus for its 198 employees to split at its annual holiday party on Dec. 7.

“The [bonus] distribution was based solely on years of service. It had nothing to do with a person's position in the company,” Larry Maykrantz, president of St. John Properties, told Yahoo Finance in a phone interview. “We spent a little bit of time discussing it and believe me, once we made that decision, we realized that was the only fair and equitable way of handling this.”

Individual employee bonuses ranged from $100 to $270,000, according to the company’s LinkedIn post. On average, each employee received about $50,000.

Read more: https://finance.yahoo.com/news/10-million-bonus-company-bonus-maryland-012153557.html