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Fibrebond’s Exiting CEO Reserved $240 Million for Staff in $1.7 Billion Sale, With Payouts Now Underway

The bonuses average about $443,000 per worker, vesting over five years to keep the workforce in place after the Eaton acquisition.

Overview

  • Roughly 540 full-time, non‑equity employees are eligible under the 15% proceeds allocation created as a condition of the sale.
  • Initial distributions began in June 2025, with remaining installments scheduled annually across the five-year retention period.
  • Graham Walker made the employee pool non‑negotiable for any buyer, and Eaton accepted, later citing commitments to employees and the community.
  • Recipients describe using funds to clear debt or mortgages, pay tuition, boost retirement savings, and one worker, Lesia Key, opened a clothing boutique.
  • Some employees reported surprise at tax withholdings near one-third of checks, and the stay requirement includes an exemption for those over 65.