TSMC Board Approves 15% Subsidy for Employees Share Buying Scheme

TSMC。(Photo:AFP)
TSMC。(Photo:AFP)

Taiwan Semiconductor Manufacturing Co. (2330-TW) (TSM-US) approved a global employee stock purchase scheme during a board meeting on Tuesday (May 10), offering staff members a 15% subsidy to purchase company stock by installments starting in October. This is the first time TSMC has subsidized its employees to buy its shares. 

TSMC previously announced its plan to implement a stock purchase subsidy for its employees to purchase shares of the company by deducting a certain amount from their salaries each month. The Board of Directors approved the share subsidy scheme that day far all regular employees of TSMC and its 100% owned subsidiaries. 

TSMC said that the stock purchase plan provides stock purchase subsidies to share the fruits of the company’s long-term growth with its employees. The maximum amount employees can contribute each month ranges between 15% and 20% of their monthly salary. They will contribute 85% of the total stock purchase amount, while the company subsidizes the remaining 15%. 

The plan shall become effective after the board of directors’ meeting. After the implementation details are confirmed, the internal explanation will begin in July, and employees will be allowed to join the stock purchase plan in August and September.