SVB Staff Lose Millions in Company Equity Collapse

SVB employees who received up to 50% of their salaries in company stock are facing substantial financial losses after the bank's collapse. The failure of SVB and Signature Bank prompted an intervention from the FDIC to protect depositors' funds, raising questions about the strength of the American banking sector. SVB benefits documents show that the company's employee stock purchase plan allowed staffers to contribute up to 10% of their earnings to purchase company stock at a discount. It is unclear whether the company had additional stock-based compensation policies in place.