Greek yogurt maker Chobani is given its employees an ownership stake in the privately held company.
The company says the shares being distributed will amount to 10% of the company’s future value in the event of a sale or initial public offering.
Each of the company’s 2,000 full-time employees will receive shared based on their role at the company and the time they have worked at Chobani.
Chobani says CEO and founder Hamdi Ulukaya is meeting with employees this week to tell about the plan in person.
“This isn’t a gift. It’s a mutual promise to work together with a shared purpose and responsibility,” Ulukaya wrote in a letter to employees.
While the company helped usher in the age of greek yogurt, it has faced an increasing amount of competition in recent years from large players who have begun to offer their own greek yogurt flavors.