shares rallied Wednesday after a
report that the investment bank plans to offer stock to employees as a means of retaining top talent.
The troubled bank's stock jumped almost 12% after the report, which investors interpreted as a sign a sale of the firm is not imminent. Rumors that Lehman was on the verge of a fire sale to
or some other suitor, a la
in March, have hit the stock all week.
Employees will receive 20% of last year's bonus in stock that vests over three years,
said. Lehman declined to comment on the report.
Shares closed Wednesday up 6.7% to $22.36.
This article was written by a staff member of TheStreet.com.