T-Mobile Customer Stock Giveaway To End, Shares Down 3% Since Redemptions Began

In early June, T-Mobile US Inc TMUS announced a new customer appreciation program that would grant a full share of stock to existing customers and new sign-ups during the promotion period.

Rather than diluting T-Mobile stock by issuing new shares, the company gave away shares purchased from stock already issued and outstanding. Existing customers could obtain one additional share by successfully referring a friend to sign up for T-Mobile service.

Customers are required to redeem their shares through the use of a special app, with the redemption period set to end on June 21.

Since the redemption period began on June 7, T-mobile shares have declined 3 percent, though they’re up 8.5 percent for the year.