Submitted by Xilinx, Inc.
Xilinx, Inc. (NASDAQ:XLNX) announced today a stock sharing program called "Stock-for-Students" that will help address budget shortfalls faced by local schools. Conceived out of the Xilinx value of giving back to the community, the program encourages employees to donate stock they buy through the company Stock Purchase Plan, or other stock they may own, to Xilinx adopted schools. Since the launch of the program, employees have donated over 1,100 shares of stock valued at approximately $90,000. Employees can donate to the program every six months, providing local schools with funds that are expected to exceed $150,000 this year.
Funds from the program will enable schools to bridge the digital divide for students by providing unbudgeted science and technology classes. “This program reflects a commitment by Xilinx to our local communities,” said Wim Roelandts, Xilinx president and CEO. “We believe that all students should share equally in the prosperity and promise of our region. By investing in science and technology, students will be better prepared to meet the challenges of tomorrow’s workplace and tomorrow’s world.”
Currently, Xilinx adopted schools include Edwin A. Oster Elementary School located in San Jose, California, and the 'Adopt-a-School' program in Boulder, Colorado. "Xilinx is setting a standard for corporate donations to schools that other hi-tech companies should aspire to," said Phil Quon, superintendent of Union School District in which Oster Elementary resides. "California schools rank forty-third in per pupil spending. Innovative public-private partnerships like the 'Stock for Students' program enable schools to provide much-needed classes."
Xilinx is challenging other Silicon Valley companies to follow its lead. “Imagine if every Silicon Valley company adopted its own school. Imagine if every employee donated just one share of stock. With an influx of additional funds, we could make a profound impact on student achievement,” said Peg Wynn, vice-president of human resources for Xilinx.
Employees leverage the value of their gift by donating through the program - stocks are purchased at a discount through the Xilinx Stock Purchase Plan, yet schools sell the stock at full market value that appreciates over time. Xilinx employees also benefit through a tax deduction and with a convenient way to share their success and meet their personal charitable goals. PaineWebber and the Bank of San Francisco have donated their services to administer the program.
Xilinx is the leading innovator of complete programmable logic solutions, including advanced integrated circuits, software design tools, predefined system functions delivered as cores, and unparalleled field engineering support. Founded in 1984 and headquartered in San Jose, Calif., Xilinx invented the field programmable gate array (FPGA) and fulfills more than half of the world demand for these devices today. Xilinx solutions enable customers to reduce significantly the time required to develop products for the computer, peripheral, telecommunications, networking, industrial control, instrumentation, high-reliability/military, and consumer markets. For more information, visit the Xilinx web site at www.xilinx.com.
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