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T-Mobile's Legere: Why we're giving stock to customers

T-Mobile just lobbed some more bait to pull customers from rivals.

The telecom company announced Monday it will give existing and new customers a share of its stock. T-Mobile also will offer an app with deals for companies like Domino's, StubHub and Wendy's as part of its ongoing "Un-carrier" initiative.

The efforts will address pitfalls in loyalty programs, what T-Mobile CEO John Legere called "a big pain point" in the wireless industry.

"Every Un-carry move we've done, people scratch their heads and say, 'How can they do that?' What I hope is that on this one, scratch away. It's in our financials, it's in our guidance," Legere said Monday on CNBC's "Closing Bell."

John Legere, president and CEO of T-Mobile
David A. Grogan | CNBC
John Legere, president and CEO of T-Mobile

Existing customers who are the primary contact on certain accounts will receive a share, while some new customers will qualify for a share when they open an account. Customers who recommend new users can get up to 100 shares in a year.

T-Mobile has offered various benefits to lure customers under the outspoken Legere, who took over in 2013. The company previously said it added 2.2 million net customers in the first quarter, bringing its total customers to 65.5 million.

T-Mobile shares closed more than 1 percent lower Monday. Still, they have climbed more than 10 percent this year.

Shares of rivals AT&T and Verizon have risen 14.3 and 9.7 percent this year, respectively.