SIOUX FALLS, S.D. (AP) — About 50 NorthWestern Corp. managers have been given shares of stock in the company, which emerged from federal bankruptcy court protection in November.

Gary Drook, the Sioux Falls-based utility's chief executive officer, was given almost 103,000 shares of stock, which would be worth $2.9 million at $28 a share.

Mike Hanson, the company's chief operating officer, received almost 36,000 shares.

Giving shares to management workers is a common practice among public companies to create a link to shareholders, industry experts say.

Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware, said it is a key way to create an interest in the company's well-being.

‘‘The idea is they will take actions that benefit the company in addition to actions that benefit themselves,'' Elson said.

The stocks will vest, or become eligible for sale, during the next three years.

The first half of shares vested when the company emerged from bankruptcy. Schrum said senior officers still can't sell their shares according to an IRS tax code provision.

The stock plan is a one-time allocation and is part of NorthWestern's compensation program approved during the bankruptcy reorganization. NorthWestern's board approved the vesting schedule last month.

Schrum said the amounts of additional yearly bonuses or compensation will be released with the company's annual report.