The CEO of my company announced today that the board approved a special bonus payment. All full-time employees will be granted about $2,000 worth of restricted stock units, which will vest on March 14, 2009. On that date, each unit will convert to a share of stock and will be available to sell.
It’s not a bad deal, unless someone leaves the company before 2009. I’m not a fan of having benefits tied to company loyalty.
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I agree. I also received restricted stock from my company as part of my bonus. They won’t fully vest unitl 2010. Who knows if I’ll still be there in 2010. I understand they want to retain good employees, but come on, give me something I can use now!
Congrats—I think.
Even if you leave before 2009, you can use them as a negotiating tool with your new employer. (i.e. “I’m about to come into stock worth $________ that I need to take into account.”)
It is just employee’s version of golden handcuff, but it is always better than nothing.