Can someone explain the cash portion of LTI please?
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Thanks for the answer, including the not so subtle jab, lol. I should feel bad but fact is I’m excellent at my job, as well as the jobs of the other two people I’m doing. Plus I’m sure others had this question. I’ll keep asking stupid questions. Again, thank you for breaking it down with an example and everything. Have a nice day!
I forgot it automatically comes through payroll. I went looking for it at Morgan Stanley to set up a transfer but it’s not there. Assuming it’s being processed and will show up in my checking account soon.
Did APC people who retired get the full amount of LTI whether vested or not vested? Oxy did not.
It’s not unfair, the (59$ + 0.2934 Oxy share)/(APC Share) was simply a way to convert their pre-acquisition LTIs.
It just so happens that since Oxy stock is down so much, LAPC is not getting penalized on lower LTI vesting amounts as much since a large percentage of the LTI was based on a fixed $ amount
This is very entertaining.
OMG, another one. I hope you are not getting any LTI due to IQ. No one is “getting anything” from the ACQUISITION. See below post regarding shares (unvested or not). Most APC that is remaining was not eligible for COC (read documents for specifics). Some LAPC are now receiving LTI grants which is the same as LOXY. LTI is LONG TERM INCENTIVE in order to retain skilled employees regardless if they were LAPC or LOXY. New grants have a 3 year vesting schedule, same as before under both organizations.
Why are APC people still getting anything from the merger? This is just wrong. Someone screwed Oxy VSP people on the LTI and you can’t blame APC. It was Oxy and Oxy Senior-management for f—ing everyone,
I wish the company would stop giving LTI to those who cannot understand the basics. For every share of APC that you had (whether it was vested or not), you received $59 in cash and .2934 OXY shares. This makes it impossible for you to have the same Number of shares unless you are incorrectly adding in grants that you received AFTER the acquisition (there have been two so far). Let’s assume that prior to the acquisition you had 1,000 shares of APC. For those shares you would have received $59,000 in cash and 293 shares of OXY (rounding for simplicity). Let’s assume that OXY has a current value of $29.30 per share for a value of $8,585. Not considering any grants post acquisition, your APC shares have a current value of $67,585. This value vests on the same schedule as before the acquisition. Now that another year of vesting has just occurred, you will receive a payroll distribution for the cash which you will pay taxes on through payroll, and you will receive NET vested shares in your MS account. You will forfeit shares for taxes. At the end of the year, you will receive a statement from MS indicating whether or not you had capital gains. If you also assume that you are on the second vesting of cash, you would receive 1/3 of $59,000 as payroll distribution or $19,667.
I have read that document and it’s too unbelievable. Initially, before vesting, it was listed in MS as $x. Now it’s showing both $x and the same x amount of shares, just slightly less than original, probably based on the 0.000y number you mentioned. Are you telling me I am getting (x times stock price)? If so, it’s life changing. And considering the upheaval, uncertainty, and emotional turmoil, it’s fair. Either way, I’ll take the original listed $x happily if I am wrong. Thanks.
Its a windfall for LAPC and there's nothing for LOXY boo hoo
Thank you Al and the BOD
Pretty sure they sent out notices explaining this in detail. It helps if you read what you receive.
The way Oxy people were treated it seemed more like a merger than an acquisition.
When does APC receive their funds in the bank?
So will APC actually be paid for that or does it just sit there?
Why is it unfair? It’s not. Was Oxy acquired by APC? No. Duh!
Wtf. Why such unfair treatment of Oxy people in this deal. Should have never bought this company.
For every unvested share of APC LTI that we had, we received 0.2934 shares of Oxy LTI. That LTI continues to vest on the same schedule as the APC LTI. At each vesting we receive vested Oxy stock. We also received $59 in cash LTI for every unvested share of APC LTI that we had. That cash vests on the same schedule as the APC LTI. At each vesting we received the cash.