Anyone know what requirements must typically be met for the Company to consider your wanting to leave a “retirement” in order to get paid a pro rata portion of any unvested RSU awards?
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I “retired” in the literal sense (meaning not going to work again) and got no RSU proration nor a bonus payout for staying past July. Maybe you have to ask for it or negotiate it if it’s offered.
@fxh+1vnHUmtT not true now, not true ever.
@oxz+1vnHUmtT I have always been told that if you are employed on July 1 of the year you retire you will be considered for a pro-rated part of the bonus. You can check with HR to make sure this is still the case.
Everything should be by the book and completely transparent. The company would be open to all kinds of lawsuits by showing favoritism.
Now when it comes to VSP there is manager discretion as to when the retirement date is. This date is very important from a tax point of view if retirement is taken in a lump sum.
You have to be working at the time bonuses are paid in order to get one. Who ever started the rumor that you can receive a bonus after you leave Oxy is delusional.
Also, there is no Club Vicki. Come on guys, stop acting like you are 12 years old.
The award terms gives the company the right to determine, in its absolute and sole discretion, whether they consider your circumstance a “retirement” in order to give you a prorated portion of any unvested equity awarded. But in practice, I suspect if you voluntarily leave for whatever reason and are not a member of Club Vicki, everything unvested is forfeited. I have heard others mentioning rumors about a possible partial bonus for working part year. But if true, I suspect it’d probably also be a perk that is exclusive to those in Club Vicki.
I checked a while back and you do not get any pro-rated stocks from what I was told. You need to wait until March and get the ones that vest then, and after you retire you will have forfeited the remaining shares. I am pretty sure the compnay can vest you if they see fit if there is a VSP or sale of the company. I am waiting until March to cash my vested shares in, and then make a decision whether it is time to retire. I have heard also if you wait until sometime in June or July to retire you can be considered for 1/2 a year bonus the next year.