I just confirmed my RSU is vesting on August 3rd. Worst case scenario, if I’m laid off on August 1st, am I completely out that money? I’ve read that it depends on the company. Has anyone had any experience with this?
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Is the US, Oracle has moved to a two week notice period. You’d still vest and collect.
Apply for internal postings asap. Even if your RIF date passes, if they bring you back, the recruiters make note if you lost your RSUs
Different countries, different rules. US, you are gone the day of the RIF. EMEA, not so much.
Wow, that stinks. Was hoping they would give a 2 week transition period or time to look for something internally...
So once you get the RIF, do you have to leave immediate? Or do they give you a “grace period” to find a job internally?
Once you are notified, it is done, the line is cut and you have to the end of the day to clean up and clean out. You have an 8 hour grace period, if that.
Me? I zero'd out my laptop, dropped it off at the UPSStore, zero'd out my phone and then Contacted a resume design company and got started on my next position.
So once you get the RIF, do you have to leave immediate? Or do they give you a “grace period” to find a job internally?
It’s known that Oracle has issued more RSUs than they can cover. I expect they intend to sc--w you out of them. It was done before to OCI people. I would expect it.
Ask for 2 days grace period and your manager will approve
I don’t think any publicly traded company has the ability to accelerate vesting or otherwise do anything unusual with the options. Sorry.
Take PTO aug 1-3, and turn off phone. Can't get laid off on your day off ;)
It wouldn't be worth it to Oracle from a PR point of view to sc--w you out of your RSUs that close to the vesting date.
You can't rule it out, though.
Say goodbye!
Read your plan documents available on www.fidelity.com:
"Vesting of restricted stock generally stops when you are terminated and unvested shares are then forfeited or can be repurchased."
Whether or not Oracle would accelerate vesting for "almost vested" RSUs during a layoff is at best a guess.