Hi I understand from reading bp share policy, upon termination of bp employment, bp has discretion to allow its ex-employee to keep the restricted shares (if they are a good leaver etc). Does anyone know who's decision it is to allow the employee to keep the shares? Any other insights as to what process / considerations for the decision. I am getting no information from my line manager.
3 replies (most recent on top)
If this is about reinvent share plan if you leave the company you lose your share options, unless:
- redundancy or retirement, in which case it's prorated
- injury or disablement
- death - paid out in full
Leaving to work elsewhere = forfeit of plan.
It’s an HR decision. They will apply a pro- rata formula for your shares. Being a good leaver generally means you give 6 months notice and provide some agreement for MOC (management of change). That 6 months might be negotiable depending on agreement with line managers, but 6 months is standard. If you are over 50 and call it “retirement” it’s a no brainer. If you are leaving for a better job… you probably can’t legit give 6 months notice .
I would imagine that you are a good leaver if you haven't shtupped your direct reports