If you are a Director or above, you cash bonus now comes with a contract you must sign and if you leave, they claw back both your stock and now your cash.
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How are they going to claw back if they are paying taxes now. Sounds fishy
The stock percentage increases every year while the overall package shrinks…and now with more strings attached. I receive less now than I did over 15 years ago (yes my own fault for sticking around that long). Adjusted for inflation, the story is even more grim.
It’s a joke, the “rules” around bonus change every year and we just need to take it. Does Frank’s bonus go through the same games? Why can’t they just update the incentive policy to detail out what the cash/stock mix will be each year by pay grade and share the details like most companies? Last straw for me. Leadership is out of touch and enjoys screwing with us little peons.
Grade 11 and above receives some form of bonus or incentives.
Managers also receive bonuses, not just director and above
Lol. Running the bonus program like it's a DirectTV contract. Only at Frankserv.
If you are below director level, you get no bonus anymore. Granted Frank only ever gave 3% or so, but right now, I'd take that to help with extra expenses! I am sure Frank is enjoying seeing the stock go over $115 and will be dumping shares soon. Eventually, the other shoe will fall.
Leave it to FB to turn a performance bonus into a retention bonus--certainly carries air of desperation. What a great holiday surprise! First we change bonus from all immediate cash to split of cash and restricted stock you can't touch for up to three years--now this. If people believed or understood the vision--or trusted senior management--you wouldn't need to bribe them to stay. The higher the level or better the performance, the heavier the shackles. #FiservSad And of course this is only being disclosed now and not a year ago. Those who can will go.
24 months.
How long is claw back period?
Everyone will eventually leave. If this policy stays I’m place then a person’s final bonus will get clawed back pro rata. In other words, unless you’re fired you can’t ever take everything you EARNED.
no change on non-compete clause.
So grade 13 and higher?
Bonus pools looking pretty healthy- surprising given all the layoffs I am reading about in the tech and finance orgs!
What are the bonuses looking like ?
Does it also keep non-compete clauses on the RSUs?
The truth -
A great bonus pool mostly in equity and to get some cash company asking for a prorated claw back...if you plan to be here no big deal --- if you want to leave that isn't who the company is concerned about --- pretty smart actually. If you're let go involuntary you get to keep the cash. So no worries on the cash unless you leave voluntarily.
How can they claw back a cash bonus if it is based on prior year's performance?