Do your shares granted under the legacy LTI and current RSR program vest upon being laid off? Or do you still have to wait to get them based on the original vesting schedule (get 1/4 each year for 4 years)?
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Thanks, this is what I was looking for. I assume awards granted in 2022, 2023 and 2024 are ones I keep in retirement? I am likely retiring after the bonus on 2/2, but might stick around until early March to grab what little I have from the 2021 award.
In retirement you keep all future options but they stay on their current vesting schedule. My last batch is this year. Can't wait to be rid of the worst investment I ever had.
@dwy+1qxhYDMU Thanks. I did actually, and the pdfs contains the info would not open. Imagine that.
Cheer up and best wishes for a prosperous 2024!
It’s not clear you mo--n, that’s why someone is asking.
here's a thought, go look it up yourself.
What about retirement?
new grants as of 2022 will continue to vest per your vesting schedule (usually 4 yr) if you are laid off. prior to 2022 they immediately vested. If you cease employment due to your death then they immediately vest
Also, I think if you retire (age 55+ with at least 5 years of service) you can keep any from 2022 onward. Someone pls confirm that if you would. I have read the terms of the grants and it’s not clear to me. I am “retiring” after bonus, although I will continue to work, just not at this place.
Agree. I think 2 to 3 years ago they changed to any new grants going forward followed the vesting schedule if you were laid off
You have to log in to the system and read the grant terms of each award. In older Years the vesting was immediate upon severance (right after the 60 day period) but I am not sure about the last 2 years.
Go to Equate Plus. Library (scroll all the way to the bottom and pick library). Then read the grant agreement from prior years for the terms.