Does anyone have any insight on how the process goes down for someone under psg26 getting the extended Ltip? Just curious if there’s a certain percentage cap on who gets it and the approval process once a supervisor nominates someone.
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PSG 24, a hi-pot, and received the LTIP. Around $35K vesting in 2027.
Any PSG25s and below that got LTIP for 2023?, how many EEs did you have?
And 10k was just an example as they said
@2xte at what PSG? And are you part of the regular LTIP or the extended LTIP?
My LTIP was not $10k; It was just north of $60K, so that is significant, specially if you start getting them every year.
What makes/who is a “high-pot”? How are these people identified, besides them receiving the LTIP?
Extended LTIP was created exclusively for high-pots, so they wouldn't pout before getting to psg 26.
Correct in that you could get it one year and not the next. The $ amount of the awards is low and with the three-year vesting, it’s really not a large enough incentive to keep someone at the company. Say you get a $10k LTI award. If you got a job offer at another company, tell them you have that award, and more than likely they will make it up in your offer. Majority of other O&G companies have 3-yr ratable awards that vest 1/3 each year and distribution goes a lot deeper down into the organization as a standard, not an extended LTIP. CVX knows this, but are very selfish with their LTi awards. Yes, it is true that a manager could literally give his best buddy that works for him an award every year while overlooking the hard workers in his group just because they’re not one of the boys. And since there is a higher % of male managers, females will really not be favored in this situation.
Confusicus say “Man who stands on toilet is HiPot.”
About a third and they’re gonna spread it out and not give it to you every year, that way they can put the golden handcuffs on everyone you wanna keep as it only bests 100% after 3 years
It is fairly objective as the managers can simply plot everyone up on a cross plot of performance and add bonuses along a creaming curve until the money is used up.
What is a HiPot?
Thanks. Yes I remember the % being announced just can’t remember what it was.
The psg 24 I know who got it the total was like 24k over the entire time if the LTIP. I heard it was more like 10% not 30%. It was stated openly at one time just don’t remember the #
HiPots only basically…. It’s a nomination process that is reviewed each pay determination cycle… from what I am told it’s only those who are “in the club” that get it… you all may have better info than I do though.
Roughly 30% get it, supervisor nomination has to be approved by management above your supervisor, to my understanding… curious to hear everyone else’s thoughts on how far off or on the mark I am with the above from my own digging but this is what I heard.