Hello! Does anyone know what happens to ESPP contributions if we get laid off? Do we just get reimbursed? Or will we receive discount stock?
8 replies (most recent on top)
People do it because they hear all their co-workers talking about how it's guaranteed easy money, so they sign up since we get paid enough to not miss 10% of our income as much.
Let’s try to be empathetic. OP is likely facing a layoff. I can imagine it’s scary and confusing. Let’s be empathetic and lay off the judgement for now? Just a thought. Hugs to you, OP!
Have to agree. How is it that this many people set aside 10% of their paycheck without knowing EVERYTHING about the program?
You all make me feel like I should start selling home warranties, term life insurance, and all the other scammy products on the market.
I was impacted during Feb layoffs, i received the ESPP discounted stock for the offering period Oct-Mar 2024. My termination date is 5/3/2024, so they wouldn’t provide stock for the ESPP Apr-Sep Offering period, the duducted ESPP Will be returnd.
You can get espp refunded anytime. Go on fidelity site and set it to reverse. The money shows up in next paycheck in about two weeks. Once you are out you can’t get back in until next round. If you get laid off reverse it instead of waiting.
It's a fair question because policies can be changed in extenuating circumstances, like during layoffs. It's a fair guess a company the size of Nike isn't going to change them to the detriment of the employees during a layoff though, since that's just asking to get sued. Nobody is going to sue for them giving them more than they were entitled.
Refunded. I almost wanted to write a mean post but I know people are new to stuff, but anytime you get involved in RSUs, Options, ESPP, performance driven bonus. Read the policy and guidelines.
It tells you everything you need to know from severance, voluntary exit, etc.
reimbursed