For those of us impacted in the latest round check your RSU accounts. The “End of Employment RIF Stock Treatment FAQ” document is pretty clear that all RSU that are not “Retention Rewards” with a vesting date within 1 year of layoff date will accelerate and vest. Any shares vesting more than 1 year are forfeited. I had 4 grants with vesting dates in July & September that all show “Cancelled”. Called Fidelity and was told by the Fidelity rep that I needed to contact Nike as they were indeed cancelled. Nike’s handling of this whole fiasco has been shameful and a pretty accurate reflection of the dumpster fire the company has become.
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From my understanding the team who look after the stock process lost most of their team recently due to 4/1 RTO and multiple manager changes so they don't have the team members they used to to get them processed on time and the severance stock process is all manual in Fidelity. It happened to me but was fixed pretty quickly.
Similar issue to OP. All my RSUs that had special vesting after my layoff suddenly showed as “canceled” and couldn’t be traded. Called Fidelity and they said to check with Nike. Sure enough: Nike sc--wed up. I was able to get them restored, but keep an eye on yours after your official end date. It’s not a Fidelity issue, it’s Nike.
Thank you for your answer, @1jug
Laid off in April, will keep an eye on Fidelity
Laid off in Feb. My RSU’s showed Unvested until about 2 weeks after my severance payout - then they vested. They don’t wait to vest until Sept - what they offered in the severance package was to accelerate vesting of stock due to vest this year. April layoffs should see something similar.
OP - it sounds like your situation is a mistake or more complicated. I’d bet mistake on Nike’s end. Hope you can get it resolved ASAP.
If you haven’t held them for a year they will be forfeited. Unfortunately that’s stated in all the docs. It su-ks.
Mine also shows all unvested. Wonder if they will remain like this and vest on original vesting date.
@czj+1tsn1rIi It showed “Cancelled” if yours shows “Unvested” you might be ok it might have just been something with my account.
Thanks for heads up. Curious —Did it show unvested or actually stated cancelled? Looking at mine now and they show unvested
They just keep sc--wing us over.