To Level 3s and above recently surplussed, does anyone know if vested stock is paid out in one lump sum at separation, or over next two yearly payouts in Feb.? I've heard both scenarios. One said they pay out over next two year, and another said they liquidate your shares to get you completely off the books.
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Your Long Term Incentives will be paid as scheduled. Those awarded Jan 2016 get paid Jan 2019, those awarded Jan 2017 will get paid Jan 2020, etc. They will be paid per the award letter. Mine started 50% cash, 50% stock after tax. Cash is sent to you and stock is put into you account at Computershare. Ignore these other posts on options and calling fidelity. If you need more info call or email the group that runs executive compensation whose contact is on the site showing your outstanding awards. You get paid eventually what you earned on each award up to your termination date
@4qrz, you pretty much nailed it but allow me to bring it home. The options that T gave us years ago did indeed become worthless. The options were given to us with the idea that they would be significantly higher ten years down the road when they hit their expiration date.
If the options were for $35, it might be hoped the T stock would grow to $45-$50 over those ten years....not really an unreasonable thought for most of us. At that juncture you would exercise those options, buy them at $35 per share and sell at the higher price....hence your reward, or you could choose to hold them and let it ride. But guess what? Yes indeed, when the expiration date rolled by the stock was about $3. below the option price. Logic dictates you let them expire as most sane people did, and we walked away.
Understand that it was along time ago and my numbers may be slightly off, but not by much. Anyone else remember it in a similar fashion?
I can tell the folks posting don't understand the differences between those of us in the trenches (L2 and down) and General Management (L3 and up to officer). We common folk used to get options which were worthless due to stock performance and the elite who get actual stock as part of a pay package.
wasn't the stock option through Merill Lynch?
I woudl suggest you call Fidelity, they can answer that question.
Are these options? Most likely case is that they're worthless given the stock performance over the last 10 years.