Are you happy with your $2000 insulting CEAP?
17 replies (most recent on top)
You are not getting 2,000 shares! You are getting $2000, which is around 27 shares as of now.
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WF has to large a share of national deposits to be acquired by another large bank. Gov wouldn't allow it. We also don't have much in the way of assets that anyone else wants. It's highly unlikely that WF will be bought by some other company, especially within the 3 year vesting period. Shart would have to wind down / spin off a lot more assets.
You'd get paid out at whatever conversion rate of the buyout offer.
Laughable that you think WFC will be bought out though.
What happens if this company is not Wells Fargo in three years when it vests? What if another bigger bank buys them? Or the way things are going Wells Fargo is The Bank of India, The Bank of Philippines, etc. In 3 years. You see where I'm going with this. We lose those 2,000 Restricted WFB shares. We've been through alot of changes, and I'm sure in for many more changes that can impact this nice carrot we're chasing.
This is only place I’ve ever worked where people complained about free money. You’re foolish if you’re not getting what you demand in raises and bonuses and, instead, relying on specialty awards to feel “complete”.
Company gives out approx $440mm to employees, nothing but complaints that it’s not enough. Perfect example of people thinking they are worth more than they actually are.
Some of us got 50 shares at the beginning of this fiasco. So I guess we're getting $5k for 7 years.
Hard to complain about free money, but if you're making $150k or $200k, it's not much in the scheme of things.
It isn’t fair for very recent hires to receive this (4-6 months). I believe it should have been higher for employees who have been here through it longer. Not upset with getting something extra, but the amount feels paltry.
So, yeah. I guess I have complaints.
Hey OP, there’s a typo.
It is CHEAP: Charlie’s Hypocrite Employee Appreciation Plan.
new low of WF. Very cheap.
7 years of asset cap at $2,000 is approximately $286 per year of cap.
Words fail to describe just how appreciated I feel.
@af
Thank you!
You have the option of taking cash option of 2000 rupees instead
@ad, yes, if you were displaced and not fired. You get the distribution when it vests. It's in the fine print on the email from Bei
When it vests in 3 years, and we are no longer employed because of layoffs are we still eligible for it?
I never complain about free money. The real problem isn't the RSRs, it's that he wants to downsize all of us.
You mean Charlie's Halfa## Employee Appreciation Plan, aka CHEAP!
Yes