Does anybody know what happens if you get RIF'd this year but were employed here when Lowell said we would receive the stock in 2019 and 2020?
I know it's not much but wondering if we lose that with being RIF'd.
10 replies (most recent on top)
Typically you lose rsu. There is a special rule here in the grant which explicitly states that you keep them if the separation is involuntary as in a rif.
It is an unusual gesture.
If you’re not vested, you lose them.
I believe you have to be here when it is distributed during the January, 2019 timeframe otherwise you lose out. I remember seeing that as one of the parameters when announced
"them quit" way ahead of you Jagoff. Enjoy your Verlieson. Enjoy your 50 shares of sc-aps from king lowells table.
Sounds like the stupid statement made by Nancy P, after trumps tax cuts.
IF you do not want yours, I am sure many of us will.
If you do not like working here, them quit
Who cares. 50 shares is like one pube off Lowells scrotum. Worthless crumbs for the masses.
Q: What if I leave Verizon before the date my RSUs vest?
A: The reason you separate from Verizon determines how your RSUs are treated. If you voluntarily resign (and are not retirement eligible) before the applicable vesting dates, your award will be cancelled immediately and you will forfeit any unvested RSUs. If you are terminated for cause at any time before the award is paid, you will forfeit any unpaid RSUs (vested or unvested). Under other circumstances when you separate, you will not forfeit the unvested RSUs. For example, if you retire when you are retirement-eligible, are involuntarily terminated without cause, separate from service under a Company provided severance plan (or, if you are an associate, you leave pursuant to a surplus declaration), or you separate from service due to death or disability on or before January 31, 2020, your then unvested RSUs will vest and be payable on the regularly scheduled payment date. If you die, any payment you would have become eligible to receive will be made to your estate.
By that time it will be worth zero.
You will still get it, but not at separation, you get it at the same date as everyone else, a separate check is issued at that time per the Q&A section of “About You” site.
You don't lose it if you are riffed or if you retire, you receive it upon separation.