Thoughts? Too little too late?
42 replies (most recent on top)
If you believe that you should short the stock and get rich. But you won’t. You are all talk.
The stockis over priced due to current geopolitical situation and the real value is half what it is now. So even if you get it within the vesting period you will be losing on the value, unless you keep it for long long time for the dividend and that should be over 25 years, so yeah not a big incentive.
@3jwz do you realize that non HR people don’t really care what RM does? This company is bigger than HR.
RM is running out of options. She is trying to save herself by any maneuver
She knows people leave because of the toxic culture that she created and she will be out of the door soon in shame. Now she is spending like crazy to save what she can not save.
She will handcuff the low performers who can not get the same compensation anywhere else and the Hi Pots who are rewarded already. The high performing technical guy is at a loss. She is Also trying to calm the rebellious forces within her function who are mostly below PSG 25.
Desperate people do desperate things
How does LTIP lower quarterly taxes?? I’ll wait.
Just the tip, baby. Just the tip. I promise.
Relax, LTIP is a new scam to lower taxes during high earning periods, which is going to be through next at least 4 of quarters. That is why nothing is guaranteed, it will ebb and flow based on what the dems do.
@2obf+1ja3eEK5 23 is not a high PSG
I guarantee one thing. With the stock at $160 a share, an awful lot of filthy rich corporate executives got a whole lot richer.
LTIP (Long Term Incentive Program) for executives only, is not stock. They are stock options. When Chevron stock rises to where it is today, the LTIP options explode.
Why was the email encrypted?
Redundant posts are redundant.
@2lmr. obviously, you are not PSG 23 or above. These are restricted stocks what we are getting, so they cannot be "underwater". We are not talking about stock options. Poor you.
@2lmr what are you talking about? have you seen how high are stock price is? please refrain from typing your nonsense.
@2lmr what are you talking about? have you seen how high are stock price is? please refrain from typing your nonsense.
Pretty sad CVX only offers LTIP to those high PSGs.
With the decline of our industry and pivot away by investors, our stock is in terminal decline. Thus, the value of the stock grants is minimal. Management has decided to give them away more freely because most will be underwater and worthless when they vest. Why not toss a bone to the lower echelons, especially if it won't cost you anything?
Did anyone get stuck in an awkward pause by bringing this up to their colleagues because they didn’t receive it but you did?
You can view existing 26+ percents on the HR site under LTIP. Seems to basically be the same as CIP, maybe even higher. But it does have a lot of swing based on stock perdormance.
Did everyone in the company receive the email from RM? It came encrypted, which is unusual for an HR announcement.
New LTIP is for PSG 23-25. No word on the amount, or how many would be eligible. Not all in the band just a carrot for specific High performers.
Anyone got an idea what the grant values for the 26+ are for comparison, $$$s or Share qtys?
Did they really just bring back the 1,2+,2 system? Now they attached a large monetary award to it. Only our HR department can be this shortsighted.
While thankful for the 1 out of every 2-3 year LTIP offering, get ready for managers to be put in awful positions. You better have a direct line to your GM because the managers are going to get steam rolled for their people. Can you imagine getting LTIP, then promoted and told you too new in roll for it the following year?
Only major positive for Chevron and its employees is that these clowns at the top of HR just opened the slippery slope to get all 23-25s LTIP in a few years.
Feels like scraps from the table for the floor dogs to fight over.
Guess this email only went out to a certain psg
It’s another DEI initiative
Golden handcuffs!!
Looks like an attempt to retain high performers in lower PSGs.
What PSG’s are eligible?
Vesting period for expanded LTIP only (!) three years...better than five years for existing LTIP applicable for PSG 26+.
I think it will be widely applied...but there will also be some supervisor discretion on who gets it and how much.
I just hope it's not offsetting future salary increases and CIPs. It should be supplementary to these if you really want to attract and retain talent...and make more employees feel invested in the company's success.
Eagerly awaiting more info.
And all of this while we are minting money like never befor. LOL.
Thelayoff is the main communication channel for my old employer (EM) and my current employer (CVX)
Long-Term Incentive Plan (LTIP)
See more:
https://insights.wjohnsonassociates.com/blog/chevrons-long-term-incentive-plans-restricted-stock-performance-shares-stock-options
It’s not even guaranteed for 23, 24, and 25. It’s simply a way to stop people from leaving by making them think they have a chance to obtain something that the competitors offer.
Thank you Noble employees for opening our eyes
"Dear PSG 22 and under,
Pound sand."
Check the intranet (internal system for employees) for further information. They have sample awards and various pay scale grades and their respective participation.
First good thing to come from our favorite talk show host.
Without knowing what percent of EE's will receive it OR knowing how big the individual awards are ... Hard to know how valuable (or not) this new benefit is.
If it was gonna be widely distributed or big $$ ... I feel like they would have lead with that ... Which makes me think both will be small.
What is a "LTIP?"
How large are the grants?
Does the supervisor or second line manager select who receives LTIP?
Email came out 32 minutes ago. Question posed 30 minutes ago. 🤣