I was under the impression that RSRs continue to vest when you're displaced, but the Severance Plan simply says to refer to the RSR agreement. That agreement, unless I misread it, says that they only vest during a retirement. This may not be the place to ask this, but does anyone have any clarity on this? If not, who do you ask?
A serious question; if you're compelled to just offer snark in response please choose another post.
(Thx @cb+1jvmqy6j for replying back.)
OP here; I did call and speak with Compushare; they confirmed what others here have said; for those formally displaced RSRs are retained and continue vesting along the regular (annual) schedule. Thanks to those here who took the time to reply.
@aw+1jvmqy6jc OTOH, no answer will lead to anything the OP can do to change the truth or decisions. But OP is getting encouraged to call and confirm anyway.
Would you trust any answer to something so critical from an anonymous forum? That’s the question you should ask yourself.
rsrs only vest immediately upon death. if you quit you loose them but if you retire or are displaced they will continue to vest each year accordingly to their existing schedule which for most is 4 years.
The language in the grants (see it at EquatePlus) is TERRIBLY written because it’s buried in a section discussing change in control. But there’s an “or” clause implying continued vesting when you get termination without Cause resulting in severance. See section 4(c)(2) in particular.
But if you do call the displacement staff, PLEASE REPORT BACK WHAT YOU LEARN!
Just call the dedicated displacement ops # vs here, they know what they’re talking about there and it’s onshore folks too.
They don’t vest immediately. They vest according to the schedule. This started about 3 years ago. Prior grants were immediate upon displacement.
It’s probably a good thing as it provides a multi year off ramp from wf and pays over time which may help with tax implications and also provides income years after leaving wf. I like it.
They continue to vest as normal if you are displaced. I was let go earlier this year and called to confirm.
so if you are retirement eligible when working notice ends then they vest
it not then you lose
i am pretty sure how that works
You don’t receive any of it if you are laid off. If you are retirement eligible you might be better off leaving on your own accord.
"A serious question; if you're compelled to just offer snark in response please choose another post."
That's more of a request than a question, no?