If you ever questioned the cruelty of this leadership just look at this latest announcement. All employees will get a $2000 award for their hard work lifting the asset cap over the past 7 years. AND THAT AWARD WILL NOT VEST UNTIL 2028! Likely long after Charlie and his minions have taken their money and split. It’s a slap in the face at this point.
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@cv why not incur expense all at once? Stock buybacks are occurring anytime they feel like it with a much bigger pool to use.
“if you’re an employee you get it. Doesn’t matter about notice period stuff.”
Not necessarily true. Wait til they list the Ts and Cs. Current RSRs will be lost if you retire and go to a competitor. We need to see what happens here.
55 dollars a month!
@d2 No. if you’re an employee you get it. Doesn’t matter about notice period stuff. You’re an employee
@cx no access to it unless it’s in the public domain did they differentiate between working and non-– working notice?
Read the additional info. Those active as of 6/4/25, will collect even if laid off. Unless you’re terminated, you get the grant
Original Poster for some reason thought the company should be willing to incur a $400 mm expense all at once.
I am no longer at that he-l hole. Did they give this to everyone in the bank? After tax, that would cover a few months of parking.
Ungrateful. The bank owes you nothing.
Should have limited to everyone who was here 7 years ago. Recent hires get the same amount.
“I would rather you just say thank you and went on your way…..I don’t give a damn what you think you’re entitled to!”
Too f'ing funny. Money you can't spend.
Was it revealed the date on which you need to be an employee to get the grant?
Yeah its smart from their perspective, I mean they're counting on people to quit before then so they get nothing and save money. If they really wanted to thank you they'd give a cash bonus like the 6 mil he got.
That is absolutely nuts and demands a palace revolt. Not even pro rata vesting? As a reward for everything you’ve done in the last several years here, I’ll pay you this loose change if you’re still alive in three years.
Should’ve known this would be a slap in the face. “We know you’ve all worked very hard the last 7 years. So please work an additional 3 years in order to receive your token reward. Otherwise you get nothing. We really appreciate you!”
WF the Bank of Doing everything to set the bar lower for peon employees. These guys could not be more tone deaf or out of touch with the majority of people “working for them.” To call out in the town hall that this “award” will mean more for lower paid employees and then sharing that the “award” is available in 3 years is insulting. And what if people got their hopes up when they read the initial announcement? What if they started to think they might have a little relief with the bills, they might have a modest vacation with their family, they might actually be able to put some money in savings. Only a-holes who don’t need money would do $h1t like this to other people.
Great job guys! Keep congratulating yourselves in your echo chamber.
if you are laid off you get to keep the award and in 3 years you can cash them in. also. it is $2k worth of shares not 2k shares. Also, in 3 years those shares will likely be worth more, and potentially a lot more so your mileage may vary in terms of actual value when you vest. don't forget that when they do vest in 3 years they will sell some of the shares to cover taxes on the value of those shares at the time. If you quit before the 3 years you lose the shares.
No tax on tips
@a4 No, they were 2. It was November 2017 to November 2019 because I sold pre-COVID.
@a9
That would give a new meaning to "Indian giver" lmfao
Hi I have been trying to reach you about your cars extended warranty and your extended RSRs.
the normal RSR vesting schedule is 1/4 every year so leaving after 2 years gets you 50% where leaving after 2 years now gets you 0%
carrot, stick. Nothing new.
Will getting laid off this Tuesday, June 10th keep a person from receiving the 2,000 restricted shares? (That old saying, you can't take it with you). Syke. What a carrot for some of us. It would be nice to be able to keep it with the Golden ticket though.
2017 RSRs were 3 I believe. Either way, a lot of us won't be here that long.
That's faster than the normal RSR vesting schedule, what are you complaining about?