I don't see it published anywhere, but perhaps someone is close to the data and feels like sharing.
I'm interested to know what % of employees have not accepted the award. A high enough % of employees not accepting the award would reflect chronic dissatisfaction in a way that an annual survey could never convey.
Even with a high % saying "meh, F it", I wouldn't expect hurt feelings from the C suite. This is more about enjoying a moment of validation.
wow - the OP is a mindless f-u-c-k-ing mo--n. Do you understand "free money" and "no-risk"? there is no downside - sure it is a pittance but it's worth a little effort. If you're wealthy enough not to stop to pick up a stack of $100 bills, then I guess you can reject it and "send a message" -- what a id--t.
It was 2 years last time. Fall of 2017 to fall of 2019. It was before covid
If you are downsized / displaced etc, you get to keep the RSRs. I don't think the vesting schedule changes, but you do still get them.
Not sure who would be d-mb enough to do this
If I get displaced in the next three years do I still keep the award or not?
People leaving voluntarily shouldn't get something like this, but people that are downsized do get to keep their RSRs, so I'm not sure this is a "we'll just fire everyone before these vest!" situation.
Either way, profit sharing is superior in ever way.
I had a stock grant years ago from a financial firm that ended up being worthless during the financial crisis. Wells Fargo is a garbage company and they know few of you will be employed there in 4 years. A quality company would do profit sharing, not hollow gestures
Yeah, the last one had a cliff vest, for sure. Think it was 3 years, but regardless it had one. I'm not complaining about the free money hand outs, I would prefer annual profit sharing however, like we used to have.
So hard to tell the difference between a troll and a mo--n here
@ba there was a waiting period when Tim Sloan gave us the 50 shares, but it wasn't 4 yrs.
@ba ummm... completely false. There was a 3 year cliff vest on those shares. Or maybe it was 2? There was definitely a cliff vest though. I sold out on x+1 day
really grasping at straws here.
accepting the terms of a restricted stock award has been standard practice here for at least 13 years (as long as i've been here, so maybe longer)
they remind people because most people haven't received this type of award before and aren't familiar with it.
@d0 if you retire, die or are displaced you will still get the award after it vest!
Just accepting the “award” is an intelligence test. Jumping through hoops to even accept it instead of the award just being automatic was telling enough. Considering the fact that you have to wait for it to vest in the face of potentially being displaced before you can collect on it is telling as well. It’s a “gift” that they don’t intend to deliver on. They never did. It’s for PR. Accept it for what it is and strap in. At the end of the day, the only question that anyone should be asking themselves is if it’s worth it?… spoilers.. it isn’t.
OP participates in what kind of fruit survey are you and accepts the risk blindly but won’t read simple words for gifted stocks from their employer. Reject it stupid.
When Tim Sloan gave us 50/shares, it was automatic, no 4 year games, no sign your life away, 10 pages of paperwork etc.. the mgmt here doesn't think WIN WIN any longer, its just they WIN and the worker takes it up the rear.
How many folks will be left after 4 years? It's a hollow gesture with the continual layoffs and likely recession at some point. Wells Fargo is a garbage company with a talentless CEO so the award is worthless.
@OP
I was thinking this very same thing when I saw the thing on team works about going out and accepting your award.
I mean, they sent comprehensive instructions on how to do that so....
I bet there are some people who just say sc--w it. I understand, it isn't alot and it takes what, 4 years to fully vest?
I haven't done it yet. Not jumping up and down looking to do that but I will.
The C Suite, they are awarded millions due to our hard word
I wouldn’t be surprised if it’s more than 10 percent. A lot of dull people work here.
There's no way they are releasing that info, but I'm guessing that a very high % have accepted. Why wouldn't you? Don't like money? Especially when being downsized doesn't take it away.
Free money, no risk. Only stubborn fools not accepting
Why do you think that would be public knowledge?