I'm being let go with the rest of the lot in August. I have a lot of shares, like others, that appear in my Fidelity account as Restricted Stock Units. Once I'm laid off, am I able to sell those? (I already know there's a tax penalty, I'm just wondering in case things get tight months down the road and I've run out of my severance money, is this money I can tap into or no?)
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I had Stock Together options when I retired (a bunch of them). They were all paid out over a 6 week period so I didn't get completely taxed to death.
You'll be able to see them in your Netbenefits account. The payouts are done to your Fidelity account as cash and you can redeem them to a bank, for example (that is what I did). Since you aren't an employee any longer, you'll receive paper pay stubs in the mail with the tax witholding.
If you want to roll your 401k over, look at the options - I decided to rollover to Fidelity IRA and it was seemless. No checks for hundreds of thousands of $$$ in the mail. All done on line. Research it for yourself and decide what is best for you. Fidelity does have other fund families available through them (T Rowe Price, for example) that you hold in your Fidelity account.
Hope this helps and good luck!
TOO MUCH DEBT AT CURRENT FED RATES....PERIOD
Contact Fidelity for questions on RSUs. But if you want to cash some RSUs ,, you will end up adding your bank account to Fidelity then doing a transfer from RSU acct to checking acct. . Allow up to 48hrs .
I wonder how many FAQs are out there. In my VSP detailed FAQ #13 answers the question on RSUs then it is repeated in 84 with some additional stock together info in the following #s. It also shows in on the aboutyou volunteer in the outstanding executive LTI/stock together in #2.
@1gul+1tv917gl
Typically RSUs in non VZ companies are awarded as actual shares when they vest, potentially minus tax withholdings since they are income. VZ just pays them out as cash minus taxes no actual shares are awarded at least at my level or the documentation I can see.
Under normal circumstances someone eligible to retire can choose thier retirement date which controls their vesting date of RSUs. I personally wouldn’t try and line up my retirement date to tax dates or some potential stock increase but maybe someone given enough shares at a high enough level might.
Active employees it's sold when it vests and is deposited to Fidelity account
Terminated employees, all vested is automatically sold and the cash deposited to your Fidelity account. For the VSP or retiree, all unvested will vest first. Not sure about vesting rules for a regular RIF.
Simple, see?
@1svi+1tv917gl
RSU is **not ** real stock, how retiree control when to sell ?
VZ “RSUs” aren’t like other companies programs. Except for someone who retires employees have no control of when they are “sold” and no one can hold onto stock together hold for a rainy day.
Hans needs to go he thinks he's a celebrity check the instagram
Not just VZ, but why society as a whole is failing. No one wants to read, just wants to be told but the information is. For some, companies have to put in a tiktok and likes for them to digest the information. To much effort and stress in reading. You can lead a horse to water but now have to show them in a dance video on how to drink.
This is why vz is failing. Employees have the info and still ask
For details - Please Refer to FAQ
Section 5 RSUs and PSUs
Q1- If I received RSU as part of Stock Together program,
In goes into Hans pocket Andy's getting a new Rolex on your dime now move on.
Great question! I have read and reread the information provided and I still have questions. You can ask Fidelity for options and clarification. Best wishes on your new journey.
Your RSUs get sold and the money is put into your Fidelity account.
well I did read it and it didn't mention those restricted units. Which is why I'm asking on this BROAD. Do your homework and learn how to spell before you try to be a smartazz.
Go to read Your Verizon Severance Program FAQ, it has answer for your question
No need to ask on this broad if you did your homework