If you are lucky enough to get LTI, how does that work? Do you get that amount of RSU every year? Or only get refreshers after the original amount runs out(after a few years). Every company is different
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The LTI grants vary by grade level and rating (3 and up). Eligibility increases by grade level and to 100% participation rate at higher grades. A different schedule is used for Petrotechnical positions.
30 months is terrific. APC's COC topped out at 24 months.
@1enx+1lOMD1r8, most employees taking a VSP are thrilled to get it. The last one topped out at 30 months salary for older long term employees. Many had jobs waiting for them elsewhere and others just retired. All thought the deal was more than fair. You’re the first I’ve heard of to call them suckers. Sounds a little childish.
Oooh..Another reason why I took the COC. LTI's vested! Got em all!
@ijdm, why would they pay when suckers like you take the VSP and go without paying?
Mine have been coming every year after my first year, and they are nice to supplement my income. For me the program has worked out well. At some point I will leave and just have to leave some LTI behind, but while I get them I just look at it as extra income, and appreciate getting them.
They give you shares that vest 1/3 every year. Then when you quit you leave lots of money on the table. It is a great design to keep you working. When you help the company out by taking a VSP they sc--w you by not paying out the rest of your unvested LTI. How cheap. Hopefully in future VSPs the older employees can protest this by not taking the VSP unless they pay all of the LTI out. If you want people gone you have to pay!
LTI's were never the annual geometric progression as per the previous post. They were always awarded as a percentage on my base salary. In the beginning it was given as a combination of stock options and stock grants. Options always had a high strike price and it took some effort for them to pay out. The last 10-15 years the company changed to a stock grant award only. There was some latitude by management as to the amount given each year, but it was not uncommon to get grants equivalent to ~50% of my base pay. Three year vesting period.
They give you double the shares every year. If the first year is 500, then the next is 1000, and the next is 2,000, then 4,000, etc until you retire. It’s good to be lucky.