For those getting RIF notices this calendar year, I.e. not those notified in Nov last year… how are your severance benefits? I got my update and it’s not the same compared to the Nov benefits. Especially the stock vesting… I didn’t get my stock to continue to vest as per original plans. It’s prorated and that means I lose out on the next two years worth of stock vesting. Discrimination at its best. Please share if you have any updates.
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@bd where was this stated? In Dan’s Doomsday email on Nov 20?
@bm I’m not talking about STI. Talking about LTI/stock awards
Yes I can see it on workhistory >>current paycheck will be disbursed tomorrow. I am getting the max STI .
Are there 2026 RIF notices already sent?
@aw I knew someone would just repeat the official statement. Thanks!!! The Nov RIF offered full LTI to continue vesting as per schedule even without retirement. Not pro rated! That was a special severance. If you or someone you know was told that their role is eliminated this calendar year, I’m curious to hear how is their LTI treated. Like standard prorated or the like special treatment from Nov.
The terms are clear in the Stock Together document: your award is PRORATED unless you either 1.) officially retire as retirement-qualified, or 2.) separate due to disability at the time you transition from STD to LTD. Those are the only two scenarios in which anything unvested will IMMEDIATELY vest. This means ANY separation AFTER you’ve been served a layoff notice WILL PRORATE your unvested awards.
If You Leave Verizon Before the Date Your Stock Together Award Vests
The reason you separate from Verizon determines how your RSUs are treated.
• If you voluntarily resign (and are not retirement eligible or have not attained age 55 with 5 years of
service) before the applicable vesting dates your award will be cancelled immediately and you will forfeit
any unvested RSUs. If you are terminated for cause at any time before the award is paid, you will forfeit
any unpaid RSUs (vested or unvested).
• If you retire when you are retirement-eligible (as defined in your Grant Notice) or separate from service
due to death or disability (or, if you are an associate, because the Company accepts your volunteering to
leave the business as a result of a surplus declaration or because you exhausted a MRP leave) on or
before March 1, 2027, your unvested RSUs will vest and be payable as soon as administratively possible
after your date of separation. If you die, any payment you would have become eligible to receive will be
made to your estate.
• If you are involuntarily terminated without cause or separate from service under a company provided
severance plan (and are not retirement eligible), or, if you are a management employee, you voluntarily
leave having attained at least 55 years of age and 5 years of service (but are not yet retirement eligible)
you will vest in a pro-rated portion of your unvested RSUs based on the number of days that you worked
prior to the next scheduled vesting date, and you will forfeit the rest of the unvested RSUs. For example,
if your last day worked is May 31, 2025, you will have already been paid for the first tranche of your RSUs
that vested on March 1, 2025, you will vest in 25%of the RSUs that are scheduled to vest on March 1,
2026 (you will have worked 3 months of the 12 month vesting period for the second tranche), and you will
forfeit the remaining 75% of the second tranche of RSUs and the full third tranche of the RSUs that were
scheduled to vest on March 1, 2027. The portion of your RSUs that vest will be payable to you shortly
after your separation date.
@OP Today!?
@a8 got Rif’ed. And read the severance agreement that specifically highlights the stock vesting terms.
What does "got your update" mean? Did you get rif'ed, or are you phishing?