Got an email today that Shell will no longer do share awards. So they are giving a one time award.
Bling bling.
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Super PSP this year though! yippee
PSPs su-ked anyway. Never did I receive full allotment during vesting as it is always based on business performance. So 400 shares may only be 350 when vested. I’ll take the loot, Shell can keep their sh---y valuation.
lol @g6+1jnp3x3k4
I’ve gotten PSPs as a JG5 too and heard stories of other people getting as well.
Anyway, shame that the potential benefit is gone.
They keep making it less and less worth it to work your rear end off for something.
20 years ago as a Jg5 I got PSPs too. It was 125 shares base as a JG5. Then 250 as a JG4 then 400 as a JG3 and 800 as a JG2 in the US. I had a Canadian friend who got 800 shares base per year as JG5-JG2. So, it is country dependent and dependent on whether they are ADS (American Depository shares) or the European shares version. I think that the Canadian got the European shares not ADS. once upon a time ago 10% of JG5's got PSPs.
@aq+1jnp3x3k4
JG5 and multiple PSPs? Gotta call bs on that, I’m not even sure 5’s are eligible for PSP. Let me guess you also got Outstanding for every performance cycle too
They made PSPs so damn hard to get they might as well have gotten rid of them several years ago now. I only know a handful of folks who had/have them. Honestly they sort of we-ponized them to keep folks around COVID times.
Let's keep cutting pay and benefits just to make sure we are not competitive for entry level new hires. Instead maybe we can use our male identifying spokes-thems by having they/them wave a big rainbow flag at public events so that the malcontent Gen Zs just beat a path to our door. And then WHAM they'll be caught in our better mousetrap faster than they can say "how did I fu-k up such a promising career so quickly?"
It's from "HAG HR Performance" titled "refreshed approach to share awards"
JG4 US, didn’t get an email about it.
who was the sender?
I think it means that we get the 3k to placate us for no more future PSPs. We still get to keep any granted PSPs until they vest.
only people received PSP awards in the last three years got this one payment.
jG4, us, got about 3000 dollars. Does that mean the psp value is only $3000, like cash out the share?
It’s a transition payment, all communicated as part of the changes in PSP allocations
JG5 technical, US based. Got PSP last two years and received around 3k USD for discretionary award. Sad to say I’m not surprised it was taken away - seems like the company chips away at benefits each year
I haven’t seen anything announced about this yet…? Maybe it’s business or function specific?
How much did everyone else get. JG4 LTIA here. Equal to ~1650Euro
They actually got rid of share awards much earlier. I think Q1 2024 for JG4 and JG5.
They also shrank stock comp for JG2 and JG3. Wael seems to need or want a ton of stock based on how he is buying it up on the open market.
I really hate that he won’t let the employees benefit if he thinks the stock is going to go up since he talks about team work so much. Makes him very obviously look full of cr-p. “we reward performance” . It also makes me wonder if instead he simply needs a lot of stock for some deal on the horizon because are cash poor and interest rates are bad.
For JG2 and above (and to some extent JG3) not getting a PSP was a good sign that you were on track to get tossed in the next layoff. Looks like they're removing the writing on the wall.
If they do away with other future obligations what's next Pension, 401k contributions reduced, insurance options, what else?