I see many BUs are under doom line, and also restructuring in vmw acquisition.
What had happened historically if Broadcom sell off a business unit. Do they vest at least 1 year pending RSUs immediately?
Appreciate a proper response, as it would help people to manage finance accordingly.
If you leave you get all your RSUs plus additional severance RSUs of 5x your original grant.
Isn’t Hock great!
Re: @bz+1jkhp6saf Section 2.4 or the grant agreement specifically says a Change in Control results in immediate vest if the successor does not assume, continue or substitute RSUs. However, Change in Control does not and cannot be construed to apply to divestitures. It refers to Broadcom as a whole.
In a divestiture, any treatment of existing RSUs is at the pleasure of the acquiring company and would only be to induce people to stay. In the recent product spin offs, I don't think Broadcom has done any accelerated vesting, I think the other party offered.
At least with Blazemeter, the company that purchased them did pay a one time bonus equal to a year of RSUs for each person. So I am sure you’ll get something…. But it won’t be great.
Please don’t tell me you’re from Symantec/CB
Are you talking about ESG ?
There is no such provision. The RSU disaper the day you leave. I have seen them time some layoffs after the closest vest.
Read the BC employee stock plan document, as last approved by the board. Last version of that document that I read (~December 2023) did not include any provisions for accelerated RSU vesting upon change of control (i.e. acquisition, divestiture, or spin-out). It's possible BC has since added such a provision, but let's face it - what are the odds BC would do so?
Some companies have special stock plans just for their senior-most executives, that include different provisions. No idea if BC has such a plan, and/or if that plan includes change of control provisions.