Our severance documents indicate that our 2021 RSUs (3 yr vest) will have accelerated vesting that occurs on our termination date of March 17th for 2nd of the 3 distributions. Our Feb/Mar 2024 RSUs were supposed to vest and they have not. Time to call the lawyers or am I interpreting the documentation wrong?
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The Fidelity rep just spoke to, said he didn’t see any instructions from GF for 2024 RSUs. So, different from “manually slow process “ ???! Wait and see what will happen by March-24-2023…
Well well well, GF just cancelled my owed RSUs... Fidelity received the cancel order this morning. Anyone else seeing this?
@ovf Valuable information is posted here sometimes. Just look back in the post history.
Since you asked, why I like GF (top 5 reasons):
- Just earned 1/3 of my salary with my bonus and RSUs
- Paid very well for my location, and alright based on offers from other Semi companies
- I earn a lot of vacation time
- My role is not particularly challenging, at least in certain ways
- They paid for one of my degrees
Obviously things aren't looking as bright. IYKYK. I have weathered similar storms before and adapted. I have a good level of comfort now.
@qcu+1lJOxyuy
We are all listening, tell us why GF is such a great place to work? Do you love it so much l, that you come to read the layoff threads?
You are confusing sweetness with the saltiness from your own tears
@oyd, I didn't need to contact my lawyer. @adt posted that AskEquity@gf.com indicated that the process is manual and may take within a week to process. That response coincided with the answer I got from Fidelity since they indicated I should wait till the end of the week before they act on my behalf for escalation.
We just sit and wait till the end of the week for that yummy syrup from the dying tree.
I wouldn't hire a lawyer yet. No more than having one review documents
What did your lawyer say @gyr? Inquiring minds!
Here is what I got from Ask Equity:
"It is expected for the accelerated RSUs to be distributed to your individual account within a week of termination. It is a manual process and takes more time to appropriately administrate."
I hope they can handle a manual process correctly and timely.
hehe, your clearly working for GF and spreading that wonderful hate. Keep up the good work chief.
For folks wondering about the RSU distributions, no need to get lawyers, Fidelity support is awesome -> "For individual questions, its recommended that you contact AskEquity@gf.com or Fidelity Stock Plan Services at 1-800-544-9354."
Yes, spend money on lawyers today. Right away. Do it. Call them while you're on break from your perfect new job!
Thanks for the reply. Payout does happen after vesting as our previous one did (ie. we were paid a day after the 28th and the RSUs vested on that day) but the contract states, "Feb/Mar 2024 will accelerate and vest on termination date (2 out of 3 tranches)". No vesting has occurred. If you were selected for the layoff and have these RSUs, perhaps we get these lawyers moving on this.
I was under the impression, payout on the RSU’s is supposed to happen on 3/24. Along with the Severance cash and Cobra cash. Possible they haven’t processed the paperwork yet? With that said, always a good idea to have a lawyer look at the agreement prior to signing it