RSUs

Just got to know something:

If you have been allotted RSUs less than 48 per year, your RSUs won't be vested quarterly. They will be vested yearly. Broadcom has not mentioned it in their FAQs but it was declared by their HR and it's confirmed.
This means that none of the Grade A, B, and C engineers will have a chance to sell their stocks before completing a year.
Having said that, only Grade Ds and above will have the opportunity to sell their stocks quarterly.
It is evident from the deal with CA tech that BRCM prefers experienced engineers and most of the lower level engineers get fired.
In short, if they fire grade A, B, C engineers from Symantec in next one year then their RSUs would also be saved. Clever move.
Something important for grade Ds, even these guys will face issues while selling their stocks quarterly due to count being very low. Moreover, at BRCM Staff designation is not respected much as Principal at Symantec. May be because now they are no longer equivalent to managers.
Now all engineers at one designation are at the same level. An engineer with strong rating, outstanding rating, and stronger results needed - mostly everyone got same RSUs. Ergo, there will be no motivation to work for excellence. This can hurt motivation factor of top performers and Symantec might end up losing it's talented crowd.

All in all, management has been very smart with this deal. Everyone in senior leadership must have got awesome package especially RSUs. When it comes to money and job, no one cares about their juniors/staff. Core values of Symantec will be lost, that is, care for employees, benefits for employees, employees first, advantages for employees, emotions for employees.

Good info from @11AM7Aqj-2jeo.

Comment! It's anonymous!

8 replies (most recent on top)

Oh Lord. When will ye learn. People are simply an unwanted necessity at Broadcom. Experienced or not. There is no halo to protect ye even if you’re experienced...

I have talked to a few Symantec folks that are still holding vested Symantec RSUs. At least as far as US tax policy is concerned there is NO advantage to holding RSUs for one year after they vest. You should sell them immediately.

Put another way, you would be no better or worse off tax wise if you sold your RSUs when they vest and turned around and bought SYMC on the open market and then waited a year to get long terms capital gain tax treatment. However, by selling RSUs the day they vest, you can invest in other growth stocks and avoid having all your eggs in one basket.

For more details see
https://thefinancebuff.com/no-tax-advantage-in-rsu.html

Hopefully most of you already new this, but I know some did not.

My read on the offer letter is if the deal closes in Nov, the grants are issued the next quarterly vesting period which is Dec 15, 2019. That would then mean the first quarterly shares (6.25%) vest is Mar 2020. Is everyone else reading it the same way?

I got less than 48 shares per year and 4 dates of vesting per year.

It's part of my signed offer.

anyway , all i can say , the more we stay the more SICK we get !

better leave healthy since we still have some strength , again the next year will be the same.

Sorry below should have said "today" not "to do"

We were told to do that it applies to grants of 48 or less, nothing about 48 a year that I saw. (This was in the Europe talk given by broadcom HR)

And yet without any actual evidence of the above, it all sounds suspect to me.

Thread regarding Symantec Corp. layoffs

RSUs

8 replies (most recent on top)

Post a reply