So I made the mistake of betting on OXY and rescinded my VSP election. Worst. Decision. Ever.
Previous poster mentioned loss of 2020 LTI awards. I received 2019 LTI but don’t get LTI every year, maybe half of the time. What are odds that this along with the 4.9% base reduction and losing a week of PTO would be deemed good reason?
Also, do I definitely need to lawyer up for this or should I try to apply on my own?
"So I made the mistake of betting on OXY and rescinded my VSP election."
It's true. You can't fix stupid.
Yes you can submit a good reason inquiry. And yes they are required to respond. But bet 100% of the time they will respond “no” and give any sort of reason. Forcing you to initiate the next step if you want to continue to pursue it.
You have to assume the “review committee” aka Oxy lawyers are going to automatically decline every query.
You do not have to quit to submit a good reason inquiry. People need to stop spreading that bull$h!t lie. It’s just an inquiry and they have to review and respond.
Poor soul. I’m praying for ya, whoever gave you guidance should be taken out back and whipped mercilessly!
@ioe+14c3d43J It all adds up though...in a material way;)
@ioe+14c3d43J That sounds like something HR would want me to think. I have noticed LTI awards aren’t always awarded at the same time for every group / individual.
Why would you rescind your VSP election?
The LTI date was in February so the shares we're granted at almost $44/share.
At today's value they've lost almost 75%. So it's not like you didn't lose out on not getting a 2020 grant but you certainly didn't lose out on much.
The problem for all of us is that if we want COC we have to quit and pursue it through legal routes and hope it works out. In the meantime we have to have another job lined up in case it doesn’t work out. You have to assume the “review committee” aka Oxy lawyers are going to automatically decline every query.
That does seem pretty odd that you didn’t receive 2020 LTI.
OP here. Can anyone weigh in on impact of losing LTI? Since I was awarded LTI in 2019 but not 2020, shouldn’t that trigger COC even without the 4.9% base reduction and losing a week of PTO? It was worth more than those items combined even after OXY stock tanked.
hr a$$hat told me they won’t review cases that they already said dont qualify for coc. PTO and 4.9% is not reviewed by committee.