When the company announced no bonuses, what did that mean? Are RSUs considered bonuses?
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The company awards 2 forms of variable incentive pay 1) Restricted stock (Equity), and 2) Earnings bonus units paid in cash. EBU payout is based on a formula based on earnings so with this year's terrible earnings it has been reduced to zero based on longstanding board approved formulas. It represents 10 to20 percent of executive compensation. RSU were awarded this year under long standing formulas process based on ranking. Generally, for non-executives, only CL26 to 29 in top two quintiles qualify for RSU (no EBUs are awarded below CL 30). RSU represents anywhere from 10 to 50% of total compensation, depending on ranking and CL. For CEO, RSU represent over 50% of compensation and cash bonus only 15 to 20%. Poorly ranked executives do NOT receive EBU or RSU, so Executive ranking can have a big impact on total pay. XOM executives will have ahd their compensation cut 30 to 40% this year due to no EBU and low stock price effect on RSU.
restricted stock units
How highly rated do you have to be to receive RSUs?
RSU already awarded. Cash bonus was eliminated this year.
I received my 2020 RSUs last week.. in outstanding category.
They keep it very hush hush, not sure why
Got my 300 RSU for 2019 performance year. Awarded Dec-2020. Let's see if they are still awarded for 2020 performance year.
Yes, you sound dumb. A simple google search brings you here:
https://en.m.wikipedia.org/wiki/Restricted_stock
I may sound dumb but what is RSU?
I came to work for Exxon USA in 1984. I received two bonuses over these 36 years. One was an agreement between the “Federation “ and XON that we’d receive a one time lump sum instead of a wage increase and the other was a “Coin Your Idea” award I received.
Over these years I’ve reached 27. Still have not heard of a “bonus”.
Where are you people from? A recent acquisition that required XOM to continue stupid things like bonuses?
What is RSU?
What’s a real shame is that fact that people are too uncomfortable to ask try’s equestrian to HR. They come here instead! This is a symptom of toxicity.
Probably RSUs are safe because they need those sheeple who receive them to keep voting in line with the boards recommendations
They most certainly should be.