Couldnt get details, but major announcements coming.
Anyone hear anything?
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I dont intend to come across as disrespectful but the lack of knowledge here is mind boggling in a way.
RSUs as a vehicle to compensate employees will be similar across the company, when it comes to their legal type. The conditions for these RSUs to vest is what would be different across the levels in the company. i.e a PRSU will only vest for an exec if the company met a certain performance goal.
For most employees its just a time bound vesting schedule. So please don't confuse the vesting conditions with the RSU itself. :) :)..
VP and above receive PRSUs. And they are different and better:
https://www.sec.gov/Archives/edgar/data/1437107/000143710713000024/a104formofprsuagreement.htm
"Execs have ISO rsu’s which are a diff form, than us peasants."
No they do not. There may be different classes of stock in some companies. BUT NOT RSUs. All RSUs are issued under the same type and agreement. Again, its so execs cant say we get all the money and you get none. RSUs must be treated the same.
For those who are curious about what happens to your overall pay package with private equity:
- For those the PE wants to keep, they will pay your your current base and bonus. There may be some additional profit sharing if there is profit to share, but there will not be any RSU or equivalent shares for anyone below the CEO's reports and maybe one layer below.
Most rank and file will see a decline in total compensation. Therefore, only those who are unable to find good jobs outside will stay. PE will at times boost pay for key personnel at levels unseen in normal companies. You need to be really really important.
- For VP and above who are given long-term compensation, payout only happens when there is a sale: the PE exits and you get paid. How much you get paid is driven by how much the PE made as a multiple of return on their investment. If they make 2X, that is meh. If they may 3X that's good, 4X is fantastic and the top execs will reap benefits. Average time for a transaction, 4-5 years.
So if you are an engineer stuck in Florida, either start packing the truck or expect a 20% haircut soon. If you are less critical, count on a buzz cut of 20-30% or be replaced by a remote person.
PE is there to make money for themselves and people who put money in their funds. Employees are a necessary evil.
Execs have ISO rsu’s which are a diff form, than us peasants.
remember, the execs want to get paid also. RSUs need to be treated the same across employees... If execs are getting vested/cashed out at value on their RSUs the employees RSUs have to be treated the same. no legal way around that.
They will just cancel any unvested rsus like they did a couple months ago with the people they laid off.
There’s slight chance that rsu’s vest immediately.
Think this thru. They are buying the technology and human resources. They would be foolish to allow them to vest immediately. There would be a mass exodus greater than what we are seeing now.
They can cut programs as they see fit once the take ownership.
If this what is happening and the investors buy us out. Then Citrix ELT failed massively. ELT could not solve the problems at the company level and this was their solution to it. ELT will be heckled on the street if this is what comes of Citrix
There are two entities involved in this sale, and that means the assets need to be organized where each group walks away with its own cut. This isn’t a partnership — it’s a division of assets. I fully expect all RSUs to vest in cash. That allows both parties to resolve all stock considerations. From there it’s a matter of who gets what, and I would expect that the BUs announced last week defines the split. That’s the “sale” IMO. What happens after that is speculation, but no way these entities (on either side) need the number of employees that are onboard right now. Good luck to all.
Buyout does not always mean instant vesting of RSUs. It depends on the agreement. They could convert to cash bonus at the same vesting schedule. They could even cancel them entirely. Instant vesting for cash is the most likely scenario though. With private equity I would not expect any retention actions as that helps their bottom line for them exiting with another sale.
RSUs will be paid out. No equity or equivalent. No golden handcuffs. They won’t care if you leave especially if you are “expensive “. From experience.
I'm wondering what employee compensation will look like following a buyout. Presumably, they will have to somehow compensate employees that would have otherwise been issued RSUs? Do they increase cash compensation to keep them happy? Do they issue equity in the privately-held organization?
Does anyone here have any experience working at public companies that have gone private? If so, can you share any details about your experience? What were the most significant changes?
No news is good news.
Likely a private equity deal that will mean Citrix can pull back from doing the quarterly earnings reports for the next 3-4 years and re-group, re-organize, re-tool and finally become a 100% cloud company.
Same news https://www.bloomberg.com/news/articles/2022-01-14/citrix-is-said-to-be-in-advanced-talks-for-elliott-vista-buyout
Stock jumped $4.50 in after hours on a Friday.
Citrix almost never moves a penny in the after hours on a normal day let alone on a Friday before a US holiday since Citrix is a legacy, no growth software company that no investor actually cares about.
Something might actually be up here...
Sold!
bankruptcy?
The losing Q4 earnings announcement?
or a private equity take over :-)
Are some of our colleagues at Citrix paid to post at LinkedIn (those few left) i.e. how great the company is and that we are hiring? I mean, I talk to people daily here, and even though some tell me how unhappy they are, toxic environment etc etc and the next day they post something positive about the company.
Who would apply for a job here? Only desperate people I guess.
They already let go of a massive amount of high performers (while useless leadership remains), what do they expect, to get high performers from other companies? How will they attract them? I know that some might thing that those that left didn't perform, that is far from truth, many great talents and people was removed because some of their managers envy them.
I can not recommend anyone to join Citrix, it has become a fire and hire company. And HR is not defending the corporate culture, the culture doesn't exist anymore and hasn't for a few years. HR has been doing an extremely bad job, questioning why high performers are let go.
New business unit staffed only by Accenture. Probably a hiring freeze and shift to temp only hiring.
Rumor has it Walmart is acquisition mood and we are the target!
Have your resume ready
The big announcement will probably be that they are renaming their products HAHAHA Still the same sh---y product just a different name!
I heard multi billion govt contract that’s gonna return the company to its former glory !
Yea. Big culling happening. Heard they’re cutting 85% of the the company