So if you have been at VMware for less than 1 year I guess you have no grounds for severance right?
What about RSUs that would vest over 4 years.....can you still be entitled to them?
Otherwise no point sticking about ...
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sign on bonus isn't payable if you get laid off, it's right in the contract - it's payable if you leave "voluntarily"
If you're part of something of value, you'll come out of this just fine, probably better than what you have now.
If you're filling a bu-----t seat... welp.
Didn't you read below. A big post about that very topic. Unvested are not owned by you until vesting date while you are employed. People they keep they will do something with for that, people they don't probably not much of anything other than severance.
scroll down. read.
What happens to unvested RSUs if you are not retained? You're out of luck? Or they accelerate the vesting and you are paid out and goodbye?
Financially, you will be fine.
99% that you will get the same or better offer with the assumption that you are in R&D of a profitable product.
At Symantec time, they gave me X and took Y. Since X >= Y, I was fine with that
As for your severance, typically a severance package is something like:
3 weeks pay + 2 weeks for every year worked. Plus x number of days (or months) healthcare via cobra.
Some are more generous than others. But this type of conifg is not unusual.
there are several ways unvested RSUs are handled in an acquisition like this. Often your existing grant is valued and then converted to stock in the new company with the same vesting and dollar value on the day of closing. This is typical of public company to public company take over. But doesnt happen every time.
Now, THEY DONT HAVE TO DO THAT... you could vest right up to the point of closing. Then they terminate the rest of the vesting. I mean you dont actually own the shares yet. That has a lot of negatives and is often frowned upon and legally with you still working for the company and all they generally dont want employees to feel stiffed.
(if this were a private take over they could convert the value to cash and make it vest on the same schedule, just giving it to you like a bonus. doesnt always happen though.
Finally (for those they wish to retain) they could split the baby. take your RSU value, convert it to cash value and give it back as a retention bonus. X$s every so often, etc.
All of this depends on the deal worked out. I have HEARD from 3 people I know that went through this with CA and Symantec that for those that are retained there is good money on the other side in bonus, retention dollars and stock. yes its not the kumbaya, rah rah, feel, but all 3 of my friends said they wound up making more money on the other side of acquisition.
For details on how and who they cut check out the broadcom employee thread . The only fly in the paint on this is that we are bigger than all their software division and they may retain more of our sales and marketing than they did with the smaller players.
But for those not retained... Out of luck. severance maybe an acceleration of vesting your next round RSUs or something. But not much else.
I've been through 4 acquisitions. 3 at startups to majors and 1 a semi-major acquired by a major player.
Yeah I am in same boat. Only thing I need to figure out is what will happen with my signing bonus. But I may be able to negotiate that it gets paid back by company that I move to....