Thread regarding Optum layoffs

Read your plan document. If you are getting severance, for the duration of the severance period you will continue to get RSU's that vest during that period. So if you get laid off in December, with 12 weeks severance, and you had grants vesting in Feb, you will get those. Don't remember if it's the same with option, but to your point, probably doesn't matter with the stock price where it is

Any stock that vests after your last day is lost. You don't get it and there is nothing you can negotiate. Either take the severance or don't. They used stock awards to make you think they were giving you something aside from a raise/bonus and they have no issue not letting you have it. Sorry you were bamboozled like the rest of the people they don't care about. Think of all of the people who were laid off that didnt have any vested stock, weren't getting good raises (you probably gave them 1-2%), and got shiite bonuses. Consider yourself lucky that you are in a better position than all of us regular folk who did all the work and are getting thrown out with hardly anything.

Call Netbenefits to see your options and get the truth from them.

A lawyer will be a waste of time. Your severance offer is it and our employee at will status eliminates any ability to fight it.

Good luck getting an attorney to even look at the separation agreement. I was laid off earlier this year and called several offices - short story not worth their time....... . :-(

@bn you mean ask copilot

@OP pull your grant docs from Netbenefits.com. Those are the terms you agree to when you accept stock unit or non-qual stock options grants. There are specific details about what happens to the unvested portion of RSUs during voluntary or involuntary termination of employment, when accelerated vesting is allowed, and any restrictive covenants in force, like NDAs, non-competes, and non-solicitation. I think anyone 32 and below only has the non-solicitation clause. Anyway, those docs will tell you if they sc--wed you. Best of luck.

I would not engage a lawyer here but rather write it off. 30k after taxes is going to be closer to 20, a super law firm from Optum will have written an ironclad piece of contract language when you started and when you got RSUs, and any lawyer you hire at an amount that would make sense to recover this money isn’t going to find some g add p in that . It’s lame that they cut you off before vest but it’s not worth more investment.

A 31 asking us. What a je-k

Unless they were vested they are gone. Not yours. Notice how many C suites stay on the books until after the February vesting. Termed…RIF…quit…and you are off the books.

Any vested is yours

My current Goal— to stay past last vesting date in February. 😉

Does it explicitly say you are not getting the RSUs? I was impacted in May and it took several weeks for UHG to communicate with Fidelity on what would happen with my options (3 months to exercise). I’m wondering if this is just a gap in communication??

You are better off asking ChatGPT than this site.

Worth looking into. Not to scare you and more to prepare you: once your attorney reaches out to UHG they will likely remove any remaining access you have to our network or buildings, and keep you on garden leave until that last day.

I’m in a very similar situation. Waited years for a sizable RSU vesting only to have it all snatched away due to a a layoff happening a month prior to my vesting date. I’m speaking to an attorney today. There is actually a lot of precedent out there for this situation and you do NOT have to just sign the letter. Everything can be negotiated.

If there are many others out there in similar situations we could consider forming a class action lawsuit.

nothing is your until vested.When you are granted stock options, you may not own them immediately. Vesting schedules determine that

Consult a couple of attorneys, see what they say and take it from there. Worth a shot! This way you will have a piece of mind and have some answers! Best!

Forget about the RSU - they may be giving you severance now, but they could also take that back and not offer you anything if you demand the RSU.