I love spreading knowledge! Did you know that you can go to this link for SEC filings? https://investor.t-mobile.com/financials/sec-filings/default.aspx Like form 4's that let you know when SLT cashes out stock? So while we are all out here worried about or actually losing our jobs our fearless leader just cashed out over 2 million dollars in stocks. Sure it's his money and he wants it now, but its not the best look in my ever so humble opinion.
13 replies (most recent on top)
Hey dingbat, you’re spreading “knowledge” without knowing anything.
Check his Form 4 again. The transactions were covered as part of a 10b-5-1. This means he’s got a plan established and filed with the SEC such that the trades aren’t even subject to trading windows because the plan declares a selling strategy in advance.
It’s not like he can legally halt the trade because there are layoffs. The trade must take place irrespective of whether there’s good news, bad news, price up, or price down.
Great hot take.
You clearly have no idea how compensation planning and decision-making happens. Leaders have the ability to continually adjust salaries every year. Under the VOT program, there was a 2x annual process to make adjustments. Then there's your "brown nose" comment. The only people who think brown nosing has anything to do with compensation decisions are those with sh---y attitudes, low self awareness, or low performance. All that said, approaches may vary by org and manager, so your perspective may be the reality for your team. It's just a sh---y one, if so.
You're correct. If you've been with TMO longer than 15 years, the next person who came after you got a larger salary. And the one after that even larger. And the first person never catches up (unless they have a brown nose).
There's been a couple of "salary leveling" exercises, but overall, T-Mobile's pay bands are not competitive, at least in the Seattle area. That's why tech folks come to T-Mobile to start, get their experience and then go to Google, FB or Microsoft at a higher pay, signing bonus and a better stock package.
"But I know a lot of people who just sell it as soon as it hits their accounts."
Yep, I sell it and reinvest elsewhere tripling it.
The salary comment is interesting and it must vary widely between orgs and roles. I've found that T-Mobile pays the best of all carriers and telecoms in my job area and have heard internal and external people agree. I also know this from job postings I've watched for the last 6 months as they almost always consistently cap at a max that is less than my current salary. More often than not, if your salary isn't highly competitive, it has more to do with how historical performance has impacted annual increases.
@RSUESPP -
Some of us had to sell them in order to make ends meet, because the salaries at TMO are the worst in the industry. I've sold most of mine along the way and now have ZERO DEBT. So if I get the notice in the next 3 weeks, I'm ok. Will give me the push I need to get out of the toxic Pacific Northwest.
Periodically balance deez nuts. I bet he gets awarded ridiculous amount more after this layoff
@RSUESPP -
You'll get better returns and less volatility if you periodically rebalance your portfolio. Holding the same stock for 20 years, especially if it's a significant part of your portfolio, is fraught with risks.
I've worked with people who did that, and woke up one day to find that they were $300,000 poorer because the stock tanked over something completely unexpected.
Yes you can read up on fidelity. Talking about stocks, I hope everyone has saved them throughout the years. I haven’t sold any since I started with TMO almost a decade ago. I’m glad I have a safety net with that to fall back on. But I know a lot of people who just sell it as soon as it hits their accounts.
Why get annoyed with things way beyond your control? That's energy I can focus elsewhere.
You just now figured that out? If you're truly an employee that has stock you would already know that and would be looking at that routinely.
Equally as annoying is Sievert’s cheerleading on his LinkedIn profile boasting about Sidekicks Conversations. Thankfully there are a few posts calling him out on the timing after smoking 5000 employees.
https://www.secform4.com/insider-trading/1182438.htm
heres another one for you, sells on the top. gifts and awards on the bottom