How long will they hold like this?
13 replies (most recent on top)
"You're championing for a system that leaves us financially worse off. What a waste of time and effort."
You don't know what you are talking about. You must work for Betsy. Right now the stock is in limbo. They are holding it back and not saying when we will get it. We could sell now before it goes down if they gave it out like they are obligated to. The fact that this situation is happening shows that they don't know what they are doing.
"You think it through. The elections would be contingent on the stock vesting and the people taking possession. If they can make contingent job offer they can make contingent stock elections."
You're championing for a system that leaves us financially worse off. What a waste of time and effort.
"Just think this through a little bit. You are suggesting people can make decisions on how shares are converted that they don't yet or may never own."
You think it through. The elections would be contingent on the stock vesting and the people taking possession. If they can make contingent job offer they can make contingent stock elections.
". Those RSUs are not created from thin air, VMWare owns them and I expect that someone else would have had to have made an election decision."
Actually, that is literally what happens some of the time, depending on how many shares are in the company treasury.
"They could have allowed preelection for the November 1 stock vesting."
Just think this through a little bit. You are suggesting people can make decisions on how shares are converted that they don't yet or may never own. Those RSUs are not created from thin air, VMWare owns them and I expect that someone else would have had to have made an election decision.
Hedge your stock.
The stock hold and the pre-close offer letters and the lack of approval for the deal up to the last days shows that we are dealing with people who don't know what they are doing.
Either that or this is in some way advantageous to Michael Dell
They have known forever that people had vesting on November 1. They could have allowed preelection for the November 1 stock vesting. This hold just shows that they were not prepared for what is happening. I have been in many mergers and acquistions and there was never an election period. The stock just converted on the day that the deal closed. The stock hold and the pre-close offer letters and the lack of approval for the deal up to the last days shows that we are dealing with people who don't know what they are doing.
If the stock isn't being released due to election period, they need to just say that and a lot more people will understand. The email they sent makes it sound more like they decided to make us wait.
The hold will last until the deal falls through on November 26th and then the stock price will plummet.
What I heard (not sure if true) was that RSUs are not being issued because of the stock election period. If that were reopened, it would have to stay open for 30 days by law to allow people time to make selections. That would imply that the deal cannot close for at least 30 days, something they don't want to say.
Not sure how this can be legal. Contractually they are obligated to release the shares. They are prohibiting so many of us from having the use or benefit of these monies. NPV = I could have used these RSUs to convert to other investments. Meh
think you meant "Not allowed" -- no one knows, its weird and I was not away until the email we got that "vested" shared could be blocked from release.