If there’s no hard date on the close, and they have all our shares tied up from the election, how much longer til they have to relinquish the shares? How is this even legal?
12 replies (most recent on top)
Twelfth of Never
It’s def not legal
It’s a good question. Half the stock is owned by Dell/SilverLake and they are blocked from selling it prior to the deal close (by agreement).
The other half, now some 30 odd billion dollars, is held by the public. That is a lot of money to lock up as long as this. Would imagine the SEC is starting to take a dim view and hedge funds and others are complaining. There is a good argument that they either close or release the shares, promptly.
Everyone was supposed to be paid out by now. At 5.5% treasury yields, the opportunity cost on the illiquidity is expensive.
SEC fines are minimal. No shame attached to breaking rules and paying fines. Happened many many times.
"The question is how long can the general stock be blocked for trading? Not rsus."
RSU is a contract for getting stock that has special tax rules. Once they vest and you get them it is VMWare stock. The stock is still trading, just a low volume. VMware has no right to hold up the transfer to the employees.
The question is how long can the general
stock be blocked for trading? Not rsus.
“Its legal. RSUs are at the discretion of the company.”
You are a clueless fool Grasshopper.
Vested shares are income like any other — we’ve already paid taxes on them and the money is absolutely yours.
Its legal. RSUs are at the discretion of the company. They can even vest it and prevent you from selling if they want to. It’s not like salary. Think 401k. The government can make whatever rules they want to determine how you use your own money.
It's not legal. It's like holding up your paycheck. They are just doing it. Everyone should report them to their employment comissoin and their State Attorney General.
Until someone sues them.
Nov 26th?
Dec 31st?