Why is no one investigating this with a lawyer??? With thousands of us affected is this not valid for a class action lawsuit? I’m going to be speaking with a lawyer today Re this
The RSUs are one thing, the stock you tendered to the merger is another
VMW made the decision to hold back the Nov 1 RSU. Su-ks but probably they can do this.
The common stock tendered in the merger election had a deadline. Prior to the deadline a person could revoke their ejection. After the deadline, they cannot.
Ordinarily a deal closes after the deadline. This situation now is pretty much unheard of. The stock, for everyone, not just VMW employees, is in a dead zone, locked up. it cannot go on forever
You have not been taxed on the Nov 1st vesting RSUs yet as they haven’t been released yet. They’re showing in a state of pending release if you look in your E*trade account. Stock plan -> Holdings Summary -> View By Status. You’ll see the currently blocked shares there too.
when the socket hasn't been released
Methinks I know what your job is...
ETrade will still show all of your RSU/vest information. For me, the RSUs have vested (meaning they are mine) but they have not been released and I have not paid taxes on them (at least ETrade reports $0 in taxes). Since RSU offset won't be reported until the next pay check, it is really hard to make specific claims right now.
I recommend you download all your pay stubs from Workday as soon as they're issued and pay very close attention to any changes in RSU offset for our 11/15 pay period. If there is an offset for unreleased RSUs, there are legal implications in both the tax and employment worlds.
Based on the RSU grant agreement (IANAL), I don't see an obvious breach of contract. I think the best we'll get out of this, assuming VMware is smart enough to not add the RSU offset when the socket hasn't been released, is withholding pay. That is a slap on the wrist pretty much anywhere in the U.S.
Good luck with that. It's not relevant at this point and you're just chasing ambulances looking for a payday.
Good luck finding a lawyer to put together a massive class action against a multi-billion dollar corporation for a few weeks of alleged missed profit.
Would you be asking for this if stock had crashed since 1 Nov, and continues to crash?
Because I don't think there is a case for it right now.
Why aren't you opening a lawsuit or talking with a lawyer? Are you hoping someone else is going to do it so you can watch without taking on risks yourself?
I can still see my nov stock as pending release in etrade. Check by holding- check by status in etrade
Jamie Dimon of JP Morgan hasn't sold stock in 18 years as a ceo. He's selling 20% now. The time to sell is already gone. No use crying now. People didn't sell their entire holdings and are stuck. Really sad.
My November 1 stock vestings don't even show anymore on the broker site. The stock is not in my account and the vesting list doesn't show them. They have gone missing. This is incredible and unheard of.
Im surprised there hasn't been lawsuits filed and scrutiny in the news by media outlets tbh
And don’t forget that if it doesn’t close they basically forced you to lose 20% of the value restricting your ability to trade
https://www.forbes.com/sites/brucebrumberg/2023/03/29/protect-your-stock-options-and-rsus-in-job-loss-3-key-actions/?sh=64044fa96bca
For those of you who have not, make sure you get copies of your employment contract, all the notices in workday of the stock grants and their vesting
Check this article for all the information on how to protect yourself with respect to the RSUs you’re entitled
It's complete BS