Note sent to all JG2 and above employees today stating now they are changing the share awards so less people get them (because you are already fairly compensated below JG2 is their reason but they don't think above JG2 is well compensated?) And you will now only receive the value of the awards and any accrued dividends. Just another way to cut people's pay.
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I left a lot of PSP on the table when I quit. Some things are worthless.
Stealth pay cut. Get ready for 0% merit increase. 🐍
I have been awarded PSP each year at Shell. As a relative newcomer, I am not vested and probably will never vest due to the reorg in my LOB. PSP awards are a trap.
@1afm+1tj3jIeQ- JG 3 here, and have received a fair bit of PSP over the course of my 17 year career. It’s not what is cracked up to be. First, Shell stock su-ks compared to American peers. Second, say I was awarded 400 shares. After waiting 3 years to vest- based on company performance (which is always skewed downward)- you would only get 350 shares- minus taxes taken out. I would much prefer cash vs PSP. An SRA is even better. I would ALWAYS cash out and diversify. Ask GE, Kodak, or other company employees how they feel about company stock awards. Heck, I would rather have that cash bonus matched in the 401K
Fantastic. JG4 here with 10+ years and have never gotten PSP. Managers have always claimed it’s “very competitive” for JG4/5, but not sure I believe that.
50% JG2 eligibility (was 80%). 25% JG3 eligibility (was 33%).
No change to any previously awarded PSP’s
Has anyone received an SRA lately?
50% of JG2 is the new target, down from 80%.
JG3 percentage might be reduced as well, and JG 4 and below is possible but rare (no change).
Going forward, for everyone receiving them, the number of shares will be calculated as a percentage of salary. The number of shares will be lower--that was in an email a few months ago.
So are you also saying if you currently have shares from a PSP that they’re cashing you out or that future state you will just receive a cash payout of current stock price and the implied dividends over that 3 year span??
So is no one below JG2 eligible for PSP? I also heard % of JG2s eligible has decreased.