Just been laid off and told I have to sell my old Avago Stock Options within 90 days. My ESPP and RSUs do not have these restrictions.
I doubled checked and my options are NSOs instead of ISO. Am I really still bound to the 90-day window?
6 replies (most recent on top)
Be honest ...hope this is not another false alarm !! Have not heard of any layoffs ..
If you quit, all your RSU will be forfeit immediately.
If it is laid off, depending on the terms.
Usually 60 days WARN period?
What happened?
Maybe after Qcom break down, the internal layoff has started already?
which group?
Sorry about the layoff - stay positive and in the long run things are going to work out for you! For the SO's you gotta read the fine print and make sure you understand it. I would call or visit Fidelity and/or whoever issued the original options and read through the fine print with them to make sure you understand it. Fidelity should be able to give a reliable answer or at least point you to someone who can. Also make sure you understand the tax consequences - I think with NSO's you may get taxed at ordinary income rates if you exercise the options and sell right away.
How many people were laid off?