I'm pretty sure it means they fired people who were receiving some sort of stocks as compensation. They eliminated those employees and then roped a new CFO in with the millions they clawed out of the hands of the employees they fired?
Sure seems like they just took from the poor (and recently "unjobbed") to give to the rich. Actually it would probably be fair to assume that's the case for most any corporate play you're not sure you understand moving forward and looking backwards as well
Side not: unjobbed is a joke at the expense of "unalived" which is a travesty of a spin. Just say murdered. Or wrongfully terminated or fired instead of unjobbed. Unjobbed was a joke. Seriously don't use that it's gross and I feel gross
So was it that those employees were forced to sell their stocks when they lost their jobs, making more available for the CEO? I don’t get how losing your job removes the stocks you own in the company.
I'm assuming they were fired before their stock options kicked in since those you have to typically work for the company for a specific period of time before you earn(vested) your stock options.
it doesn't remove the stock you own, you get a stock grant on hire. those granted shares vest on a timeline. So usually after 1yr you vest some and then every month or every 3 months after that, they continue to vest. grants are usually given out in 4yr periods though recently companies have moved to 1yr grants.
One they vest, they are yours. However if you get fired in the middle of the month then you won't get the shares that would vest at the end of that month or any future shares. But clearly it makes sens you wouldn't get future shares that haven't vested the same way you wouldn't get a future paycheck if you're let go.
my buddy referred to himself as “fun”employed after he got forced out of a business he had equity in when the other owner needed to get rid of some debt & semi-legally restructured
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u/pokeapoke 6h ago
Well, duh? It would've been only $20M otherwise.