Separation Program

[timao]

Jurisdiction

Missouri

I recently have been laid off from my company after 11 years. I will have to sign the Separation Letter and return to the company by Oct 17, 2016, but I have an issue regarding forfeit stock options that have been outstanding for less than one year as of my Employment Termination (Oct 28th, 2016). Here at xyz Company, at the management level, we are awarded stock options once we get a promotion. On Sep/2015 I was promoted to a different role, but because the HRs lack of efficiency, I only got the stock options granted in Jan/2016. As my termination date set as Oct 28th I will have to forfeit those options granted on Jan/2016. I've been in contact with HR since Aug 30th with weekly updates requests, but the only answer I get from them is "still waiting on legal and severance department". As my signing date approaches (Oct 17th), I don't know what else to do. Please advice!

 

[army judge]

As my signing date approaches (Oct 17th), I don't know what else to do. Please advice!

You can sign, or refuse to sign.

You, alone, must make that choice.

 

[adjusterjack]

Agree.

This is an internal thing with your company. You will either get the stock options or you won't.

 

[timao]

You can sign, or refuse to sign.

You, alone, must make that choice.

That didn't help much! I'm not talking about choices. I'm talking about my rights.

 

[timao]

Agree.

This is an internal thing with your company. You will either get the stock options or you won't.

I understand that, but I was expecting a better answer or support to my rights. They made the mistake, why should I be penalized?

 

[adjusterjack]

Unfortunately, you might not have any "rights."

If the employer chose to award stock options to employees he can just as easily choose not to.

People are penalized by their employer's mistakes all the time. Sometimes it's even by design.

Do you have an employment contract that specifies your stock option awards?

If you do, then take it to an employment attorney for review.

If not, then you might want to read the following article and see if your employer may have a contractual obligation you can enforce:

The Basics Of Employment Contracts

You will still need a lawyer if there is one.

 

[army judge]

That didn't help much! I'm not talking about choices. I'm talking about my rights.

Your rights are between you and government.
Those rights don't apply between private parties.
Hire a lawyer, if you believe otherwise.

 

[cbg]

There is not a law that grants you "rights" to stock options, particularly not after less than a year. This is a contractual matter only - it is not a matter of rights. Consult local counsel.