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The private company I work for issues stock "promises" on fancy certificates. Each certificate claims to be worth X shares for an estimated value of Y. Clearly
by justinmk 11y ago
The private company I work for issues stock "promises" on fancy certificates. Each certificate claims to be worth X shares for an estimated value of Y.
Clearly they are not stock options, nor RSUs nor anything fancy or official like that. They are just fancy certificates with unverifiable claims. Is there any legal or financial value to these things? Is there a name for these types of pseudo-stocks? Where in the linked article is this discussed?
- softawre 11y agoNot an expert, but have you asked your boss?
- mrmcd 11y ago"Is there a name for these types of pseudo-stocks?" Fraud?
- rpedela 11y agoYou need to talk to your own lawyer right away. That sounds extremely fishy to me.
- ryandrake 11y agoLOL. I have a coffee mug that says "World's Best Dad" at home (it looks very fancy). Does that mean I am really the best?
- stonemetal 11y agoAre they signed by both parties? It could be considered a contract, or at least proof of a verbal contract. It isn't talked about in the linked article because that is some weird made up thing that sounds kind of fishy.
- lmm 11y agoMy genuine stock certificates look like someone printed them out in MS Publisher, so don't assume the production values invalidate them. But as others have said, talk to your lawyer.
- reinhardt 11y agoMonopoly money stocks
- loumf 11y agoAs long as there's a contract behind it, it's just like any performance-based bonus. I've heard it called shadow-equity or phantom-equity. Note that if it ever paid out, you would pay income tax (not capital gains).
- zalzal 11y agoThe guide should cover more on this, yes. Added an issue to track. Please comment there if you have more details. https://github.com/jlevy/og-equity-compensation/issues/31 https://github.com/jlevy/og-equity-compensation/issues/31