3 ms·

How do you "give up" unvested stock?

• vkou 10y ago
  Get fired or quit before it vests. (Conditional on your contract.) Edit: If you are a C-level executive, your contract may stipulate that you get unvested stock, even if you're fired. It's possible that John Strumpf chose not to exercise any such clause, but I strongly doubt it. The man is a psychopath.
  • carsongross 10y ago
    Right, but that seems like it's being extremely deceptive: when you quit or get fired you stop vesting. It isn't clawed back in any meaningful way. When you or I leave a startup, we don't talk about our unvested options getting "clawed back".
    • tedmiston 10y ago
      > when you quit or get fired you stop vesting Generally true, but sometimes there is vesting acceleration upon termination [1]. (I have no idea how much it's used in the banking world; just that it exists.) [1]: http://venturehacks.com/articles/acceleration-termination http://venturehacks.com/articles/acceleration-termination