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I'm surprised there is not one mention of the word "vesting" in the entire article. Systrom left six years after the acquisition (likely full vested) and shortl
by chatmasta 8y ago
I'm surprised there is not one mention of the word "vesting" in the entire article. Systrom left six years after the acquisition (likely full vested) and shortly after returning from paternity leave.
- TheDom 8y agoA 6 year vesting schedule would be highly unusual. AFAIK it’s usually 2 (or maybe up to 4) years after an acquisition. Therefore I don’t think that this was a factor in his decision.
- trevyn 8y agoThings are different at that high level. Not always “vesting” technically, but various retention bonus payout milestones.
- weaklearner 8y agoI don't have a citation here but I think facebook tried to create a slow vesting schedule for these aquihires so they would have golden shackles
- the_watcher 8y agoIs this just your assumption? The WhatsApp acquisition was pretty famously on a 4 year vest [0], not sure why IG would have been different. [0] https://www.businessinsider.com/whatsapp-founder-jan-koum-rest-and-vest-for-450-million-facebook-stock-2018-8 https://www.businessinsider.com/whatsapp-founder-jan-koum-re...
- weaklearner 8y agommm I was pretty sure I read it. I cannot find the reference so I think you are right. I'm going to edit my comment.
- kerng 8y agoIt's also not uncommon for companies to drop that and have majority vest quicker to get rid of founders faster (provide a good encouraging deal) - especially if they dont play ball.