4 ms·

Couldn’t read it there but archive.org has it: https://web.archive.org/web/20210205073421/https://www.latimes.com/business/la-xpm-2012-aug-21-la-fi-tn-apple-sue

Couldn’t read it there but archive.org has it: https://web.archive.org/web/20210205073421/https://www.latimes.com/business/la-xpm-2012-aug-21-la-fi-tn-apple-sued-ex-employee-20120821-story.html https://web.archive.org/web/20210205073421/https://www.latim...

sgt 6y ago
What was the outcome, was he compensated in the end?
- rincebrain 6y ago
  A judge refused Apple's request for summary dismissal[1], but then news coverage about it just stops. My unjustified suspicion, since there's no evidence of it being resolved afterward, is that an out-of-court settlement was reached before it went to trial, and consequently, no press coverage resulted. I suppose, if this were true, it would qualify as a win-win - Apple doesn't have court precedent of them firing people unjustifiedly, he ends up with a bunch of the compensation he primarily claims Apple was denying him by firing him. The people who lose are anyone else who gets dubiously fired by Apple and don't have the resources to sue over it. [1] - https://www.bizjournals.com/sanjose/news/2014/05/21/man-behind-apples-spectacularproduct-launch-events.html?page=all https://www.bizjournals.com/sanjose/news/2014/05/21/man-behi...
  - Cthulhu_ 6y ago
    I mean the article mentioned he had "restricted stock" (I guess it's like options?); I don't know how many he was entitled to, but the stock price of Apple has gone through a split and has become 40x worth as much today.
    - vlovich123 6y ago
      RSU. It’s the kind of stock grants that are regularly handed out by tech companies. They’re not options. https://www.investopedia.com/terms/r/restricted-stock-unit.asp https://www.investopedia.com/terms/r/restricted-stock-unit.a...
    - gowld 6y ago
      The value of a stock grant is not determined by future growth. You can buy stock on the open market on the same day an employee vests, and all else equal non-employees should by MORE stock than employees, due to diversification concerns.
      - barrkel 6y ago
        This depends on whether your RSUs are measured in $ or units.
      - marcinzm 6y ago
        RSU grants are afaik usually on a per unit basis based on the price when you start. So if the current stock price is $20/share and you get $20k worth of RSUs then that means you get 1k shares. If the value per share goes up to $100 then your RSUs are now worth $100k. This is why some tech company employees have massive stock compensations, the stock has gone up a lot since their initial offer.
      - s1artibartfast 6y ago
        Im sure there are different ways of doing it, but this is not my experience. In my experience, you get X RSU stocks, and or Y dollars worth of stock. It is then locked up for 3-4 years so if you took stock it may have increased in value.

sgt 6y ago

What was the outcome, was he compensated in the end?

rincebrain 6y ago
A judge refused Apple's request for summary dismissal[1], but then news coverage about it just stops. My unjustified suspicion, since there's no evidence of it being resolved afterward, is that an out-of-court settlement was reached before it went to trial, and consequently, no press coverage resulted. I suppose, if this were true, it would qualify as a win-win - Apple doesn't have court precedent of them firing people unjustifiedly, he ends up with a bunch of the compensation he primarily claims Apple was denying him by firing him. The people who lose are anyone else who gets dubiously fired by Apple and don't have the resources to sue over it. [1] - https://www.bizjournals.com/sanjose/news/2014/05/21/man-behind-apples-spectacularproduct-launch-events.html?page=all https://www.bizjournals.com/sanjose/news/2014/05/21/man-behi...
- Cthulhu_ 6y ago
  I mean the article mentioned he had "restricted stock" (I guess it's like options?); I don't know how many he was entitled to, but the stock price of Apple has gone through a split and has become 40x worth as much today.
  - vlovich123 6y ago
    RSU. It’s the kind of stock grants that are regularly handed out by tech companies. They’re not options. https://www.investopedia.com/terms/r/restricted-stock-unit.asp https://www.investopedia.com/terms/r/restricted-stock-unit.a...
  - gowld 6y ago
    The value of a stock grant is not determined by future growth. You can buy stock on the open market on the same day an employee vests, and all else equal non-employees should by MORE stock than employees, due to diversification concerns.
    - barrkel 6y ago
      This depends on whether your RSUs are measured in $ or units.
    - marcinzm 6y ago
      RSU grants are afaik usually on a per unit basis based on the price when you start. So if the current stock price is $20/share and you get $20k worth of RSUs then that means you get 1k shares. If the value per share goes up to $100 then your RSUs are now worth $100k. This is why some tech company employees have massive stock compensations, the stock has gone up a lot since their initial offer.
    - s1artibartfast 6y ago
      Im sure there are different ways of doing it, but this is not my experience. In my experience, you get X RSU stocks, and or Y dollars worth of stock. It is then locked up for 3-4 years so if you took stock it may have increased in value.