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> Now employees are fearing that layoffs will begin before November 1st, when a significant percentage of them are set to receive stock grants paid out in cash
by jrochkind1 4y ago
> Now employees are fearing that layoffs will begin before November 1st, when a significant percentage of them are set to receive stock grants paid out in cash at $54.20 a share. Shortly after this story was published, Musk tweeted “This is false” in response to a tweet featuring another story claiming that the layoffs would happen before that date.
Side question, but real question -- how do stock grants in a non-publicly traded company work, who can you sell them to how to turn them into monetary value?
- snoopy_telex 4y agoMy understanding is the outstanding grants are guaranteed at the buyout price and are converted directly to cash. New grants/options/whatever are at the whims of the company.
- deleted 4y ago[deleted]
- twelve40 4y agoA related question I have is, what happened to everyone who held stock at the moment it was taken private? For large shareholders, ok, you can make a deal with them. But if I'm an employee or even just a random guy who keeps, say, $30k or $300k worth of Twitter stock, what happened to those people and their stock? Was it forcefully exchanged for cash in their Robinhood or Fidelity accounts? How does that even work?
- boruto 4y agoI know Bloomberg (private) does not give stocks. Only base + bonus.