The War Room
Question
Post
braintank
Politicker
8
Enterprise Account Executive
If you were employed <1 year it's unlikely that any vested.

If employed >1 year you typically have 30-90 days to exercise.
TennisandSales
Politicker
4
Enterprise Account Executive
check the paperwork.ย 

You should have details on this in your offer letter, or in a separate document.ย 

It should call this out specifically.ย 

Normally there is a vesting period. Which means, you may have to be employed for a certain time period before any of your equity means anything.ย 

Pretty common to have a minimum of a one year vesting period.ย 

Check the docs.ย 
jefe
Arsonist
3
Head of Sales
Do a careful review of your employment agreement.ย 

Has the company gone public? What's the likelihood of it actually being worth something?
CatMom
Politicker
2
Account Executive
Yeah I donโ€™t know that Iโ€™d even want to exercise them if theyโ€™re laying ppl off. Unless itโ€™s a big company. But if itโ€™s a small start up Iโ€™d just walk away
LordOfWar
Tycoon
2
Blow it up
As others have said check your paperwork but it also might be worthwhile to reach out to a free legal agency.ย 
LoneMaverick
Opinionated
2
Strategic Account Leader
As others have said it depends on how long you were employed.

Typically options and RSUs have a 4 year beating schedule with a one year cliff. Meaning that after 1 year you have earned 25% of your options with the remaining 75% vesting monthly over the next 3 years.

Also, once you leave a company you have a limited time to exercise/sell your vested shares. Usually 90 days.
JDialz
Politicker
0
COO
If theyโ€™re vested they are yours. Delivered to your custodian in your name.

Thatโ€™s when somebody like me comes in to de-risk your assets while maintaining an aggressive tack, based on your goals and time horizon of course.
saaskicker
Politicker
2
Sr. AE
if your company is laying people off it's hard to imagine you want to buy that equity if it's vested...ย 
LordBusiness
Politicker
1
Chief Revenue Officer
Check your paperwork, but given tenure Iโ€™d be willing to bet the equity doesnโ€™t leave with you
therealmilsch
1
VP Sales & Deal Flow
Everyone mostly covered it.ย 

1. Check your paperwork. It probably won't be in your employment contract, but in a separate equity agreement. It will provide detail on how/when equity vests as well as scenarios if you leave on your own will, if you are terminated, or if there are layoffs.ย 

2. In that agreement, it will state your share/equity allocation. It will also state a Vesting Schedule. Many times its 25% immediately, after the first 6 months, or after a year. Then 15%/year for the next 5 years.ย 

3. You WILL have to purchase any vested equity, equity isn't handed to you. So, whatever percentage of shares are vested, you will have to pay for the original value of those shares, as well as the tax liability of the profit between your exercise price and the current valuation of the company.ย 

4. As @saaskickerย stated - it might not be the best idea to buy shares of a company going through layoffs.ย 

Regardless - you should have all the information available to you. Best of luck in making the correct decision for you and best of luck looking for a new role.ย 
FinanceEngineer
Politicker
0
Channel Sales Director
Should be able to execute the vested amount within 30 or 90 days. You will have it writing in the equity contract that you signed.
AnchorPoint
Politicker
0
Business Coach
There should be a vesting clause in your agreement.
WholesomeGuy95
0
Area Sales Manager
Lot of good comments here- there is also some great equity explanation content on YT. I won't plug any companies here but its worth listening to a 15 min explanation of the basics as you'll learn stuff that will help when you negotiate your next job.ย 
CuriousFox
WR Officer
0
Senior Account Executive
I'm sorry to hear this man. I hope you bounce back soon.
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