I see all these crazy ass high TCs and they all include RSUs/stock awards that can obviously appreciate over time. In general do these have restrictions? So for example is there a vesting schedule and a distribution schedule? Simple example. You're awarded $100k in RSUs that vest over 3 years so you get $33k each year and you lose $66k if you leave the first year. Even if you stay all 3 years and you get $100k vested are there restrictions to selling/transferring? This is fascinating to me because unlike places I've worked RSUs/stock rewards seem to be a HUGE part of TC.
RSUs vest at regular intervals (monthly/quarterly/yearly) depending on grant and company. Once it is vested, you can keep or sell. Some companies have trading windows which you need to respect. If you leave the company, unvested RSUs are lost.
I know how how RSUs work but was curious what the normal schedule is at FAANG. So at Google what's the normal vesting schedule? 3 years with 33% vesting each of the years?
Depends on grant size. Monthly for larger grants, quarterly for medium.
Simply read this - https://www.investopedia.com/terms/r/restricted-stock-unit.asp
No restrictions for the vast majority of people. RSU vested is just a stock. After vesting you own stock. Then you can sell the stock at any time for cash. However, the reason it can be great for certain companies is the value of the RSU can appreciate while waiting for it to vest. Example: I had 80 RSU at amazon, valued initially at 750 each. Two years later they were at 1800 each, but the vesting schedule remained constant. So in effect my TC took a giant jump. 60k/4yrs turned into 140k/2yrs (amazon vesting schedule is backloaded so you get 80% of the stocks the final two years).
Only restriction is company trading window
So the moment you get the RSUs you're fully vested? That seems bonkers. One of the main reasons to usually awarding stock is retention
Well, you retain people till the vest window...