Facebook Start Date
Supposed to join on August 20 but with the recent blow to the stock I am considering pushing out by 2 weeks so I start in September and my initial grant is calculated based on average of the stock in August Does that make sense ?? Can someone give me some more details on how would Facebook calculate my initial grant ?
It's hard enough to time a stock. It's crazy to try and tie your start date to it. Just go and it will average out over the years. What will you do if it keeps inching down? Keep moving out your start date? It may very well do that given the momentum behind that one day selloff.
20% is a lot
It was 150s just a couple of months ago. Perspective...
The window is from exactly start to end of month. So if you start ANYTIME in September you will get the average of the stock price for ALL of August. Not a 20-day rolling window. Likewise any start date in August gets you the average of July. Will leave up to you to decide if it makes sense to push the start date.
Amazing idea, go for it for sure. It should be the average of the month before you started so if you can start on Sep instead of Aug 20 you’ll be making a ton of money in this month by doing nothing.
Yup at 800k it goes almost 100k up or down !! The average for July comes out to be 201.67
Congrats on the offer. Did you get 800k stocks? May I ask for what level?
after 9/1. best time is just before 2/15, 5/15, 8/15, 11/15, since only those 4 times you can get rsu vested.
Thanks !! That’s another aspect I didn’t really think about. So from a vest point of view its the same if i join 8/20 or 9/4
Yes.
Avg stock price of the calendar month prior. Do postpone. You will need to have a good reason. Don’t say it is bc of the stock price. Some managers may rescind your offer straight up.
A descent manager will actually recommend you to postpone.
Postpone
I am planning to. Any advice on what I can tell the recruiting team and my manager ?
Family emergency? A health issue? Haha... something HR cannot question...
I also start the 20th - my letter says that the “RSU Start Date” isn’t until November 15th... with my first vest scheduled for February 2019. Reread your letter for specifics on how the RSU’s vest... since we start the 20th, we just miss the 08/15 vest schedule. Unless it’s different for each employee?
You need to read the 2012 Stock Grant plan from Facebook. Its a document called Understanding Equity and should be in the benefits package. The dollar value of the grant will be divided by the average closing stock price for the month prior to the month of your actually start date. To calculate the number yourself, you can look-up the historic stock price of FB (our ticker symbol) and determine an average closing price for the full month prior to the month of your start date (for example, if you start in April, look at all dollar value by the average closing price for the month of March and round up to the nearest whole share)
That sucks.... 201 avg. meh.. still free money. Too much risk in pushing the start date.... what if it comes souring back like in May?
Not how it works. The offer you accepted is already locked. Start date isn’t going to matter
You’re wrong. The offer would be in $ amount, not number of stocks. After starting, the $ amount is converted to number of stocks based on the average price of previous month. If the average is $180 instead of $200 then your number of stocks just went up by 11%.
What’d you decide OP?
Wouldn't you want to keep it at Aug 20 so you'd get more of them?
They do a 20 day window IIRC. You want to push it until the window starts after the drop.
I still don’t get it. FAANG thing :/