My friend joined figma at L6 equivalent one month ago and had 800K RSU which is going to vest FULLY now due to the acquisition. Luckiest man alive and congrats to all figma millionaires
Depends on the deal. Could be very little. Look at zoox.
What would that evaluate to ?
About tree fiddy
Got damn loch Ness monsta
Good acquisition by Adobe actually makes sense for their market capture
The market hates it though
20B is a lot for a company with market cap of 150B but figma was definitely hurting them. In a way, Adobe stopped them for their monopoly.
That doesn’t make any sense, you would still need to satisfy time based condition for shares to vest. So he wouldn’t just get all the shares without working there for 4 years
Some acquisitions remove the time based condition. I don’t know whether Figma case has that but it definitely can happen
Instant vesting during an acquisition isn't unheard of .. when dell acquired emc I'm pretty sure my 4 year lti all vested immediately
Bought at 0.20 per share. Jk ha ha
Was this a profitable move for Adobe? 20B is a lot of money...
@uhhhhi are you just assuming it’ll vest fully?
“Approximately 6 million additional restricted stock units will be granted to Figma’s CEO and employees that will vest over four years subsequent to closing” Yo how much more RSUs are people getting
Lol is this google’s hiring bar
Immediate RSU vesting upon acquisition isn't a standard clause, so either Figma added that clause or your friend is mistaken.
Even if it is, the board normally has language that lets them change it right before acquisition. Happened to us 😒
My company got bought by Morgan stanley and everything vested. It's not guaranteed but it's also not uncommon.