Edit: In case some folks aren't aware, Cruise is essentially back to being a private company now after recent Softbank investment. For new hire offers, they are giving out Cruise equity instead of GM equity. Or this is what was explained to me anyway. Some of my thoughts and assumptions: ā¢ I'll owe tax on vested RSUs (shares) even though I can't sell the shares, so I'll pay ~$45K out of pocket when they vest. Need to confirm this with Cruise. ā¢ I won't be able to sell the shares until Cruise goes public. However, I'll ask if they'll allow me to participate in secondary markets (i.e. sell my private shares). ā¢ Cruise won't go public until the ride service is widely deployed; that's probably 5+ years away. ā¢ Cruise may stay private indefinitely even if it does establish the ride service (see: Uber). ā¢ My share value may drop due to dilution or whatever. ā¢ I don't know the terms if I leave the company before it goes public. Perhaps I lose the shares (the vested RSUs) even though I've already paid tax on them? I'll ask. I'm super-positive about the company and underlying tech, but given all this... I'm inclined to put the cash value of the RSU at zero or maybe even negative! TC 375, 15 YoE
With RSUs I think they typically withhold some units to take care of the tax, same as your salary.
Policy depends on company I believe.
Is this true even for those who have already joined?
are you working on sdc at baidu too?
You shouldnāt owe taxes on vested RSUs until there is a liquidity event, most companies defer settling of RSUs if they arenāt public.
They will only be worth something if they beat out waymo and Uber or get acquired by Lyft or another automaker. I would value them at 10% if you are comparing with a public company
In the same situation. plz check DM.
Health & Wellness
14h
5198
Why are women naked in gym?
Layoffs
Yesterday
38586
Google CFO confirms 'large-scale' layoffs (Apr 17)
Tech Industry
20h
2598
Go woke, go broke: Google fires 28 employees involved in pro-Hamas protest
2024 Tax
13h
2248
Bidenās new tax proposal is wild
Tech Industry
12h
352
DoorDash vs Walmart
Do you mean PSUs? Because RSUs function as they normally do.