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I noticed people keep mentioning that Snapchat does not stack grants anymore? What does that mean?
Let’s say you get a $200K 4-year vesting RSU grant on joining a company. After 1 year, you get another $100K 4-year grant (sometimes called “refresh” or “performance”) grant. That means on year 1 you had $50K from RSUs. But on years 2,3,4 of your tenure you’re vesting from both grants and getting $75K from RSUs — stacking grants. Continuing that example, let’s say you never receive any further grants, then as you enter year 5 of your tenure you’ll have a “cliff” — your initial 4-year grant has fully vested and you’re no longer getting any comp from it — in year 5 you would be only getting $25K from the last year of your second grant.
^ this, if you get refreshers every year, your TC at the last year of the initial vest can be high as it has the initial vest and multiple stacks from previous years. At Snap, after the first year you will get a refresher that is only vested in year 4. After the 2nd year you will get a refresher that vest in year 5 and so on. Thus, their vesting periods don’t overlap
What happens after 4 years? They keep giving you RSUs every year?
Hmm did you even read my post? The refresher you are granted after the 1st year will vest on 4th year (and 4th year only, it won’t vest on 2nd or 3rd year). The refresher you are granted after the 2nd year will vest on 5th year and so on. So yes, every year you have RSU to vest but the RSU was granted 3 years ago so it has a good potential of being 2x or 3x at the vesting time
They aren't different. It's how many grants (Grants of RSU) you can have at any one time. I don't believe Snapchat has a different meaning.