How does the stock refresh work at Google and amazon?
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Google gives you new 4 year grant every year
If it's lower, you get some new stock to fill that gap. If it's higher, you get nothing. The stock that you do get assumes some stock growth, and you only get 50% of whatever the outcome would be in year +3. You get nothing (extra) for current year, unless you were promoted, and even then it might be just base increase. The initial grant is typically backloaded but overall the actual money you do get is going to be similar to your year 1 comp or better.
GOOG: every year, your target comp is determined by your perf rating. The stock portion of that comp is then divided over the next four years (including the current one). This accumulates over time, and accumulates with your initial grant, so typically somewhere between years 2 and 4 you will have a cliff, depending on how your initial grant worked.
If the stock goes down you don't get anything to compensate and your comp may go down, but if it goes up you still are getting new refreshers, so hey, it's a gamble.