Hey folks from Twilio could answer this. Lets assume the vesting schedule is as below: 25% after 1 year completion remaining 75% divided equally every quarter for next 3 years. I have a doubt regarding the stock unit calculation. In all the orgs i have worked in past who provide RSUs, they calculate the stock units as per the stock rate during the joining date. Accordingly as per the schedule (as shown above) they calculate and lock the stock units for each vesting date in future (4 years). However the wording at Twilio offer shows that they calculate the stock unit quantity during each vesting date (some average of one month). Side effect of this is, one won’t be able to make advantage of the increasing stock price in future. Any Twilio employee could confirm this please? #twilio
Unless something has changed, I think you’re misreading how the grant works. Your $ grant becomes a number of RSU shares once approved based on the 30 day average. That then gets divided into the yearly / quarterly future vest share amounts. Nothing else.
Yes I think op u are misreading how rsu grant work in twilio. The $ is converted to rsu units based on the average closing price during the month of joining. This is how it works for refreshers and my initial grant. Not sure anything changed recently
Refreshers are performance based or level?
Confirming the same as the 2 comments above -- your strike price is decided as the average price over 30 days right after you join, and that's it. Price is locked for the next 4 years and vests as per schedule.
What happens if the stock price falls at the time of vesting ? Do you get stock refreshers to compensate for the loss ?
There's no formal agreement and no obligation to do that. It might have been done in the past, and it might be done again if required, but it really depends on what management decides at that point in time.
Grant date v vest date. That makes ton more sense now.
Talked to recruiter she also said the same thing as mentioned by few of the twilion above. Calculating units at the time of joining. Just that offer content is appearing to be saying something different. Not sure if I can post the extracts of the offer letter here.
Thanks guys for confirming.
This is what I got to know from a recruiter of twilio. Sometime back they called me for job in India. I Didn't accepted offer though. No gain no loss as per market. Exact amount as promised.
Then they should call it a salary.
Even i was surprised to hear. Someone from twilio can confirm.