Foursquare has been around a long time, have they allowed RSUs to expire?
What does this mean?
This means our days of sacrificing are a total waste now and we have given our precious years away to another soulless company
When the RSU vests you get shares of the company. There is nothing to expire. Options might expire but not rsu
I’ve been told by older employees that their RSU grants had a seven year limit and they’ve lost their stock. It’s worthless anyway, so doesn’t matter.
That makes no sense. Like, that is not how RSUs work. First of all they are not "grants," Options do have a concept of "grants." I wonder if those employees had Options instead of RSUs; there are a number of big legal differences between them. An Option Grant is a contract (with some terms) that allow the user the Option to buy stock at some price. Usually you have some number of years from the time the grant is issued to buy the shares or the option expires. An RSU contract defines a schedule of time in which a number of shares are transferred to one party of the contract. For new hires now, 25% percent of the RSU shares are vested at the end of your first year. That means Foursquare transfers ownership of those shares to you. You legally own those shares and they are in an account with your name. There is nothing to expire. With Options you have to take action to get the shares; with RSUs the shares become yours legally without any action.
I'm a former Fsq employee. The RSUs expire at 7 years and most early employees have already had their RSUs expire, or they expire in 2023.
are there any current employees who have had their RSUs expire? how is morale? did the company do anything to make it up to them?
I’ve been told that existing/remaining employees were granted a refresher but they had to earn it all back over a one year period.
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thanks, what has that been like? employees morale hit? what did exec team say?
Not sure what its been like, I’m fairly new and execs have said nothing, they have locked down all communication. Unclear about morale, feel like everyone is new as of two years ago?