Does my company have to vest stock options for those who have been laid off?
January 16, 2004
Subject: Stock Options
Date: Mon, 29 Dec 2003
Hello Mr. Gray,
My husband is being laid off from his company and has not fully vested his stock options. Since his company is letting him go, do they have to allow him to purchase all of his options?
Thank you in advance for your time.
Date: Wed, 07 Jan 2004
No. Vesting is based on the period worked for the company. Your husband should have received a copy of the stock option agreement. Be sure to read it to understand its terms. You might want to consult with an employment law attorney to be sure your husband understands his rights.