S
scott280
Guest
What is the name of your state? New York
I’m not sure if this is the right forum for this issue…
I work for a mid-size company that was recently bought by a large parent company. Employee stock options were offered on a vesting schedule, both at the time I originally started as part of the base compensation package and for the annual performance review.
As part of the transition to the large parent company, we had the option to elect a rollover of any unvested Employee stock options from our original company to the parent companies stock. Unvested options that weren’t rolled over were subject to a future default “Cashout” to the vesting schedule.
Before the details were announced, I had a vacation scheduled for the last week of July 2004. I made management aware of my vacation and they requested that I provide them with a contact address and phone numbers, which I did.
When I arrived at my vacation destination on July 23, 2004, a package of documents had arrived via FedEx from my company with a “Rollover Elections Form” for unvested options. In a memorandum that came with the form, it stated the Rollover Election form must be submitted (either by mail or fax) no later than July 30, 2004.
Desiring the rollover, I faxed the form back to them around 2:00 pm on July 30, 2004.
Upon returning to the office, there was an internal e-mail sent on Tuesday, July 27 about 7:30 pm that the Rollover Election Form must be received by noon on Friday, July 30. I contacted management as was informed that my Rollover Election was denied because they received the document a little after 2:00 pm.
Despite providing management with all requested vacation contact information (address and phone), I was never informed that the deadline had been moved up.
Is there anything that can be done?...
I’m not sure if this is the right forum for this issue…
I work for a mid-size company that was recently bought by a large parent company. Employee stock options were offered on a vesting schedule, both at the time I originally started as part of the base compensation package and for the annual performance review.
As part of the transition to the large parent company, we had the option to elect a rollover of any unvested Employee stock options from our original company to the parent companies stock. Unvested options that weren’t rolled over were subject to a future default “Cashout” to the vesting schedule.
Before the details were announced, I had a vacation scheduled for the last week of July 2004. I made management aware of my vacation and they requested that I provide them with a contact address and phone numbers, which I did.
When I arrived at my vacation destination on July 23, 2004, a package of documents had arrived via FedEx from my company with a “Rollover Elections Form” for unvested options. In a memorandum that came with the form, it stated the Rollover Election form must be submitted (either by mail or fax) no later than July 30, 2004.
Desiring the rollover, I faxed the form back to them around 2:00 pm on July 30, 2004.
Upon returning to the office, there was an internal e-mail sent on Tuesday, July 27 about 7:30 pm that the Rollover Election Form must be received by noon on Friday, July 30. I contacted management as was informed that my Rollover Election was denied because they received the document a little after 2:00 pm.
Despite providing management with all requested vacation contact information (address and phone), I was never informed that the deadline had been moved up.
Is there anything that can be done?...
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