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  1. #1
    JBF2391 is offline Junior Member
    Join Date
    Mar 2005
    Posts
    1

    Options and 401 K vesting and resignation

    What is the name of your state? California

    Situation: I have a situation where I am planning to turn in my resignation April 11th to be effective April 22. I am delaying the annoucement because I become fully vested in my 401k on April 20th. In the policy manual my employer request that I am giving 2 weeks notice.

    Question: Can they just ask me to leave and not accept my two weeks, there by cutting my vesting peroid short?


    Situation: I currently have stock options which are vested but they are in the black out peroid for trading. The black out peroid will extend beyond my termination date. I tried to execute them before the black out peroid but there was an error in my account which prohibited me from doing this. About 1 year ago I received a notification from my company that the account was set up correctly. The option agreement states that the options expire upon termination of employment. I have tried to execute the options and just hold the stock but the administrator is unwilling to allow me to do so.

    Questions: I also have ~6 weeks of vacation, can I use the vacation to extend my employment through the blackout peroid? Do I have a legal case to collect my option proceeds?

    Thanks for the help.

    JB
    Last edited by JBF2391; 03-29-2005 at 12:58 PM.
  2. #2
    cbg
    cbg is offline Senior Member
    Join Date
    Nov 2001
    Location
    Massachusetts
    Posts
    34,261
    Question: Can they just ask me to leave and not accept my two weeks, there by cutting my vesting peroid short?

    Yes, they can. If you want to be certain of having your 401k vested before your resignation, delay resigning until the vesting is complete.

    Questions: I also have ~6 weeks of vacation, can I use the vacation to extend my employment through the blackout peroid?

    If your employer agrees to it, yes. But they have no legal obligation to allow it.

    Do I have a legal case to collect my option proceeds?

    That depends entirely upon the terms of the option agreement.

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