What is the name of your state? CA
Hi, I used to work in France for 6 years for a British Company: I got some options during this period.
Last year, I got transferred to the USA and was able to keep my stock option plan:
In Jan this year, I got fired (employment at will) without notice. At the time, the trading window of my company was closed on the london stock exchange and I couldn't sell my stocks. When the trading window reopenned, my employer told me that I could not sell my options because in the terms and agreements, it is stated that my options are lost at termination of my employment.
At the time they granted me these options, I had 3 months notice (according to the French law) but in the US, when they fired me, the trading window was closed and had it been open, the market was closed. This would have prevented me from selling the options that day anyway.
Is is legal not to give the employee a chance to sell the stocks as soon as the termination happens?
The COO of the company also told me that since I said I wanted to sue the company for wrongful termination and discrimination, he was not willing to ask a favor to the board of directors but if I refused to sue the company, he would be willing to see what he could do to help me. I refused his blackmail but we are talking about a 6 figure number.
Do you have any ideas what could be done and if it is legal to treat me like this?
Thanks very much
Vanillasf
Hi, I used to work in France for 6 years for a British Company: I got some options during this period.
Last year, I got transferred to the USA and was able to keep my stock option plan:
In Jan this year, I got fired (employment at will) without notice. At the time, the trading window of my company was closed on the london stock exchange and I couldn't sell my stocks. When the trading window reopenned, my employer told me that I could not sell my options because in the terms and agreements, it is stated that my options are lost at termination of my employment.
At the time they granted me these options, I had 3 months notice (according to the French law) but in the US, when they fired me, the trading window was closed and had it been open, the market was closed. This would have prevented me from selling the options that day anyway.
Is is legal not to give the employee a chance to sell the stocks as soon as the termination happens?
The COO of the company also told me that since I said I wanted to sue the company for wrongful termination and discrimination, he was not willing to ask a favor to the board of directors but if I refused to sue the company, he would be willing to see what he could do to help me. I refused his blackmail but we are talking about a 6 figure number.
Do you have any ideas what could be done and if it is legal to treat me like this?
Thanks very much
Vanillasf