What is the name of your state? New York
What is the name of your state? New York
I previously worked for a very small company that when I was hired, I was given a certian amount of stock options fully vested on my date of hire. My co worker was hired a few months before me and was given options also. After a year of working there, the company went through some orginization changes and the amount of stock there was in the company went up a large amount (i guess like a split). None of us knew this happened. Then, I come to find out now, that when the stock increase happened, they called in a few key employees and increased their stock options by a HUGE amount because of the change. But, some of us were not given a similar increase, thus devaluing our stock amount by alot. The whole point of this is the company was just sold, and my co worker now will receive a SUBSTANTIAL amount more in the sale of the company.
My question is, is it legal to increase to total number of stock in a company but still keep the option holders at the same amount? Why would they have done it for some, but left others out of the it.
Thanks in advance
cas
What is the name of your state? New York
I previously worked for a very small company that when I was hired, I was given a certian amount of stock options fully vested on my date of hire. My co worker was hired a few months before me and was given options also. After a year of working there, the company went through some orginization changes and the amount of stock there was in the company went up a large amount (i guess like a split). None of us knew this happened. Then, I come to find out now, that when the stock increase happened, they called in a few key employees and increased their stock options by a HUGE amount because of the change. But, some of us were not given a similar increase, thus devaluing our stock amount by alot. The whole point of this is the company was just sold, and my co worker now will receive a SUBSTANTIAL amount more in the sale of the company.
My question is, is it legal to increase to total number of stock in a company but still keep the option holders at the same amount? Why would they have done it for some, but left others out of the it.
Thanks in advance
cas