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Exelixis, Inc. Message Board

  • residentalert residentalert Dec 16, 2012 8:06 AM Flag

    Something to think about regarding the recent 8k

    "What happens to my restricted stock units if I leave my employer prior to my vesting date?
    If you leave your employer prior to the date your restricted stock units vest, typically you forfeit your units."
    --After a TO many top executive, as well as many others, will be asked to resign or will be laid-off.
    -Exel gives their employees 2 options: 401K OR Exel stock options. The employess already have the choice to buy and sell "real-time". Each Q the money put into the EXEL stock purchase can be sold immediately for a minimum of 10%. So, why convert the 401K "units" when the employee's already are given the choice? (see above) ;)
    I was wondering why the top exec's received cash rather than options. Weren't you?

    Sentiment: Strong Buy

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    • "In a Corporate Merger, What Happens to Your 401k
      By Clifton Linton
      Senior Writer, mPower

      If your employer is sold, what will happen to your retirement plan?

      Corporate mergers and acquisitions can be nerve-wracking. It seems like there are always a lot of closed-door meetings you're not invited to, where the big decisions are being made. This lack of knowledge feeds anxiety as workers fret about layoffs or, even if they retain their jobs, how benefits including the 401k plan may change. The reality is that there are few guarantees...."
      "...If you're waiting to vest, your vesting schedule may change due to the merger. You should contact your benefits department to find out what will happen in your situation."

      Sentiment: Strong Buy

    • Please forgive me for not exactly understanding what you mean or what you are trying to insinuate, but is your description a possible clue for "pre-takeover" preparation?

      Sentiment: Strong Buy

      • 1 Reply to jamesvincent888
      • Yes, possibly. The "unit" conversion in question are part of the 401K. The question to ask is: Is it normal, at all, for any company to do this for a 401K plan? Especially, when they ALREADY offer a "real-time" offer (unless, it was discontinued)?
        I speculate that: at the date of conversion all options will become vested? Therefore all executives will be given due compensation for their efforts prior to departure...???

        Sentiment: Strong Buy

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