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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Employment Law
Satisfied Customers: 118722
Experience:  20+ Years of Employment Law Experience
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I was just let go from a company- on March 16, there was

Customer Question

I was just let go from a company- on March 16, there was going to be a Restricted Stock and options stock award vesting on May 2016, this was taken off the company broker account. I was rated exceeds for the work done in the last 3 years, and was given a bonus for the 2105 year ( small, but still a bonus), which indicates that 2015 was a still a good year for my work . I have contacted the Executive manager for the company ( via the ombudsman) and he denied the 2016 RSA award - is there any recourse to get this 2016 RSA award, that was only 2 months away from happening.
Submitted: 1 year ago.
Category: Employment Law
Expert:  Law Educator, Esq. replied 1 year ago.
Thank you for your question. I look forward to working with you to provide you the information you are seeking for educational purposes only.
Unfortunately, these bonus awards are based on the guidelines set by the employer and for these awards the employer can require the employee be actually employed as of the date the shares are awarded. Even though you are 2 months away, you are not going to be employed on the date they are awarded and that is a perfectly legal requirement for the employer to impose on the award. So, legally there is no recourse when the employer does this I am afraid as you would only be entitled if you were employed the date the shares were awarded.