Obviously most of the employees who oppose this deal will refuse the grants.
Really? Most will stay, take the money and look for jobs elsewhere
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Ask HN: What happens with stock grants for Twitter employees?
11–20 of 81 posts
Re: Ask HN: What happens with stock grants for Twitter employees?
#12Re: Ask HN: What happens with stock grants for Twitter employees?
#13Depends on the buyer and nuanced details of how the awards actually work at Twitter. For existing shares vested those will most likely just be paid out in cash into a brokerage account for any shares still held. If the acquisition is a traditional pure cash transaction employees would cease to be shareholders. On things not vested it’s typically up to the buyer. Obviously some incentive to not just annoy everyone to…
> and won’t be too fussed if others just get pissed and leave
I remember when it was so important that financial guys still got their promised bonuses for staying on during the financial crisis. I mean, clearly they were titans of an industry they helped to destroy, saved at the behest of a government they despise, but who could really begrudge them a windfall?
Re: Ask HN: What happens with stock grants for Twitter employees?
#14https://www.nytimes.com/2022/04/25/technology/twitter-employ... "At the meeting with employees on Monday, executives tried to assure employees that they wouldn’t be shortchanged by Mr. Musk’s acquisition. Mr. Agrawal told employees that their stock options would convert to cash when the deal with Mr. Musk closes, which he estimated would take between three and six months. Employees would receive their same benefits p…
Heh, we all know the truth, hence why the question pop-up in the first place. Elon will cut deep in left and right among employees within an year. I guess only 30% of existing ones will still work at Twitter in a year after deal is done.
Re: Ask HN: What happens with stock grants for Twitter employees?
#15Also: what is the point of taking the company private?
Re: Ask HN: What happens with stock grants for Twitter employees?
#16Re: Ask HN: What happens with stock grants for Twitter employees?
#17Most agreements have a liquidity event (i.e. an acquisition) clause. They this sort of thing happens, your unvested options can be vested and exercised immediately.
Re: Ask HN: What happens with stock grants for Twitter employees?
#18https://www.nytimes.com/2022/04/25/technology/twitter-employ... "At the meeting with employees on Monday, executives tried to assure employees that they wouldn’t be shortchanged by Mr. Musk’s acquisition. Mr. Agrawal told employees that their stock options would convert to cash when the deal with Mr. Musk closes, which he estimated would take between three and six months. Employees would receive their same benefits p…
This is the best source, however I’m hardened and cynical and what execs “assure” in a meeting has no bearing on what they’ll do in 6 months.
Re: Ask HN: What happens with stock grants for Twitter employees?
#19https://www.nytimes.com/2022/04/25/technology/twitter-employ... "At the meeting with employees on Monday, executives tried to assure employees that they wouldn’t be shortchanged by Mr. Musk’s acquisition. Mr. Agrawal told employees that their stock options would convert to cash when the deal with Mr. Musk closes, which he estimated would take between three and six months. Employees would receive their same benefits p…
This is the best source, however I’m hardened and cynical and what execs “assure” in a meeting has no bearing on what they’ll do in 6 months.
If they're even there in 6 months. Musk can just fire them all and do whatever.
Re: Ask HN: What happens with stock grants for Twitter employees?
#20It is likely they will try to maintain the total comp levels for at least a year, meanwhile they will reassess the entire talent pool and make whatever correction they deem necessary. Twitter has no meaningful assets other than the talented people that work there. If sufficient number of critical talent leave (intentionally or accidentally), it could hurt twitter significantly in the near term. People from other industries sometimes don't get this – in a live internet app service, software code has very short shelf life. It starts to rot/smell very quickly if there aren't engineers who understand it tending to it. Without engineers who understand the codebase well, it usually results in more frequent outages in production, super slow productivity in adding features, and any feature change resulting in buggy/broken functionality etc. Bringing in new engineers who can dig out a working understanding of the code, then refactor/rewrite the whole thing can be done - but it requires talent that is very scarce and even then it is super slow – likely multiple quarters to couple of years – for any such transition.