Twitter Layoff Started Today

Post by baskethead » Thu, Jul 07, 2022, 11:40 PM UTC

notch656a wrote: post #117

onion2k wrote: post #53

Earlier quoted context omitted.

That isn't how it works unfortunately. If the shares vest during the blackout period they're only released to the employee, or former employee, once the blackout ends. The employees can't sell these until the blackout is lifted. Currently there is no end date set.

I would think someone would be happy to lend you the number of shares you have blacked out for a large fee, with a contract you release that to the lender afterwards. Something like "we lend you 75% face of your blackout shares now, in return we get all your blackout shares when they're released." Edit: Per below comment, don't do this :)

Post by tomatotime » Thu, Jul 07, 2022, 11:42 PM UTC

commandlinefan wrote: post #60

ahepp wrote: post #14

Earlier quoted context omitted.

You can't take out a 401k loan if you don't work there any more. In fact, that's one of the major drawbacks of 401k loans. If you leave employment, you have to repay the loan within a set time period, or treat it as a disbursement. That said I agree, complaints about "what will happen when my severance runs out!" did elicit a bit of an eye roll.

I'd never heard that... can you roll it over into an IRA and take a loan against that?

Post by baskethead » Thu, Jul 07, 2022, 11:43 PM UTC

sokoloff wrote: post #149

notch656a wrote: post #117

Earlier quoted context omitted.

I would think someone would be happy to lend you the number of shares you have blacked out for a large fee, with a contract you release that to the lender afterwards. Something like "we lend you 75% face of your blackout shares now, in return we get all your blackout shares when they're released." Edit: Per below comment, don't do this :)

Most of these anti-insider trading policies prevent all of the obvious "one clever tricks" by prohibiting entering into options contracts, lending, borrowing, shorting, executing futures transactions, etc. If you could find someone to lend you cash (based on the totality of your financial situation and personal credit), that's fine. It's not fine to borrow someone else's shares and short them during a blackout.

Post by dmix » Thu, Jul 07, 2022, 11:43 PM UTC

onionisafruit wrote: post #72

whatgoodisaroad wrote: post #68

My understanding was that this sort of stock sale blackout is typically an internal thing to avoid insider trading liability, but if you've been laid off, you would no longer be internal and therefore no longer subject to the blackout. Is that not how it's structured here?

That's how it worked last time I left a publicly traded company during a blackout period.

Post by walrusfromspace » Thu, Jul 07, 2022, 11:44 PM UTC

rayiner wrote: post #219

projectazorian wrote: post #154

Earlier quoted context omitted.

> “Working class” lol. Class-wise, engineers are like the junior executives in the Mad Men era, or junior lawyers and bankers today. They are not only well compensated, but have tons of impact (and therefore leverage) as individual contributors. Anyone who relies on wage labor for their income (as opposed to earnings from capital) is working class. That is the defining feature of the working class. Unless you could r…

> Anyone who relies on wage labor for their income (as opposed to earnings from capital) is working class. Since when is that the definition? Doctors and lawyers have never been considered part of the "working class." Software engineers, and other categories of jobs that didn't really exist in the 1930s, are more similar to those professionals than to working class people. > People love to erode class solidarity by c…