When I was promoted in my job back in 2008 I was promised 1000 shares in stock options. I only got 400 total and am now termed.

Asked about 1 year ago - Attleboro, MA

Do I have a case to get what is owed to my by suing them?

Attorney answers (3)

  1. George M. Megaloudis

    Contributor Level 9

    1

    Lawyer agrees

    Answered . Hard to say. You need to review your employment agreement, offer letter when they hired you and also emails to see if you can document the 1000 shares. You also need to confirm that there were no reverse splits in terms of the company stock. This would be a good staring point. Once you have that info, you should contact an employment lawyer to go over your what you have in terms of a paper trail to see if you have a valid claim against the company.

    The answer provided is intended for general informational purposes only and should not be construed as a... more
  2. Patrick Joseph Heffernan

    Contributor Level 8

    Answered . I agree, without any documentation or knowing the company's practice stock options (whether they are part of payment/salary or a gratuity), it will be difficult to show that you are entitled to an additional 600 shares. If you are able to find the correct documentation, it will be worth seeking an employment attorney in your area.

    The information contained in this response should not be construed to be formal legal advice nor the formation of... more
  3. Debra K. Shoji-Sinkus

    Contributor Level 3

    Answered . The answer here depends on your offer letter or any other documentation provided to you concerning the promotion. Also, you will need to verify that it was stock option vs. stock grant vs. restricted stock units. Stock options are not the actual grant of stock, but rather the "option" to purchase stock at a certain price. You can choose whether or not to purchase it. Stock grants are simply that the granting of stock. Restricted stock units are the granting of a certain number of shares, but usually have a vesting period. For example, if your company has a 4 year vesting period where 25% vests annually and you quit or are terminated 2 years after the grant of the RSUs, you would only be entitled to 50% of the original grant (i.e. Company grants you 1000 RSU on 1/1/2011...on 1/1/2012 you would now have 250 shares free to do what you want with....on 1/1/2013 your would now have another 250 shares for a total of 500....if you leave 1/31/2013, then you walk away only with the 500 shares). Hope this helps, but its best if you look at the documentation to (a) see the actual amount offered and (b) what type of grant/option was provided.

    The response provided is intended for general informational purposes only and should not be construed as a... more

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