$3.5M in Restricted Stock: Google Keeps Employee From Jump to Facebook - HotHardware
$3.5M in Restricted Stock: Google Keeps Employee From Jump to Facebook

$3.5M in Restricted Stock: Google Keeps Employee From Jump to Facebook

We know that Google has seen quite a brain drain, with many heading off to pre-IPO companies like Twitter, Facebook, and LinkedIn. Although it was recently leaked that Google has given all of its employees a holiday bonus of $1,000 (taxes paid) and a 10 percent raise, that pales in comparison with this news.

TechCrunch has confirmed that a staff engineer at Google who being heavily recruited by Facebook was given a counter-offer that he couldn't turn down: $3.5 million in restricted stock (which means the employee gets the equivalent of $3.5 million in Google stock based on its price today, with the stock vesting over time.

Reportedly, as we said, it was an offer he couldn't refuse.

Since the earlier leak about the salary / bonus retention move at Google resulted in one person's termination, we wonder what will come of this, if anything.
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So now the employ gets 3.5 mil in Google stocks? I don't get what "Restricted" Stocks mean.

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Inspector:
So now the employ gets 3.5 mil in Google stocks? I don't get what "Restricted" Stocks mean.

Yes, he get's the stock at today's prices. If it goes up, he has more money.

Once they release the next greatest thing he'll be rich,................Stick out tongue

 

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@ Inspector - The Point in Restricted stocks is, if you are allocated say 500 restricted stock units (RSU stocks), you cannot use (sell) them right away. They vest over a period of time say 100 RSU's a year, so after 2 years he can sell 200 RSU's out of 500. If the stock prices of Google is higher on that day than today, he gets more and vice-versa.

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