For anyone not aware, it is mandatory that 5% of your bonus will be awarded in shares. Team members will only get told during their meeting. You get a minimum of 2 shares if you can't afford more.
Can anyone explain how this is calculated? E.g. if 5% of your bonus is taken for shares, but that is only enough for say 2.5 shares, how does it work? (What happens to the residual?)
The 5% of your incentive that is going to RSU has to be enough for 2 shares. So, if you’re like me, the 5% isn’t enough to buy one share so the cash will come back to you.
What BS that there was no notification to employees about this. What a joke.
@fz inflates the share price to look like more people are buying
@fz So you "own it" per the principles (literally).
@g0 It's a "take it or leave it scenario", buddy!
@fz pump and dump (sell off business/merger)
@at so how can we get away from them and why do we as employees need shares we dont want
Whats the benefit of pushing bs shares on everyone
The reason why they’re giving you shares which are restricted for three years instead of cash is due to their cash flow problem. Same deal with why they don’t contribute to your 401k matching per paycheck. In the end they know they won’t have to pay it out if they lay you off. Just sc--wing everyone over as much as possible.
OMG it’s like they want you guys to quit.
Let’s see how much “we” (upper mgt) can get away with while we laugh behind their backs.
It’s like a rat maze. LOL
Sounds like a literal living he-l
Lmao. Nothing surprises me anymore.
@a7 ...then unfortunately, you forfeit them. Incentive payment is discretionary. They can pay you in Monopoly money if they wanted to.
@at my bad thought you were talking about the current batch sorry
@as These are restricted stock units. You can’t dump them. They don’t vest for three years.
The sale date of the batch I got a few years back is mid Feb so I already scheduled to dump all of them in a month whatever the price is.
Wtf is this,clear strategy to spike up the stock price..you can’t force folks to get the bonus you deserve in shares? Shouldn’t there be an opt out option? Why can’t the award shares on top of the bonus?this place is unbelievable…
@ah but wouldn't you have paid taxes already on them?
What a BS move this is. Just when you think this place can't get any worse.
And if they lay you off… you lose the shares!
@a9 exactly and when they first said you could decline them like 4 years ago, there was no option to do that. I dont want to be attached anymore and never did. Can we just request a pay out and be done?
@a7
Exactly. I want to be a conscientious objector.
BNY is helping mental illness thrive. BNY encourages abuse and more lax labor laws in foreign lands. BNY encourages immorality, malfeasance and destruction of US and UK society.
How can I allow myself to be a shareholder and owner of this?
It is being a willing partner in crime.
This is how they treated the 10 shares when they were issued to those over a certain $ limit. If you were over that limit, the cost of the shares came out of your incentive payment.
Since when are we required to have any bonus money added to shares? I personally dont want any of their bs shares