Re:Shopify lets staff decide cash-stock pay mix as shares dive
by PuppyTailWags on Friday September 16, 2022 @11:58AM
(#32867978)
> I can agree with this in principle, but in practice, who gets to write the contract governing this stuff? Do employees get a say?
This is precisely what unions are for. It's possible to develop a professional organization that then informs expected standards of employment, such as shares in ownership of the company. The Actors Guild for example will specify and fight for the intellectual property of actors part of the guild, including in contracts where members of the guild are hired.
Re:Shopify lets staff decide cash-stock pay mix as shares dive
by BMorearty on Friday September 16, 2022 @11:49AM
(#32867789)
Were you able to exercise those options after the acquisition was announced? Did you finally get the payday you were hoping for?
Re:Shopify lets staff decide cash-stock pay mix as shares dive
by neon_electro on Friday September 16, 2022 @10:09PM
(#32874156)
Yes - the contract I had agreed to allowed for some time to elapse after being let go and I would still be able to exercise the options.
I got a payday of $27k before taxes, $18k after taxes. In my opinion, I should've negotiated $10k additional salary if not more when I got the job; it would have been a far better payout without any 4 year requirement of loyalty (I was not appropriately rewarded for said loyalty).
I had options at my last job. They were worthless to me the entire 4.5 years I spent there. It wasn’t until 2 weeks after I was let go the company announced it was being acquired and my lottery tickets became worth something.
4.5 years of opportunity to be engaged at a deeper level as a shared owner of the business, wasted because the business never wanted me to be a part owner in the first place.
Definitely looking for more companies that operate the way you would expect here!