Have a son who's company's owner gave company to employees and walked away...

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Jun 9, 2021
12:13:46pm

relic All-American

Have a son who's company's owner gave company to employees and walked away...

said he had made enough. It was my son's first job about Masters in EE at BYU... literally had his retirement in place almost from the start of that job... He did stay for 14 years.... and now, 3 years later ... he still has a couple of years before he gets everything out ... and he says it's enough.... nice.

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relic

Bio page: relic
Joined: May 20, 2010
Last login: Apr 25, 2024
Total posts: 6,267 (1 FO)

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Messages

Author

Time

Has anybody been with a company when they went public? In your experience, what

Vincent's Picks

6/9/21 11:49am

I wasn’t part of the co but family was - they gave stock to employees. Can’t

homegrown

6/9/21 11:51am

Yes. If you don’t already have stock, it’s unlikely they will just hand some out

TarCoug

6/9/21 11:52am

I was.

zsmooth

6/9/21 11:53am

I work for a Pre-IPO company and get more stock options every month. The shares

6/9/21 11:55am

That's where I'm at. I have plenty...but rumor is an IPO in the next 12 months.

Vincent's Picks

6/9/21 11:58am

I’m guessing you are either at MX or BambooHr 😉

TarCoug

6/9/21 12:05pm

I take it back. You aren’t in Utah.

TarCoug

6/9/21 12:06pm

I have a friend who did. Sucked for him.

Eddie

6/9/21 12:10pm

That's messed up.

ballen

6/9/21 12:12pm

Hopefully he lawyered up. That’s actually a pretty easy lawsuit, and the company surely would have settled.

zsmooth

6/9/21 12:17pm

As far as I know, he didn't. It was probably 10-15 years ago.

Eddie

6/9/21 12:21pm

Too bad. That sucks for him.

zsmooth

6/9/21 12:34pm

I'm curious what the basis of the legal claim would be

6/9/21 12:23pm

That they let him go then immediately rehired him shouldn’t reset his clock. From the employment litigation I’m familiar

zsmooth

6/9/21 12:34pm

But if the argument is that they fired and re-hired this guy

6/9/21 12:41pm

Doesn’t matter.

zsmooth

6/9/21 1:38pm

LOL. Solid rebuttal

6/9/21 3:09pm

IANAL. I’ve just seen things like this happen before, and the employee always prevailed. I don’t know what the

zsmooth

6/9/21 5:01pm

Not a legal person, but wrongful termination? Don’t know if that’s a real thing

Powerbait DPM

6/9/21 2:59pm

Do you know what company he worked for? During the recession in 2008 my dad’s

Powerbait DPM

6/9/21 3:09pm

It was a somewhat local company.

Eddie

6/9/21 4:39pm

Have a son who's company's owner gave company to employees and walked away...

relic

6/9/21 12:13pm

Just happened at my company. Got nothing. Nothing feels different.

thewaterboy

6/9/21 12:25pm

Yes, just 1 month ago. All of my VSOP options that hadn't vested yet did and we

IPA

6/9/21 12:25pm

My company went public last year.

Kolipoki

6/9/21 3:20pm

Not an IPO, but an acquisition. The venture capitalists sold us to a public

Megamind

6/9/21 9:44pm

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