WhatsApp cofounder Jan Koum announced in 2018 Apr that he planned to leave Facebook (which bought his company for $19B billion in 2014).
He's already sold $7.1B billion worth of his Facebook shares.
But he's still showing up to the office to collect one last payday: $450 million in stock - This is called "Resting and Vesting" in Silicon Valley lingo.
"Rest & Vest"; an open secret in Silicon Valley; is a state that often refers to wealthy entrepreneurs and engineers with one foot out the door at big tech companies who are allowed to continue to be officially employed until they're able to collect stock and options in quarterly or annual increments. Usually, stock awards after a merger are distributed on a four-year vesting cliff — if you last all four years, you get your entire stock grant.
Koum's last vesting date is Nov 2018.
He showed up at Facebook's offices in Jul 2018, fulfilling a requirement of his employment contract.
He's already sold $7.1B billion worth of his Facebook shares.
But he's still showing up to the office to collect one last payday: $450 million in stock - This is called "Resting and Vesting" in Silicon Valley lingo.
"Rest & Vest"; an open secret in Silicon Valley; is a state that often refers to wealthy entrepreneurs and engineers with one foot out the door at big tech companies who are allowed to continue to be officially employed until they're able to collect stock and options in quarterly or annual increments. Usually, stock awards after a merger are distributed on a four-year vesting cliff — if you last all four years, you get your entire stock grant.
Koum's last vesting date is Nov 2018.
He showed up at Facebook's offices in Jul 2018, fulfilling a requirement of his employment contract.
Source:
Thisisinsider.com/whatsapp-founder-jan-koum-rest-and-vest-for-450-million-facebook-stock-2018-8?utm_source=quora&utm_medium=referral
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