430
Hold my beer - Bungie
(lemmy.zip)
you are viewing a single comment's thread
view the rest of the comments
view the rest of the comments
this post was submitted on 01 Nov 2023
430 points (98.6% liked)
Gaming
2499 readers
219 users here now
The Lemmy.zip Gaming Community
For news, discussions and memes!
Community Rules
This community follows the Lemmy.zip Instance rules, with the inclusion of the following rule:
- No NSFW content
You can see Lemmy.zip's rules by going to our Code of Conduct.
What to Expect in Our Code of Conduct:
- Respectful Communication: We strive for positive, constructive dialogue and encourage all members to engage with one another in a courteous and understanding manner.
- Inclusivity: Embracing diversity is at the core of our community. We welcome members from all walks of life and expect interactions to be conducted without discrimination.
- Privacy: Your privacy is paramount. Please respect the privacy of others just as you expect yours to be treated. Personal information should never be shared without consent.
- Integrity: We believe in the integrity of speech and action. As such, honesty is expected, and deceptive practices are strictly prohibited.
- Collaboration: Whether you're here to learn, teach, or simply engage in discussion, collaboration is key. Support your fellow members and contribute positively to shared learning and growth.
If you enjoy reading legal stuff, you can check it all out at legal.lemmy.zip.
founded 1 year ago
MODERATORS
It's a dick move for sure, but the clawback of unvested shares is vicious. Not possible to know the total worth without being privy to the employment contracts of those let go, but for a single senior employee of long tenure it might constitute a 6- or 7-figure rip-off. Depending on the number of staff let go, the amount of options each held and what their strike prices were, this layoff could potentially constitute a clawback of options that would have been worth tens or even hundreds of millions of dollars of Sony shares.
The clawback in general isn't really an issue; that's how restricted stock grants work. You forfeit anything that hasn't vested when you leave the company, no matter whose idea that is.
The problem is that it was Sony stock, and it's going back to Bungie. The stock should revert to Sony. In fact, I don't think it can be any other way, as those boilerplate details would have been included in the contract details of the initial stock grant. This makes me doubt the veracity of the unnamed source.