I always viewed them as future comp that was locked at a certain rate (in terms of number of shares per quarter). I got four years of unvested stock on day 1 when I joined a tech company, why on earth would I think I'm entitled to all that if I leave before it's vested?
If you see it as dangling future compensation in front of you then you wouldn't, obviously. But then why is it structured in that manner? What's the purpose?
If you view it as a signing bonus it makes perfect sense. They want to get you in the door but also don't want you to take advantage of them by quitting immediately. In that case you wouldn't be entitled to it if you left voluntarily or were fired for cause but being laid off is entirely their choice.
It’s structured that way to disincentivize leaving voluntarily, which I think is fine. What’s the problem with that? And why would that imply that if I’m laid off, I’m still entitled to that future compensation?
I know cisco doesn't do yearly vesting but at the companies that follow yearly vesting, losing job a week or a month or even 6 months before next vesting date is absolutely wage theft unless they do a full or pro-rated vesting of shares in the upcoming tranche.
Cisco absolutely does yearly vesting.