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I work for a reasonably sized corporation.
Abour 3 years ago, with big pomp, we were given "shares" of this company. Everyone received hosh posh paperwork with 10 000 shares free. Corporate opened company own manufacturing, and now we all are being pressed to deliver products, manufactured by that division, for reasons obvious. Quite poor quality though and other things, but it's irrelevant.
Reason I am questioning this is - they are not publicly traded. Personally, I think, it's phony meaningless "carrot" they put in front of us donkeys.
But maybe I am missing something? As I do not see, how one can utilize them when, say, quitting or retiring. What use are they?
How is the company incorporated? Is it an LLC, LP, S-corp?
Privately traded shares can be very real. What does the paperwork say? I hold a few shares in a private company right now and they pay a quarterly cash dividend, and if the company ever were to go public, I would be able to sell them for a decent amount. I would be surprised if the paperwork you were given when receiving the shares didn't outline the vesting schedule for ownership. More often than not you can absolutely trade the shares in for cash in privately held stocks, but typically there are conditions tied to them mandating so many years of employment, or so much profit gain before the shares fully vest. It is absolutely a carrot on a stick. In most cases they are given out to incentivize people to stay with the company and work hard. If they do, they can trade the shares in for a decent paycheck in the future.
No, we have no dividends. Not since we had them. I'll have to undust the paperwork, but it's vested from day one, that I do remember. One had to work for company for a year to get his/her package.
They always talk about promoting their devices, so that "our profit grows" as we are "sharing in the company" but in those years I have not seen a penny out of it.
Not sure how I can sell them if it's just a piece of paper.
No, we have no dividends. Not since we had them. I'll have to undust the paperwork, but it's vested from day one, that I do remember. One had to work for company for a year to get his/her package.
They always talk about promoting their devices, so that "our profit grows" as we are "sharing in the company" but in those years I have not seen a penny out of it.
Not sure how I can sell them if it's just a piece of paper.
Again - all stock is 'just a piece of paper'. No one ever makes money on stock options until they either sell or leave the company.
How have you gone three years and not asked your HR people to explain the details of this?
We don't have HR "people". We have one gal that is called HR. It's a "strange" company for lack of better word.
That's what I am trying to figure out. How can one sell something, if it's no publicly traded stock.
THEY will not pay me for it, that I know 100%. I tried "politely" inquire, but had 30 minutes of round words that never clarified anything. Pressing into this matter is not welcomed.
Not sure, if you are familiar with corporate bs. That's when they talk for an hour, and thereafter, you sit and wonder - what exactly was said?
They always talk about promoting their devices, so that "our profit grows"
as we are "sharing in the company" but in those years I have not seen a penny out of it.
We don't have HR "people". We have one gal that is called HR. It's a "strange" company for lack of better word.
That's what I am trying to figure out. How can one sell something, if it's no publicly traded stock.
THEY will not pay me for it, that I know 100%. I tried "politely" inquire, but had 30 minutes of round words that never clarified anything. Pressing into this matter is not welcomed.
Not sure, if you are familiar with corporate bs. That's when they talk for an hour, and thereafter, you sit and wonder - what exactly was said?
Privately held stocks are a very, very common thing.
How is your company legally incorporated (s-corp, LP, LLC, etc.) If you tell me that, I could very easily explain how ownership shares in your company works.
Incorporated in 1992, the Company now represents several industry leading manufacturers in the states of California, Nevada, Oregon, Washington, Montana, Alaska, and Idaho. This exponential growth has been very carefully planned and charted by an experienced management team.
I'll need to find out exactly how. Can you give me a ballpark?
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