Forfeited Shares

[echowitch]

Quick question. I was given 747 shares as "free" shares by the company I've recently left. They were given to me end of last year. I left the company at the start of last month, and received notification today that I have 15 shares for being with the company for 0-3 years, which I get to keep. (They are worth about £10 but it will cost me £20 to cash them in.)

 

The "free" shares given to every employee they have taken back. Obviously this is about £500 Im missing out on here. Is there anyway to argue this and demand that the shares NOT be forfeited ? I certainly don't recall any clauses stating I would forfeit the shares for leaving the company.

[slick132]

HI Echo,

 

Can you confirm in what way you were given the shares. Eg did you get a share certificate, or a letter confirming entitlement, etc.

 

I certainly don't recall any clauses stating I would forfeit the shares for leaving the company.

Have you checked through your employment contract to see if this is anything about shares when you leave.

 

Is this a PLC or a smaller Ltd Co, perhaps family owned or run.

 

8-)

[echowitch]

I received an email about the entitlement, and its a large Ltd company. No idea about the employment contract as I don't have a copy and I've been trying to get one from the company.

[markcomp]

You must need the employment contract in order to proceed any further but the company can't refuse to issue you with one and from there you could take further actions in order to get your proper money back. I beleive ther won't be any hassle and you are certainly entitle to rise an issue. Let us know what happened.