Legal Question in Business Law in Texas
Employee Shares
If a company gives shares of their stock as a merit of service or for length of employment do they have the right to take back those shares if an employee voluntarily or unvoluntarily leaves the company.
Asked on 10/25/00, 4:44 pm
1 Answer from Attorneys
Kevin George
Kevin H. George & Associates, P.C.
Re: Employee Shares
a company can decide to make an allocation of shares contingent upon time of service and continued employment but this has to be spelled out. A retroactive policy rescinding shares that otherwise would have been vested will be
difficult to sustain.
Answered on 11/15/00, 3:30 pm
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