Goldman Sachs is not required to honor the unvested stock options and unvested, contingent rights to restricted-stock units its former employee held at the time of his termination, the Appellate Division, 1st Department, has held.
“[T]he question presented is whether these unvested rights to equity-based compensation constitute ‘wages’ within the meaning of article 6 of the Labor Law,” Justice David Friedman wrote for the 3-2 majority in Guiry v. Goldman, Sachs & Co., 6341.
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