Ferraro Vega Employment Lawyers gets aggressive on behalf of workers in California who lose out on wages and benefits they’ve worked hard to earn. This can include the miscalculation of overtime pay by ignoring Restricted Stock Units (RSUs) benefits. This error can lead to employees losing out on thousands of dollars in wages in the years ahead. If this has happened to you and you want to know how to hold your employer fully accountable, contact us today for a free legal consultation.
Can an Employment Lawyer Help Me Force My Employer to Compensate Lost RSU Shares?
Yes. If an employer is working to fix the issue with your overtime pay and RSU benefits, you may not need a lawyer’s help. But if your company is delaying correcting a payroll issue or is referring you to corporate attorneys, you should also be talking to an attorney.
Other reasons you should talk to an RSU Overtime Loss Lawyer: If the overtime pay you are owed due to miscalculated RSU is a considerable sum, it’s another sign you’ll want an attorney handling your case. If your employer will be fighting the claim, you should consult with a lawyer. If your coworkers are having similar issues, you may want to speak with a California Unpaid Wages Lawyer on your own or with others from your workplace.
A skilled representative with Ferraro Vega Employment Lawyers gets to work immediately building a strong case that employers and their shield of corporate lawyers can’t sweep under the rug. A lawyer will also have a good chance of securing more for your claim than you could on your own. During the case, your lawyer also protects you if your employer tries to punish you or fire you simply for bringing up the issue.
What Are Restricted Stock Units?
Many California companies and corporations offer their employees an RSUs benefit program. They are usually offered in place of traditional stock benefits. An RSU program allows employees to earn shares of the company’s stock for certain career milestones they reach. They may be awarded RSUs upon being hired or upon getting a promotion.
RSUs are like normal stocks, but employees don’t always receive their shares right away.
These are a few of the ways RSU benefits differ:
- Employees don’t pay for RSUs like they would with stock options that allow workers to purchase company stock
- Restricted stock units are promised to employees but aren’t usually granted to workers immediately
- The RSUs awarded aren’t actually shares, they are only converted into real stock shares once upon vesting
- Employees generally have to complete a certain number of months or years at a company to meet the “vesting” requirements
- Employees usually have to pay taxes upon receipt of their RSUs
- Normal stock benefits aren’t usually added in when calculating someone’s earnings and rate of pay, however, RSUs should be considered when determining overtime pay
Workers have alleged that the value of their RSU vested stock shares should factor into the overtime pay (usually 1.5X normal pay) they receive. Employees working overtime shouldn’t have to worry about getting their overtime pay and benefits right. If there’s a problem, it should be corrected quickly, and when companies drag their feet, they should have to face consequences.
How Can Ignoring RSU Benefits Cause Me To Lose Out on My Overtime Pay?
When overtime wages are determined, most companies pay employees 1.5X their hourly rate for anything over 40 hours. When companies look at the employee’s salary, they usually don’t factor in stock options. However, the value of vested RSU stock can be added in. Of course, this would raise an employee’s take-home pay any time the worker clocked overtime hours.
A recent court decision in California determined that overtime pay rates should take into account RSU value. According to Bloomberg Law, Google settled with over 6,000 employees in 2023, agreeing to pay over $8 million to workers. Apple is currently facing a similar lawsuit filed by its employees.
In some cases, companies may be acting in bad faith and purposely withholding RSU compensation. They don’t want to lose the additional money and they may feel it’s an unnecessary hassle. Company officials may hope workers don’t think to examine the overtime hours to discover how the value of RSUs could multiply their overtime earnings.
In other instances, corporations simply don’t understand the difference between stock options and RSUs. No matter the root cause, businesses must be held accountable.
If RSU benefits have been incorrectly withheld over many years, the loss to employees may be substantial now and in the future. What’s more, an entire company or corporation could have hundreds or thousands of employees who are due back pay. These cases can involve millions of dollars in withheld earnings.
How Can a Lawyer Help Me Secure a Better Outcome for My Undercalculated Overtime Case?
Standing up to a large corporation can leave you feeling vulnerable and even at risk of losing your job. Having a lawyer on your side can help ensure an employer can’t ignore your financial losses or silence your voice. Your lawyer can also work to get you more than you might have been able to secure by filing a claim yourself.
Turning your case over to a skilled California Unpaid Overtime Claims Lawyer may be the only way to get your case taken seriously. Your lawyer can also often force employers to pay everything in wages they owe and, in some cases, even more.
These are just a few of the protections our attorneys can provide to hard-working employees:
- Fully investigate your case and your employer’s payroll policies and records
- Find totals for your lost income and benefits, and add in the effects a loss of money has had on your efforts to save for the future
- Take on the company’s team of lawyers and prevent them from trying to cover up an issue or blame you
- Take legal action if a company threatens to fire you for simply seeking what you are owed
- Negotiate for much more than you could usually secure for yourself, sometimes more than you are owed
With evidence in hand, we demand the return of your hard-earned money and other stock shares for the ordeal you’ve had to endure.
Contact a California RSU Unpaid Benefit Lawyer Today
If your employer isn’t fully reimbursing you for your overtime and your RSU shares, you have legal rights that need to be protected.
At Ferraro Vega Employment Lawyers, we’re here to help you make sure you get paid. We take up the fight until you receive what you are owed. We help victims of wage loss in San Diego, Los Angeles, Fresno, San Francisco, and across all of California.
At the same time, we safeguard your job security and shield you from any retaliation from employers. Our legal team knows the city, state, and U.S. labor laws and will work hard to hold your employer accountable. Don’t wait–contact us today for a free consultation.