Choosing your last day
When you leave Meta, you lose any RSUs that haven’t vested, along with their dividend equivalents. Shares that have already vested are yours to keep.
RSUs vest on the 15th of February, May, August, and November, so leaving a week or two before one of those dates can cost you a full quarter’s vest. It’s worth lining up your vest dates against the date you’re thinking of leaving, and comparing what you’d give up with what the new job pays.
Once you have a date in mind, ask HR to confirm in writing what your last day of service will be and what happens to your next vest. If you’re getting a separation package, the terms can be different from the standard agreement.
Before you pick a date
Go through each of your grants, including refreshers, and note what would vest if you stayed a few more weeks.
Before you give notice
Get your last day and the treatment of your next vest confirmed in writing. In past layoffs, Meta’s US severance has included RSU vesting through your last day on payroll, along with unused PTO, some continued healthcare, and career and immigration support. If you’re offered a package, ask for the severance plan summary.
In your last two weeks
Download your award statements, cost-basis records, and pay history while you still have access. It’s also a good time to update the beneficiaries on your Schwab account and 401(k).
On your last day
Your vested shares stay in your Schwab account, and your unvested RSUs are forfeited. You’re still not allowed to trade on any inside information you have after you leave.
After you leave
Sort out health insurance before your enrollment window closes, whether that’s COBRA, your partner’s plan, or the individual market. You can leave your 401(k) at Fidelity or roll it over. If your balance is $1,000 or less, it’ll be paid out automatically, so decide what to do with it first.
Name your beneficiaries
This is worth doing even if you have no plans to leave. Meta’s standard RSU agreement doesn’t have an exception for death, so on paper your unvested RSUs would be forfeited. Meta does have a survivor benefit that’s separate from the agreement and can cover unvested stock. Ask HR for the current terms, and keep the beneficiaries on your Schwab and 401(k) accounts up to date.
If you’re taking a break
Start by figuring out how long you want to be off and how much you spend in a month, including health insurance. Then look at how much cash you have and how many shares you’d need to sell to cover the rest, remembering to set aside money for the taxes on those sales. I wouldn’t count on getting another refresher.
If you have stock options, you generally have 90 days after you leave to exercise the ones that have vested, and after that they expire. Check your option agreement before you set a date.
