Uh Oh ITMN

What do you think our chances of being retained are?

 

Being retained is 50/50. My manager that sent me offer said, oh well they aren't going to rehire a bunch of people so we all safe. Really? I've been around pharma long enough to know a canned, pre-planned, answer to this. I am married with 2 children. I can't accept this job.
Gonna let them know tomorrow.

I believe management has to show its putting together a field sales force team. Nobody knows what the "buyer" will do with us but I don't want to take that chance. Especially, when the buying company has thousands of sales reps.

Another negative, we literally won't make crap on the options. Equity is no value at this point.

Good Luck to all those who don't see the risk or don't care too much about the risk. For me, there are more cons then pro's now. I think God has a strange way of sometimes protecting us this is one of those situations.

 

One more thing, please, whatever you do block out all that management tells you. Its for their best interest not yours. Remember that!! If they truly cared, we all would have been blessed with an unbelievable equity package of RSU's not options.

 

You mean they really don't love me?

 

Our chances of being retained depend on who buys us. If Actelion, Gilead, Roche or Bayer buys us thrn we are all screwed. Theres no reason for these companies to keep us since they already have a seasoned pulm sales force. If AZ SA buys us then the picture gets muddy. I dont think they have a pulm sales team but they are bloated with reps. I personally dont know what to do.

 

Actually this helps us. If we had crazy rsu packages then the buyers would be incentivized to get deal done before our start dates

 

Boehringer must be loving this. What a huge distraction as we get ready to launch. Even if you take the job you'd better be looking for your next gig just in case!

 

AZ is the number three selling pharma/biotech co in Resp/Pul benhind GSK and BI. What planet do you live on? Seriously! If AZ buys you that is the worst case scenario.

 

How much in Restricted stock would it take to get you to stay? Forget the options as it is worthless at this point. Don't forget to deduct 40 pct for taxes.

My guess is 4000 shares at $65 buyout price that leaves you with $156,000 after you take out 40% for Uncle Sam

Curious to others thoughts

 

I thought we get 800 RSU. Buyout at $70 means $56,000. Right?

Also what happens if the deal is done before our start date? Does that mean they can let us all go without paying out RSUs? Can someone please clarify this?

 

It would depend on the language that is agreed upon by both companies in the takeover. My guess it would not be included although it would be the right thing to do. When does that happen anymore...

 

Technically they are not "letting you go" since you haven't started yet. There is nobody to "let go" since you are not an employee.

 

This is your alarm speaking. Wake up and stop dreaming! Why not ask for a 51% equity stake in the company. No one cares who stays and they're certainly not going to pay out there arse to keep anyone!!

 

Agree. No matter now many of you disagree reality indicates we are just cogs in a wheel easily replaced. I know that hurts many of your egos but it's reality. Wake up.

 

If you are employed on September 1st and company sells September 2, we are owed the 800 RSU's.
If company sold before September 1st, you are not entitled to anything since you techinically not an employee til after September 1st (or applicable start date)

 

After taxes it's just not worth it. This company isn't worth $70 a share

 

Your missing the point. Currently you have 800. What would it take to get you to sign on dotted line knowing the risk. I threw out 4000 to make up for the huge risk. $56000 pre tax is not worth quitting your current job

 

I got the point but no sense discussing woulda, coulda, shoulda ... they're not giving any more to a bunch of reps that literally have done ZERO for them so far

 

Funny they threw out a great equity package for managers who haven't done ZERO for company either??

See, until reps so dam desparate and reject the petty equity packages this will continue. Yes you are being used!! You will be in the unemployment line with 20K after tax cash not the managers. Think about that!

 

Yes the managers should make out better as their stock options may actually be worth something. The point is that they will not be offering extra incentives to the reps in an effort to keep them.