Can a company NOT pay out my stock options upon termination?
I was recently terminated and my company is saying that can't pay out my stock options until July (90+ days after termination). However, I can only exercise these options for 90 days after termination. How can I handle this situation?
I did exactly what you're describing when leaving a privately-held company that was about to have the final 21% ownership acquired. You have to have enough cash-on-hand (and be willing to risk losing it) to purchase the options in your 90-day window. Once converted from options to stock, you have to hold it until the company can buy them back from you. The advice to consult a lawyer is relevant as I'm sure the contract language has several paragraphs related to this transaction.
get a lawyer who knows about stuff like this, and have them read the stock options agreement you signed with the company.