vest

(vĕst)

1. A sleeveless garment, often having buttons down the front, worn usually over a shirt or blouse and sometimes as part of a three-piece suit.

2. A waist-length, sleeveless garment worn for protection: a warm down vest; a bulletproof vest.

3. A fabric trim worn to fill in the neckline of a woman's garment; a vestee.

4. Chiefly British An undershirt.

5. Obsolete An ecclesiastical vestment.

v. vest·ed, vest·ing, vests

v.tr.

1. To place (authority, property, or rights, for example) in the control of a person or group, especially to give someone an immediate right to present or future possession or enjoyment of (an estate, for example). Used with in: vested his estate in his daughter.

2. To invest or endow (a person or group) with something, such as power or rights. Used with with: vested the council with broad powers; vests its employees with full pension rights after five years of service.

3. To clothe or robe, as in ecclesiastical vestments.

v.intr.

1. To become legally vested: stock options that vest after the second year of employment.

2. To dress oneself, especially in ecclesiastical vestments.

[French veste, robe, from Italian vesta, from Latin vestis, garment; see wes- in Indo-European roots.]

American Heritage® Dictionary of the English Language, Fifth Edition. Copyright © 2016 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

vesting

(ˈvɛstɪŋ)

(Law) law the act of conferring a right upon (someone) which is immediately secured

Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014

vest•ing

(ˈvɛs tɪŋ)

n.

the granting to an employee of the right to pension benefits despite retirement before the usual time or age.

[1940–45]

Mentioned in

References in classic literature

They are only declaratory of a truth which would have resulted by necessary and unavoidable implication from the very act of constituting a federal government, and vesting it with certain specified powers.

View in context

Of these, 551,000 are subject to time-based vesting and will vest annually over a four-year period.

Semtech grants restricted stock units to employees of acquired company under inducement plan

J converts the MPPP into a profit-sharing plan that covers the same employees and contains the same vesting schedule.

Merger of pension plan into profit-sharing plan is not partial termination

Vesting schedule: for Flagstar, 100% immediate vesting; for Denny's, five-year cliff vesting.

Savings with a twist

Note 1: Generally, an employer that experiences a high turnover in the first two years will consider the two-year waiting period with immediate vesting. This alleviates the need for setting up accounts and handling forfeitures for a number of employees.

Retirement plan options

49,820 of the restricted stock units will vest over four years with 25% vesting on the first anniversary of the vesting commencement date and the remaining 75% vesting quarterly in equal installments, subject to the employees' continued service to Imperva through each applicable vesting date.

Imperva Closes Acquisition of Runtime Application Self-Protection Specialist Prevoty

93-27, by addressing the impact of vesting on the receipt of a partnership interest.

Rev. Proc. 2001-43 clarifies treatment of a grant of substantially nonvested partnership profits interest

The statement presumes the service period is the vesting period, unless the stock-option plan defines some shorter period, and it contains special provisions for options with graded vesting on attributing compensation cost over the vesting period.

Taking stock of Statement 123

(Pension expense is attributed from the hire date to the vesting date.

Business reacts to FASB's proposal for nonpension retirement benefits

The three conditions relate to the amount of the employer contribution, the vesting schedule used for employer contributions and an annual employee notification.

Safe-harbor sec. 401(k) Plans

As the SEC and FASB stock-option initiatives build momentum, it's clear that the special characteristics of executive options, especially vesting restrictions, must be incorporated into the valuation model.

What's the right Black-Scholes value?

The company said the stock options vest over four years, with 25% of the shares vesting on 25 February 2017 for Chapman and 25% of the shares vesting on 3 March 2017 for Peterson plus additional 6.25% of the shares vesting at the end of each subsequent quarter thereafter, subject to each executive's continued service through the applicable vesting dates.

OvaScience announces stock options to new hires under NASDAQ Listing Rule 5635(c)(4)