Author Topic: Newer Irvine listings with crazy WTF asking prices from equity sellers  (Read 1900092 times)

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Offline Ready2Downsize

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3315 on: January 18, 2022, 01:51:18 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Microsoft already had an office in Lake Forest for a long time, and the purchasing of Blizzard is just switching of owner, so there is no material impact to the job market here. Unless Microsoft decided to hiring more people locally here but this needs it to open new line of business (which requires more engineering effort to justify the extra headcount).
Most likely activision employees are getting an immediate vesting of options.

Offline Danimal

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3316 on: January 18, 2022, 01:52:56 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Microsoft already had an office in Lake Forest for a long time, and the purchasing of Blizzard is just switching of owner, so there is no material impact to the job market here. Unless Microsoft decided to hiring more people locally here but this needs it to open new line of business (which requires more engineering effort to justify the extra headcount).

Funny you brought that up.  I dont know about now but that office in Lake Forest had a small team dealing with MSSQL development. I worked there as db developer few years ago.

Blizzard activation is huge. They may or may not hire more. All i am saying is that MS has a bigger footprint in Irvine.

Offline CalBears96

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3317 on: January 18, 2022, 02:02:12 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Microsoft already had an office in Lake Forest for a long time, and the purchasing of Blizzard is just switching of owner, so there is no material impact to the job market here. Unless Microsoft decided to hiring more people locally here but this needs it to open new line of business (which requires more engineering effort to justify the extra headcount).
Most likely activision employees are getting an immediate vesting of options.

It's an all cash acquisition, so no conversion to MSFT shares. Question is, are the unvested shares accounted for?

Offline The California Court Company

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3318 on: January 18, 2022, 02:05:42 PM »
so at most, current Activision employee now has more chips to bid up house prices! it certainly won’t help, just like Broadcom employee…
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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3319 on: January 18, 2022, 02:16:46 PM »


The list of government agencies investigating Activision Blizzard has grown to now include the SEC. The Wall Street Journal reported that the Securities and Exchange Commission has subpoenaed the video game publishing giant, including CEO Bobby Kotick, for records pertaining to employment, separation agreements, and communications between senior executives. The Wall Street Journal report says that the SEC is investigating whether Activision Blizzard disclosed information about harassment and discrimination claims to investors in a timely fashion.

Activision Blizzard issued a press release on its investor relations website confirming they are cooperating with regulators and authorities. Activision CEO Bobby Kotick said,

“We are deeply committed to making Activision Blizzard one of the best, most inclusive places to work anywhere. There is absolutely no place anywhere in our Company for discrimination, harassment, or unequal treatment of any kind. While we continue to work in good faith with regulators to address and resolve past workplace issues, we also continue to move ahead with our own initiatives to ensure that we are the very best place to work. We remain committed to addressing all workplace issues in a forthright and prompt manner.”
Two months ago, the California Department of Fair Employment and Housing sued Activision Blizzard for facilitating a culture of abuse, harassment, and discrimination. The suit alleges that employees engaged in activities like a “cube crawl” in which men drank large amounts of alcohol while moving from workstation to workstation “groping” or otherwise harassing female employees. There was also an account of the infamous “Cosby suite” in which Blizzard employees set up a room at Blizzcon in 2013 where men attempted to ply women with alcohol in efforts to sleep with them.


https://www.theverge.com/platform/amp/2021/9/20/22684779/activision-blizzard-investigation-sec-activision-bobby-kotick

Maybe this is a blessing. You guys thought better.com was bad. I would avoid this with a 10 foot pole after I read this article.

Offline qwerty

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3320 on: January 18, 2022, 02:24:45 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Microsoft already had an office in Lake Forest for a long time, and the purchasing of Blizzard is just switching of owner, so there is no material impact to the job market here. Unless Microsoft decided to hiring more people locally here but this needs it to open new line of business (which requires more engineering effort to justify the extra headcount).
Most likely activision employees are getting an immediate vesting of options.

It's an all cash acquisition, so no conversion to MSFT shares. Question is, are the unvested shares accounted for?

The deal doesn’t close until 2023 so the equity wouldn’t vest until then. Even in an all cash deal the employees can get their equity swapped out for Microsoft equity. Sometimes the equity has double triggers meaning a change in control needs to happen first then a termination for the equity to vest immediately. My guess is once the deal closes the unvested equity will vest and get cashed out.

Offline Ready2Downsize

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3321 on: January 18, 2022, 03:12:00 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Microsoft already had an office in Lake Forest for a long time, and the purchasing of Blizzard is just switching of owner, so there is no material impact to the job market here. Unless Microsoft decided to hiring more people locally here but this needs it to open new line of business (which requires more engineering effort to justify the extra headcount).
Most likely activision employees are getting an immediate vesting of options.

It's an all cash acquisition, so no conversion to MSFT shares. Question is, are the unvested shares accounted for?

Depends on how their grants are worded but my hubby has worked for several companies (dot com era) that were bought out. His shares vested when it closed and I think to get them cashed out he needed to leave the company. In every case he left because each time they were moving employees to Silicon Valley for the same pay and we had just bought our forever home in Irvine which I was not willing to leave.

It was most unfortunate that he accepted a job at geocities and his start date turned out to be the day AFTER yahoo announced they were buying them which meant his option grant was priced at the buyout price. We did make money but not nearly what we would have made if he had started work a couple days earlier.

Offline CalBears96

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3322 on: January 18, 2022, 05:43:11 PM »
Depends on how their grants are worded but my hubby has worked for several companies (dot com era) that were bought out. His shares vested when it closed and I think to get them cashed out he needed to leave the company. In every case he left because each time they were moving employees to Silicon Valley for the same pay and we had just bought our forever home in Irvine which I was not willing to leave.

It was most unfortunate that he accepted a job at geocities and his start date turned out to be the day AFTER yahoo announced they were buying them which meant his option grant was priced at the buyout price. We did make money but not nearly what we would have made if he had started work a couple days earlier.

IIRC, the start date doesn't really matter. The option price is set on the date that the board approves the options granted, which could be weeks after the start date.

Offline Ready2Downsize

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3323 on: January 18, 2022, 05:49:27 PM »
Depends on how their grants are worded but my hubby has worked for several companies (dot com era) that were bought out. His shares vested when it closed and I think to get them cashed out he needed to leave the company. In every case he left because each time they were moving employees to Silicon Valley for the same pay and we had just bought our forever home in Irvine which I was not willing to leave.

It was most unfortunate that he accepted a job at geocities and his start date turned out to be the day AFTER yahoo announced they were buying them which meant his option grant was priced at the buyout price. We did make money but not nearly what we would have made if he had started work a couple days earlier.

IIRC, the start date doesn't really matter. The option price is set on the date that the board approves the options granted, which could be weeks after the start date.

His option grant was given to him when he was hired and it was at the price the stock closed the day he was hired. He obviously didn't know the price till he started work which was the week after he accepted the job. This was early jan 1999. I remember it like it was yesterday. Woo Hoo! Geocities is being bought! Options are going to pay off well only to be told um.............. the price is set the day I start which is tomorrow. Luckily the dot com bubble came later and the stock went way up months later.

He couldn't quit or he wouldn't get his options because obviously not a share was vested. He was quickly picked off by some other employees who were going to another dot com so he had two jobs for a couple months. He would tell geocities he had to take his kids to dance, go to the doctor, all kinds of excuses on why he wasn't in the office (no work from home then). I think he aged 10 years and it was working ok until one day he got a rupture appendix. Geocities didn't believe he was really sick (lots of newly minted multimillionaire kids weren't showing up so they were cracking down on absenteeism). Meanwhile his options were worthless but I told him they MIGHT be worth something so he kept the charade going till he got sick. Got the options!
« Last Edit: January 18, 2022, 06:00:14 PM by Ready2Downsize »

Offline The California Court Company

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3324 on: January 18, 2022, 08:08:04 PM »
getting off track a bit.

Attached condo without a real backyard in freaking Woodbury East (Sandwiched between Sand Canyon and 133) is going to cost more than $600 ($637 to be exact) per sqft?

https://www.redfin.com/CA/Irvine/37-Peony-92618/home/40102979

Seriously?

At least the listing agent is good at words like "Ultimate Sophistication", "HOTSPOT Destination", "Prestige Monterey”, "Exceeds every expectation", "Premier Private Lot", "Tranquil",  "natural", "decadent indulgence!" "Uncommon Experiences" "Finest Living Elements", "Premium Carpeting", "Chef-Inspired Gourmet Kitchen", "ALL Top End Stainless Steel Appliances"! "World-Class Amenities"...
« Last Edit: January 18, 2022, 08:13:41 PM by The California Court Company »
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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3325 on: January 18, 2022, 08:08:22 PM »
Apple is opening up a design center in Irvine so buy now or get priced out forever! #RSUs

https://www.bloomberg.com/news/articles/2021-12-16/apple-builds-team-in-new-office-to-bring-wireless-chips-in-house

Microsoft just announced the purchase of Activation Blizzard. Irvine now has another mega cap footprint.

Microsoft already had an office in Lake Forest for a long time, and the purchasing of Blizzard is just switching of owner, so there is no material impact to the job market here. Unless Microsoft decided to hiring more people locally here but this needs it to open new line of business (which requires more engineering effort to justify the extra headcount).
Most likely activision employees are getting an immediate vesting of options.

It's an all cash acquisition, so no conversion to MSFT shares. Question is, are the unvested shares accounted for?

The deal doesn’t close until 2023 so the equity wouldn’t vest until then. Even in an all cash deal the employees can get their equity swapped out for Microsoft equity. Sometimes the equity has double triggers meaning a change in control needs to happen first then a termination for the equity to vest immediately. My guess is once the deal closes the unvested equity will vest and get cashed out.

FY2023, MSFT FYE is 6/30.  Possible it closes this calendar year but with MSFT’s track record and broader regulatory sentiment with big tech these days… could be looking at second request and delayed timing and stretching into CY2023.

Put it another way, MSFT is paying $95/share but activision closed around $82 today.  Investors are pricing in the fact that this deal might get blocked by regulators.

Offline CalBears96

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3326 on: January 18, 2022, 09:08:04 PM »
getting off track a bit.

Attached condo without a real backyard in freaking Woodbury East (Sandwiched between Sand Canyon and 133) is going to cost more than $600 ($637 to be exact) per sqft?

https://www.redfin.com/CA/Irvine/37-Peony-92618/home/40102979

Seriously?

At least the listing agent is good at words like "Ultimate Sophistication", "HOTSPOT Destination", "Prestige Monterey”, "Exceeds every expectation", "Premier Private Lot", "Tranquil",  "natural", "decadent indulgence!" "Uncommon Experiences" "Finest Living Elements", "Premium Carpeting", "Chef-Inspired Gourmet Kitchen", "ALL Top End Stainless Steel Appliances"! "World-Class Amenities"...

I can't see anything. Said "Local rules requires you to sign in to see all the details/more pictures." This is the first time I see this message on Redfin.

Offline Soylent Green Is People

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3327 on: January 19, 2022, 07:09:23 AM »
If you scroll down the page, Redfin shows most of the data you'd want. It's sometimes helpful to look in the "tax"/"sales history" tab.

The cringe-est realtorspeak for me is "nestled". No idea why, but I can't read listings with the word.
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Offline irvinehomeowner

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3328 on: January 19, 2022, 09:29:30 AM »
The deal doesn’t close until 2023 so the equity wouldn’t vest until then. Even in an all cash deal the employees can get their equity swapped out for Microsoft equity. Sometimes the equity has double triggers meaning a change in control needs to happen first then a termination for the equity to vest immediately. My guess is once the deal closes the unvested equity will vest and get cashed out.

I get all tingly when qwerty flexes his business acumen.

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Offline CalBears96

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Re: Newer Irvine listings with crazy WTF asking prices from equity sellers
« Reply #3329 on: January 19, 2022, 10:58:55 AM »
If you scroll down the page, Redfin shows most of the data you'd want. It's sometimes helpful to look in the "tax"/"sales history" tab.

The cringe-est realtorspeak for me is "nestled". No idea why, but I can't read listings with the word.

Well, it doesn't show the data that I want to see the most, listing price and photos.  :P

 

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