Management Glossary

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vested

Having undisputed rights to something and those rights can no longer be revoked by the party that granted the rights.

For example, an employment contract may reward an employee with some number of shares of the company's stock, but only after he or she has been employed by the company for a certain number of years. Before that time is up those stock shares are not vested and the employee does not yet legally own them and cannot sell them. After he or she has completed the specified number of years of employment the shares become vested and, even if the share certificate has not yet been issued, the shares are vested and the employee's right to them cannot be legally revoked by the company unless there are some other conditions in the contract under which it might do so.

Contributed by: Managerwise Staff

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