vest

(redirected from Padded vest)
Also found in: Dictionary, Thesaurus, Legal.

Vest

Become applicable or exercisable. A term mainly used on the context of employee stock ownership or option programs. Employees might be given equity in a firm but they must stay with the firm for a number of years before they are entitled to the full equity. This is a vesting provision. It provides incentive for the employee to perform.

Vesting

The process by which an employee with a qualified retirement plan and/or stock option becomes entitled to the benefits of ownership, even if he/she no longer works at the company providing the retirement plan or stock option. Vesting occurs after an employee has worked at the company for a certain number of years; once vesting occurs, the benefits of the plan or stock option cannot be revoked.

vest

To give immediate rights in property, even if possession or enjoyment will be delayed until later.The question of when property rights vest is critical to future interests, taxation, and creditors' rights.

References in periodicals archive ?
Victor Gray 26, and Lee McInnes, 19, wore padded vests and put a blue flashing light on their car to woo female motorists.
Victor Gray 26, and Lee McInnes, 19, wore padded vests, carried radios and put a blue flashing light on their car to pass themselves off as police, in a bid to "impress a girl".
Wearing white shirts and padded vests, the two followed the young woman driving into Edinburgh with two female passengers just before midnight.