vest

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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 classic literature ?
said Peter, folding his arms, as he seated himself upon the chest.
The boatswain died during a storm, so they wrapped him up in a sheet, and put him in his own sea chest, and threw him overboard; but they neglected, in their hurry-skurry, to say prayers over him, and the storm raged and roared louder than ever, and they saw the dead man seated in his chest, with his shroud for a sail, coming hard after the ship, and the sea breaking before him in great sprays like fire; and there they kept scudding day after day and night after night, expecting every moment to go to wreck; and every night they saw the dead boatswain in his sea chest trying to get up with them, and they heard his whistle above the blasts of wind, and he seemed to send great seas, mountain high, after them that would have swamped the ship if they had not put up the deadlights.
I thought of the porter's friend who had helped me with the chest.
There my lords will find a nook, and three stone chests in the nook, two sealed and one open.
Dragging it into the north campong the Malay was about to congratulate himself upon the ease with which the theft had been accomplished when one of his fellows declared his intention of going to the house for the purpose of dispatching Professor Maxon, lest the influence of his evil eye should overtake them with some terrible curse when the loss of the chest should be discovered.
The Admiral sat down on his sea chest and mopped his brow with his red handkerchief.
Casks and chests of it, casks and chests of it, oodles and oodles, a fathom under the sand," chattered the Ancient Mariner.
And who is the man si tting on the chest, with the cord in his hand, looking out idly at the sea?
Then he unlocked the copper chest and lifted the lid, and Dorothy saw it was full of shining tools of all sorts and shapes.
Realizing that there was no room in the chest for the body of the Wieroo, Bradley turned to seek another means of concealing the evidence of his crime.
The shadowy figure of the nurse suddenly changed its position on the chest.
The coat flapped open in front and the rest of his apparel consisted of one brace which crossed his naked, bony chest, and a pair of trousers.