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.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
Ravenscraig nurses were offered padded vests as protection against knives, but despite the high risk of attack from patients in the psychiatric ward, no full-time guards have been employed.
Maguire told the opening day of a five-day inquest at Dublin City Coroner's Court that two gardai, wearing padded vests and carrying handguns, appeared at the two front windows of his jeep.
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".