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 ?
In the end I dropped my eyes, and there was his living face in the middle of the lid of the chest, like that of the saint upon its charger.
A life-size Jack-in-the-box, he had thrust his head through a lid within the lid, cut by himself between the two iron bands that ran round the chest like the straps of a portmanteau.
I had a Sullivan for him, too; and in another minute he was spread out on my sofa, stretching his cramped limbs with infinite gusto, a cigarette between his fingers, a yellow bumper at hand on the chest of his triumph and my tribulation.
The old oak chests, and even the mahogany wine-cooler, for which he had doubtless paid like an honest citizen, were thus immovable with pieces of crested plate, which he had neither the temerity to use nor the hardihood to melt or sell.
The strong-room, however, had been opened, and it is feared the raid on the chests of plate and other valuables may prove to have been only too successful, in view of the Easter exodus, which the thieves had evidently taken into account.
I must not omit to mention another report, also, which I confess is rather apocryphal, of the buccaneer who is supposed to have been drowned, being seen before daybreak, with a lantern in his hand, seated astride of his great sea chest, and sailing through Hell Gate, which just then began to roar and bellow with redoubled fury.
He felt like the greedy inhabitant of Bagdad when his eyes had been greased with the magic ointment of the dervish, that gave him to see all the treasures of the earth.[2] Caskets of buried jewels, chests of ingots, and barrels of outlandish coins seemed to court him from their concealments, and supplicate him to relieve them from their untimely graves.
What then, in sober earnest, were the delusive treasures of the chest? Why, here were old provincial bills of credit, and treasury notes, and bills of land, banks, and all other bubbles of the sort, from the first issue, above a century and a half ago, down nearly to the Revolution.
"Let it fall!" said Peter, folding his arms, as he seated himself upon the chest.
"I have house room for you and Tabby, and a safe vault for the chest of treasure.
The floors, walls, and ceiling were of burnished silver; the doors, the window frames, the cornices, the balustrades and the steps of the staircase, of pure gold; and silver, with gold bottoms, were the chairs, and gold, standing on silver legs, the high chests of drawers, and silver the bedsteads, with blankets of woven gold, and sheets of silver tissue.
A sensation of pressure, pain or squeezing in the center of your chest is a classic symptom of heart attack.