Leaving Nutanix
Plan Your Departure
As you plan to end your employment with Nutanix, be sure to review the following information to help ensure a smooth transition to the next stage of your personal and professional journey.
Exiting Checklist
1. Discuss plans for your departure with your manager. If possible, assist in transitioning your current responsibilities to other colleagues.
2. Make arrangements to return all company property, including laptop computers, mobile devices, and company credit cards.
3. Review your options for continuing benefits and complete any necessary action steps.
Benefit Options
Medical, dental, and vision plans
Your coverage will end on the last day of the month you are employed at Nutanix. In most cases, you have the option to continue your health coverage through COBRA. You will pay the full premium cost of these plans, plus an administrative fee, without any subsidy from Nutanix.
Review the COBRA Rights and Rules Booklet, 2021 COBRA rates, and 2022 COBRA rates to learn more.
Healthcare FSA
If you participate in a Healthcare FSA, you may continue participation through COBRA. The continuation will allow you to access any remaining funds in your Healthcare FSA at the time of your termination. If you do not elect to continue your Healthcare FSA through COBRA, you will forfeit any unused funds that you are unable to claim. Expenses must be incurred prior to your termination in order to be eligible for reimbursement.
Commuter Benefit Program (CBP)
If you participate in the CBP, please note the following:
- Transit: The transit account will terminate on your last day of employment. As such, any remaining funds in your account will be forfeited, per IRS regulations.
- Parking: If you have an existing balance, you may submit claims for expenses that were incurred prior to your termination date. Please note that all claims must be submitted within 60 days of your termination.
Kaiser Health Reimbursement Account (HRA)
If you are enrolled in the Kaiser HMO plan, you also have a company-funded HRA. As long as you elect to continue to enroll in the Kaiser HMO plan through COBRA, you may also elect to enroll in the Kaiser HRA through COBRA. The continuation will allow you to access any remaining funds in your Kaiser HRA at the time of your termination. If you do not elect to continue the Kaiser HRA through COBRA, you will forfeit any unused funds that you are unable to claim.
Basic and Voluntary Life Insurance
This coverage is portable, which means that you may continue coverage as long as you make your payments directly to The Hartford. Please review the “Notice of Conversion and/or Portability Rights” form provided as part of the check-out process for more information. You may also contact The Hartford directly if you’d like additional information.
Nutanix 401(k) Plan
In addition to the above options, if you participate in the Nutanix 401(k) Plan, you can roll over your vested account balance into another qualified plan through a new employer or into an Individual Retirement Account (IRA). If you have a balance of $1,000 or less, 30 days after being notified, Fidelity will distribute the balance to you. If the balance is between $1,000.01 and $5,000 the funds may be rolled over into a Fidelity IRA. For account balances over $5,000, you have the option of leaving your account balance in the plan. Contact Fidelity to learn more.
If you have an outstanding 401(k) loan, the plan requires that you repay the balance upon termination. Contact Fidelity Participant Services at 1-800-835-5097 to review your options, verify your exact payoff amount, and make payment arrangements. Your loan will be considered in default, and the unpaid balance will be characterized as a taxable distribution if no payment arrangements are made.
Stock options
Pursuant to the terms of the applicable stock plan, vesting of your Stock Options (as defined in either the Nutanix, Inc. 2010 Stock Plan or Nutanix, Inc. 2016 Equity Incentive Plan), if you have any, will cease on your Separation Date. In accordance with the terms of the applicable stock plan and the agreements governing such Stock Options, you will have three months from your Separation Date to exercise any Stock Options that are vested and exercisable as of your Separation Date. If you do not exercise your vested and exercisable Stock Options on or before such date, all Stock Options are forfeited in accordance with the applicable plan. Any unvested Stock Options will be canceled on your Separation Date. Please contact Nutanix Stock Admin at stocks@nutanix.com for more information.
Restricted Stock Units (“RSUs”)
Under the terms of the agreements governing your Restricted Stock Units (“RSUs”), your RSUs will remain unvested as of the date of your Separation Date, in accordance with the terms of your RSU Agreement. The RSUs and right to acquire any shares subject to the RSUs shall be terminated in their entirety on your Separation Date. Please contact Nutanix Stock Admin at stocks@nutanix.com for more information.
Employee stock purchase refund information
If you participated in Nutanix’s Employee Stock Purchase Plan, your final paycheck includes the appropriate funds you contributed to that Plan for the current purchase period. You may also access your account on the E*TRADE website or contact them by phone at 1-800-838-0908 in the U.S.
Enrolling in Medicare
If you are eligible for Medicare, here’s some information to help you understand the benefits available to you and when to enroll.
Your Medicare benefits are divided into three parts:
PART A covers inpatient hospital services.
In addition to inpatient hospital services, Part A covers care in a skilled nursing facility (SNF) or hospice. Note that it does not cover outpatient Emergency Room visits. You're eligible to sign up for Part A during the seven-month Initial Enrollment Period (IEP), which begins three months before you turn 65 and continues until the last day of the third month after your 65th birthday. It is essential that you sign up during the IEP or you may have to pay a late enrollment penalty. For the majority of people who sign up on time, Part A is premium free.
PART B covers doctor visits and preventive care.
There are specific timing requirements involved in signing up for Medicare Part B. If you delay past these specific enrollment timelines, you will pay a higher monthly premium. You can sign up for Part B within your first eligible IEP without paying higher monthly premiums. You also will have the opportunity to enroll in Part B during the eight-month Special Enrollment Period (SEP) after your Nutanix employee health benefits end without paying a late penalty.
PART D covers prescription drug costs through a private insurance plan approved by Medicare.
The Medicare Supplement medical plan offered to you provides coverage that can take the place of Medicare Part D. Keep in mind: If you don't enroll in Part D during the IEP or within exactly 63 days after your employer-provided drug benefits end, you will have to pay a penalty, and drug benefits may be delayed, causing you to have to pay retail cost for expensive prescriptions.
Visit www.medicare.gov for more information.
Keep in mind, your personal Health Advocate can walk you through your Medicare choices to help you make the best decision. Refer to the resources below to learn more: