Belong

Overview

As you plan to leave Nutanix, be sure to review the following information to help ensure a smooth transition to the next stage of your personal and professional journey.

Notify Your Manager | Exiting Checklist | COBRA | Converting Insurance Policies | 401(k) | Employee Stock | Excellence
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Notify Your Manager

Notify your manager of your decision to leave as soon as possible. This allows your manager to make timely arrangements in transitioning your current responsibilities and complete any required action items in regard to your departure.

Exiting Checklist

Double-check you’ve completed these tasks before you leave:

  1. Return all company property, including your computer and mobile device.
  2. Review your options for continuing your benefits and complete any necessary action steps.
  3. Make sure all your information is updated in Workday.

COBRA

You have the option to continue many benefits through COBRA after you leave Nutanix. You have 60 days from your COBRA notification date or coverage end date to enroll in COBRA. You are responsible for the full cost of premiums, plus an administrative fee, for any plans you continue through COBRA. After you elect coverage, you have 45 days to pay all current and retroactive premiums to Vita COBRA.

  • Medical, dental, and vision: Your coverage will end on the last day of the month you are employed at Nutanix, unless you elect to continue your coverage through COBRA.
  • Healthcare FSA or Limited Purpose FSA: You may continue participation in either FSA through COBRA. If you choose to continue participation, you will be able to access any remaining funds left in your FSA when you leave Nutanix. These funds can be used for expenses incurred after your termination date through the end of the plan year. (If you don’t elect to continue your FSA, you will lose any money in your FSA that remains after your termination date. You have 90 days to submit claims for expenses incurred through your termination date.)
  • Dependent Care FSA: You will stop putting money in your FSA on your last day of employment. You’ll be able to use the accrued money in your account until the end of the plan year (December 31). After that date, you’ll lose whatever remains in the account. You can submit claims through March 31 for expenses incurred through the previous December 31.
  • Kaiser HRA: If you are enrolled in the Kaiser Permanente HMO and choose to continue coverage through COBRA after you leave Nutanix, you may also enroll in the HRA through COBRA and continue to access any funds left in your account when you leave Nutanix. If you don’t elect to continue the HRA, you will lose any funds you haven’t claimed prior to leaving.
  • HSA: You can take your HSA account with you. You may roll it into another account if you’re covered by a qualified high-deductible health plan, keep your account with HealthEquity, or close your account. Contact HealthEquity to learn more about these options.

For more information, review the COBRA Rights and Rules Booklet and 2023 COBRA rates.

Medicare and COBRA

If you have COBRA coverage before signing up for Medicare, your COBRA coverage will end once you sign up. Once your COBRA coverage ends, you have eight months to sign up for Part B. If you don’t enroll during this enrollment window, there may be a gap in your coverage, and you might be required to pay a Part B late enrollment penalty.

Before you elect COBRA, talk with your State Health Insurance Assistance Program (SHIP) about Part B and Medigap.

Converting Insurance Policies

Your basic life insurance, voluntary life insurance, disability, and AD&D policies are portable, meaning you can convert your current policy to an individual one and make your premium payments directly to Prudential. You have 30 days to elect and pay for life insurance continuation.

Review the “Notice of Conversion and/or Portability Rights” form provided as part of the check-out process for more information or contact Prudential directly through their website or call 888-598-5671.

401(k)

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 your balance is $1,000 or less, Fidelity will distribute the full balance to you in a lump sum within 30 days after being notified of your termination.
  • If your balance is between $1,000.01 and $5,000, the funds may be rolled over into a Fidelity IRA.
  • If your balance is over $5,000, you have the option of leaving your account balance in the plan. Contact Fidelity to learn more.
What if I have a loan against my 401(k)?

If you have an outstanding 401(k) loan, the plan requires that you repay the balance upon termination. Call Fidelity at 800-835-5097 to review your options, verify your exact payoff amount, and make payment arrangements. If you don’t make payment arrangements with Fidelity, your loan will be considered in default, and the unpaid balance will be characterized as a taxable distribution.

Employee Stock

If you participated in the Employee Stock Purchase Plan, please read the following carefully to understand your options.

Note:

Make sure you have added your personal email to your E*TRADE account so you will continue to get communications about your account after you leave Nutanix.

Employee Stock Purchase Plan refund information

If you participated in Nutanix’s Employee Stock Purchase Plan, your final paycheck includes the appropriate funds you contributed to Employee Stock Purchase Plan for the current purchase period. You may also access your account on the E*TRADE website or contact them by phone at 800-838-0908 in the US.

Restricted stock units (RSUs)

Under the terms of the agreement governing your RSUs, your RSUs will remain unvested as of the date of your separation date. 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.

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 don’t 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.

Excellence

When you leave Nutanix, we encourage you to redeem your award points prior to leaving as you will lose access to the Excellence portal. Excellence points do not expire; however, you will only be able to be access them by contacting the Work Human Customer Service team after your term date. If you have questions, please reach out to Work Human Customer Service via email at customerservice@workhuman.com.