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What is a double trigger in a stock option?
A double trigger is a control over when the vesting employee's options accelerate. For a double trigger to kick in, two separate events must occur before vesting accelerates - usually in connection with a change in control. So, if a double trigger is in place, not only must the initial event first occur (i.e., the change in control), but then a second event must occur thereafter before the vesting will accelerate. This second trigger can be a variety of events, but most often is a termination or other significant adverse change in the option holder's employment.
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