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Appeals Court hears dispute over valuation of unvested Fidelity awards in divorce case
Summary
The Appeals Court on June 6 questioned whether a probate judge abused discretion by dividing unvested Fidelity NVC awards equally instead of applying the coverture/time-rule (Picante); counsel debated NAV, distributions (IEUs), and whether an if-and-when approach or present-value approach should control.
A three-justice panel of the Massachusetts Appeals Court on June 6 heard argument in an appeal challenging how a probate judge divided Fidelity-related compensation in marriage dissolution proceedings (docket reported as 24P0792). Appellant counsel Nancy Baskin argued the trial judge erred by allocating entirely unvested NVC awards equally rather than applying the Picante time-rule or an if-and-when method; respondent counsel Steven McKenzie urged deference to the judge's detailed findings and broad discretion.
Why it matters: The case addresses how courts should treat employer-retention awards and similar equity-style compensation (here called NVCs) that vest over multiple years: whether such instruments are marital property subject to division now and…
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