For Google employees and alumni
Planning for Google employees, one trading window at a time.
Alphabet’s insider trading policy gives every employee a quarterly window to sell, and closes it about a month earlier for Level 8 and above than for Level 7 and below. We build the sell rule, the tax reserve, and the rest of the plan around that calendar, one GSU vest at a time.
The situation
A calendar set by your level, and a stock you did not choose
Alphabet reported 190,820 employees at December 31, 2025. For most of them, the part of pay that grows fastest is the Google Stock Unit: a restricted stock unit that settles in Class C shares and, under the Alphabet 2021 Stock Plan, generally vests over four years contingent on employment on each vest date. Dividend equivalents accrue on unvested units and vest with them. Shares are issued net of statutory tax withholding, so each vest delivers fewer shares than vested, and the withheld shares usually cover less than the tax the income creates.
Alphabet files its Policy Against Insider Trading with its annual report; the 2025 Form 10-K incorporates the version filed in February 2025. It sets the trading window by employee level, names the company’s Employee Trading Plan program for selling on a pre-set schedule, and bars hedging, pledging, margin accounts, and short sales. That ban matters: collars and prepaid forwards, the tools often pitched to holders of one large stock, are not available to a current employee. What remains is selling, gifting, and a written plan.
Headcount also moves. In January 2023 Google announced a reduction of about 12,000 roles, with a U.S. package starting at 16 weeks of salary plus two weeks per additional year, at least 16 weeks of accelerated GSU vesting, and six months of health coverage. Packages vary by round and country. The planning point is narrower: an unvested balance can be cut short, or partly accelerated, on a date you did not pick.
The calendar
Alphabet’s quarterly trading window, by level
The policy sets one opening rule for everyone and two closing rules. Alphabet’s fiscal quarters are calendar quarters.
| Results for | Window opens (all levels) | Closes for Level 8 and above | Closes for Level 7 and below |
|---|---|---|---|
| Q4, reported late January or early February | Second trading day after the release | Close of the first trading day of March | Close of the first trading day of April |
| Q1, reported in April | Second trading day after the release | Close of the first trading day of June | Close of the first trading day of July |
| Q2, reported in July | Second trading day after the release | Close of the first trading day of September | Close of the first trading day of October |
| Q3, reported in October | Second trading day after the release | Close of the first trading day of December | Close of the first trading day of January |
Worked through 2026: Alphabet reported fourth-quarter results on Wednesday, February 4, so the window opened for everyone on Friday, February 6. A Level 7 engineer could sell through the close on April 1, nearly eight weeks. A Level 8 director’s window closed at the close on March 2, about three and a half weeks. Board members and Section 16 officers also pre-clear each trade unless they sell through an approved 10b5-1 plan. Two smaller rules follow: limit and stop orders may not be left open across a closed window, and bona fide gifts of shares are generally permitted only in an open one, which puts year-end charitable gifts of GOOG on the same clock as sales.
Why it’s complex
Six Google-specific decisions that compound
Four years, on the schedule your grant sets
Alphabet’s 10-K says RSUs generally vest over four years. Whether a grant vests monthly, quarterly, or annually, and whether more of it lands in the early years, is in the grant agreement, and Google has changed the pattern over time. Map each grant separately.
Equity compensation and concentrated stockNet settlement covers the statutory rate, not yours
Alphabet keeps shares at vest to cover 22% federal (37% once supplemental wages pass $1 million in the year) and 10.23% California withholding. For a household in the 35% federal and 11.3% California brackets that leaves a gap of roughly 14 cents on every vested dollar, owed through a same-day sale, added withholding, or estimated payments.
The full RSU guideNo hedging, pledging, or margin
The policy bars hedging, derivative transactions, pledging shares as collateral, and margin accounts for employees. Diversifying a GOOG position means selling or giving shares, and building the rest of the portfolio to sit around what remains.
Direct indexing around a positionThe 401(k) limits for 2026
Deferrals are capped at $24,500, with an $8,000 catch-up from age 50 and $11,250 at ages 60 to 63. Total contributions from all sources are capped at $72,000. Whether your plan accepts after-tax contributions or in-plan Roth conversions is in the summary plan description.
Catch-up contributions in 2026If a role ends before a vest date
Unvested units are contingent on employment on the vesting date, so the separation terms decide what vests. In the January 2023 reduction, Google’s U.S. package included at least 16 weeks of accelerated GSU vesting alongside severance and six months of health coverage; later rounds set their own terms. A cash reserve sized to an unplanned exit sits apart from the tax reserve.
Executives and equity compensationLeaving California
California taxes each vest as wages by the share of workdays spent there between grant and vest, even after you move. A genuine nonresident’s later gain is not California’s. Texas has no personal income tax.
Planning in AustinThe sell rule
A sell rule you can actually follow
A rule written before the window opens beats a decision made inside it. Four structures fit Alphabet’s policy; none is advice for any particular household.
| Rule | How it works | Where it fits | Trade-offs |
|---|---|---|---|
| Sell at vest | Treat each vest as cash pay: sell in the first open window after it lands and invest the proceeds by plan. | Households that would not buy GOOG with a cash bonus of the same size. | Vests that land in a closed window wait; many small lots to track; the tax is the same whether or not you sell. |
| A fixed fraction per window | Sell a set percentage of the position in every open window until it reaches a target weight. | A large position built over many grants. | Slower; the position stays exposed meanwhile; Level 8 and above have less time each quarter. |
| Employee Trading Plan or 10b5-1 plan | Set the sales in advance; they then run through closed windows. | Level 8 and above, officers, and anyone who keeps missing windows. | A 30-day wait before the first sale for non-officers; at least 90 days, up to 120, for officers and directors. Changing the plan restarts the clock. |
| Gift long-held shares | Give shares held over a year to a donor-advised fund or charity in an open window, instead of selling and giving cash. | Households that already give. | Deductible at market value up to 30% of adjusted gross income; from 2026 the first 0.5% of AGI given is not deductible; irrevocable. |
Sources: Alphabet Policy Against Insider Trading, Exhibit 19.01 to the 2024 Form 10-K; Alphabet 2025 Form 10-K (employees, RSU vesting and settlement); IRS Publication 15 (2026); IRS Notice 2025-67; California EDD DE 44; FTB Publication 1004. Terms vary by grant and level; the policy and your plan documents govern.
Our approach
A plan that runs on Alphabet’s calendar
We read the filed policy and the plan terms so the first meeting starts with your specifics: your level, your grant agreements, the vests still to come, and the state you work in. Then we write the rules down in the order the dates arrive.
Map the grants
Every grant, its cadence and remaining vest dates, shares withheld at each vest, and the cost basis of what you still hold, in one schedule.
Write the sell rule
How much to sell, at what floor, and whether an Employee Trading Plan makes sense given your level’s closing date and the cooling-off period.
Reserve the tax
Estimate the gap between what Alphabet will withhold and what the income will cost at your bracket, then cover it with a same-day sale in an open window, added withholding, or an estimated payment by its due date.
Set the residency file
Day counts, the California share of each remaining vest, the timing of the house sale, and what a Texas address does and does not change.
The work
What you’ll work through with us
- A grant-by-grant map of GSUs: cadence, vest dates, withheld shares, and basis
- A written sell rule for each open window, matched to your level’s closing date
- Employee Trading Plan and 10b5-1 design around the cooling-off period
- The withholding gap at each vest and the year’s estimated payments
- GOOG concentration measured against the whole balance sheet, and the portfolio built around it
- 401(k) contributions against the 2026 limits, including after-tax room if your plan allows it
- California-source income on vests after a move, and gifts of long-held shares, coordinated with your CPA and estate attorney
Planning at the firm is led by Theo Halbardier, CFP®, CIMA®, CAIA®, the firm’s founder. We are fee-only: no commissions, no product sales. About Theo
Questions
Common questions from Google employees
Are you affiliated with or endorsed by Google or Alphabet?
No. The Financial Sciences Company is an independent, fee-only registered investment adviser. We are not affiliated with, endorsed by, or sponsored by Google, Alphabet, or their benefit plans. We work from Alphabet’s public SEC filings and, with your permission, your own grant agreements and statements.
When does my trading window close?
It depends on your level. Every window opens on the second trading day after quarterly results. For Level 8 and above it closes at the market close on the first trading day of the quarter’s third month (March, June, September, December). For Level 7 and below it stays open until the close on the first trading day of the next quarter. Holding material nonpublic information closes it for anyone.
Can I sell GSUs while the window is closed?
Only through Alphabet’s Employee Trading Plan program or a plan approved under its 10b5-1 guidelines, set up in advance. SEC rules add a cooling-off period before the first sale: 30 days for employees who are not officers or directors; for officers and directors, the later of 90 days or two business days after the next 10-Q or 10-K, capped at 120 days.
Should I sell my GSUs when they vest?
There is no single answer. The vested value is taxed as wages either way, so holding is economically similar to buying GOOG at that day’s price with after-tax cash. Some households hold for sound reasons; many sell on a schedule. We size the decision against the rest of the balance sheet, not against a view of the stock.
Google withheld shares at vest. Why did I still owe tax in April?
Because the withheld shares cover the statutory rates, 22% federal and 10.23% California, not your marginal rates. A same-day sale of part of the vest, extra withholding on salary, or estimated payments closes the gap.
What happens to my unvested GSUs if my role is eliminated?
The grant agreement and the separation terms govern; unvested units are contingent on employment on the vesting date. In January 2023 Google announced a reduction of about 12,000 roles with a U.S. package of at least 16 weeks of salary plus two weeks per additional year, at least 16 weeks of accelerated GSU vesting, and six months of health coverage. Later rounds have had their own terms. Any accelerated vest is taxed and withheld like a scheduled one.
I moved from Mountain View to Texas. Does California still tax my GSUs?
Partly. Under FTB Publication 1004, California taxes each vest as wages in proportion to the workdays spent in California between grant and vest. Once you are a genuine nonresident, it does not tax the gain on a later sale, and Texas has no personal income tax. Residency is judged on the facts, so the move needs a file, not just a forwarding address.
Reviewed by Theo Halbardier, CFP® · Updated September 2026 · Figures current for 2026
Bring your grant summary.
The first conversation is 30 minutes, by video. A recent equity statement helps, but no preparation is needed.
We work with clients across California from our base in Texas, meeting by video.
Meet with usGoogle and Alphabet and their logos are trademarks of Google LLC and Alphabet Inc. The Financial Sciences Company is an independent, fee-only registered investment adviser and is not affiliated with, endorsed by, or sponsored by Google or Alphabet. Plan details summarized here come from public sources and may change; your plan documents govern. IMPORTANT CONSUMER INFORMATION: The Financial Sciences Company, LLC is a registered investment adviser with the Texas State Securities Board. Registration does not imply a certain level of skill or training. We may transact business in California only if we are registered there or are excluded or exempt from registration. We do not provide individualized, personalized investment advice to California residents for compensation until we have first complied with California’s requirements or confirmed that an exemption applies. We do not maintain an office in California. For information about our registration status or disciplinary history, contact your state securities regulator or visit adviserinfo.sec.gov. This page is general education, not individualized advice.