Traxbeat Stock Awards are similar to Restricted Stock Units that we offer to our beta users as a reward for their early participation. These are type of stock-based compensation that we offer as a benefit and every registered beta user will earn Traxbeat Stock Awards by either rating music or purchasing and using credits. Currently and technically these doesn't worth anything immediately but it is a promise of future stock in the company that you can either keep or sell. The Traxbeat Stock Awards will be converted to actual stock shares once the beta user is fully vested through performance or length of time within the Traxbeat which is 4 years from the time the user created his Traxbeat account.
Unlike RSU that are being given to an employee from the start, Traxbeat Stock Units are earned according to user actions in our Beta and the amount of Traxbeat Stock Units a user can hold depends on the amount of credits he either earned through rating music or purchasing credits (See Pricing). Each credit transforms to a Traxbeat Stock Unit that is bound to a user's account. User cannot sell, exhange or transfer any Traxbeat Stock Units until you have completed 4 years of your Beta Account Creation, unless we contact you earlier.
The amount of TSU that you currently own can be found by visiting your "Billing" page.
We will contact with you with details on how to activate your Traxbeat Stock Awards and what actions you need to take. You will be able to either sell or keep your units.