An undefined term in the stock grants was all it took to sink Goeasy's forfeiture defence
A senior executive fired without cause will collect the value of equity his employer insisted he had forfeited, after an Ontario court found the forfeiture language in his stock grants too ambiguous to enforce.
In Khatib v. Goeasy Ltd., released June 16, 2026, Justice Mathen of the Ontario Superior Court of Justice awarded Shadi Khatib, a former senior vice president at the financial services company, eight months of reasonable notice ending June 21, 2020, along with the value of the restricted stock units and share options that had accrued and a bonus set at 40 per cent of his $275,000 base salary.
Khatib joined Goeasy in May 2016 as a senior vice president, recruited from a prior employer where, by his account, he earned a $250,000 US salary plus a bonus of up to 50 per cent. During negotiations he pushed his signing grant of restricted stock units from 2,500 to 5,000, a change the court valued near $100,000. He was dismissed without cause in October 2019, by then the fifth most senior person there.
He sued for wrongful dismissal, seeking 12 months of notice, his full 2019 bonus and a pro-rated bonus through the notice period, the value of his long-term incentive units, and at least $100,000 in bad faith, punitive or moral damages. He also argued Goeasy had induced him to leave secure employment, lengthening his notice.
The company...
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