In 2018, we granted new equity awards to our named executive officers described in the table below. In determining the size and terms of these equity awards for Mses. Friar, Henry, Reses and Whiteley, our compensation committee, with input from our CEO, our then-current People Lead and Compensia, considered the past and expected future key contributions of each of these named executive officers, the extent to which their existing equity awards were vested and the competitive market data for similarly situated executives. Our compensation committee believed it was appropriate to grant each of them new equity awards to help achieve our retention goals and further align their compensation with the competitive market.
(1) Ms. Friar resigned from her position as Chief Financial Officer, effective as of November 16, 2018.
(2) One-twelfth of 10% of the shares subject to the option vest in equal monthly installments over one year from April 1, 2018, and one-thirty-sixth of 90% of the shares subject to the option vest in equal monthly installments over three years from April 1, 2019, subject to continued service with us.
(3) 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us.
(4) With respect to 16,695 of the total RSAs, 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us. And, with respect to 11,784 of the total RSAs, one-sixteenth of RSAs vest in 16 equal quarterly installments over four years from October 1, 2018, subject to continued service with us.
(5) Messrs. Daswani and Murphy did not receive any additional equity awards in conjunction with their service as interim co-CFOs. Equity awards to Messrs. Daswani and Murphy were granted equity awards in April 2018, prior to their becoming named executive officers, as part of the company-wide compensation review program. Their grants were recommended by their direct manager, reviewed by the then-current People Lead and approved by our compensation committee.
(6) With respect to 1,336 of the total RSAs, one-sixteenth of RSAs vest in 16 equal quarterly installments over four years from April 1, 2018, subject to continued service with us. And, with respect to 2,862 of the total RSAs, 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us.
(7) With respect to 1,527 of the total RSAs, one-sixteenth of RSAs vest in 16 equal quarterly installments over four years from April 1, 2018, subject to continued service with us. And, with respect to 3,435 of the total RSAs, 2.5% of RSAs vest in four equal quarterly installments over one year from April 1, 2018, and 7.5% RSUs vest in 12 quarterly installments over three years from April 1, 2019, subject to continued service with us.
Mr. Dorsey did not receive any equity awards in 2018 at his request, and because our compensation committee believed that his existing equity ownership position sufficiently aligned his interests with those of our stockholders.
Table:
Named Executive Officer | Number of Securities Underlying Options(#) | RSUs or RSAs (#) | Fair Value ($)
Ms. Friar (1) | 109,026 (2) | 38,159 (3) | 3,479,299
Ms. Henry | 109,026 (2) | 38,159 (3) | 3,479,299
Ms. Reses | 109,026 (2) | 38,159 (3) | 3,479,299
Ms. Whiteley | 47,699 (2) | 28,479 (4) | 2,339,553
Mr. Daswani (5) | - | 4,198 (6) | 187,861
Mr. Murphy (5) | - | 4,962 (7) | 222,050


Question: Why didn’t Mr. Dorsey receive any equity awards in 2018?
Answer: Because our compensation committee believed that his existing equity ownership position sufficiently aligned his interests with those of our stockholders.