What are RSUs and how do they work?

At my current employer, I receive RSUs (restricted stock units) as a form of bonus. I have received a RSU package as a signing bonus and also my annual bonus is paid in RSUs. So, I needed to learn how these assets work.

Investopedia says:

A restricted stock unit (RSU) is an award of stock shares, usually given as a form of employee compensation. The recipient must meet certain conditions before the restricted stock units are transferred to the owner.

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