VESTING

verb

1. To clothe with, or as with, a vestment, or garment; to dress; to robe; to cover, surround, or encompass closely.
2. To clothe with authority, power, etc.; to put in possession; to invest; to furnish; to endow; followed by with and the thing conferred.
3. To place or give into the possession or discretion of some person or authority; to commit to another; with in before the possessor.

noun

1. The entitlement of an employee to receive the full benefit of a pension at normal retirement age or a reduced pension upon early retirement even upon change of employer before retirement.
2. The entitlement of an employee to exercise a stock option after a predetermined period of time.
3. Cloth for making vests.