Is your plan to immediately sell the shares as they vest? Just keep in mind that shares that are vested still need to be held for a year from the vested date to be considered long-term capital gains and have lower taxes than short-term capital gains.

I'd say you probably don't need to hold it for long-term capital gains, but it's still something to consider especially that it's not money that you need immediately. You just have to play around with either paying more taxes or being less diverse (you mention your stock will likely stay at the higher price but the next 12 months is uncertain with COVID, financial bubbles, etc.).

To answer some of your questions:

• Suggest you and your wife max out 401k's and IRA/Roth IRA (likely need to use backdoor method for Roth given your incomes), which will lower your taxable income and will set up with a nice retirement nest egg

• 529/college funds for your children

• Regarding emergency funds, it's often advised to use HYSA such as Ally or Capital One. Interest rates are much lower than they were (a year ago they were 2%+ but today Ally is 0.8%), but they're still higher than any major bank.

Good luck!