20-171D 20-171D . . . Restricted Stock Plan under which a committee of Board of Directors sells shares of common stock to certain officers and senior employees at a price substantially below current market price. The shares are subject to following restrictions: (a) prohibition against any sale or other transfer and (b) obligation that participant (at corporation's option) must resell shares to corporation at price he paid for them if he ceases to be employed by corporation prior to expiration of from five to nine years after shares were sold to him, for reasons other than normal retirement, death, total disability or early retirement with consent of Board or committee. Except as otherwise provided, restrictions lapse as to 1/5 of aggregate number of participant's shares at expiration or each of fifth through ninth years after his purchase of such shares
Massachusetts Restricted Stock Plan of Sundstrand Corp.
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FAQ
Usually, you'll lose all the RSUs that have not yet vested at the time of your resignation. They'll be forfeited back to the company, and you'll walk away with nothing for those unvested units.
Key Points: Generally speaking, when your RSUs vest, you gain full rights and ownership to the value of the units. To cover the income tax need, you may do a net exercise, cashless exercise, or cash exercise. ... After your RSUs vest, you need to decide whether to keep the shares or sell them.
RSUs are not taxable when they are granted. The first time that they are exposed to tax is upon vesting, at which time both income tax and NIC are due. Employers will usually deal with this under PAYE and so, if you are the recipient of some RSUs, initially there is nothing you need to do to make that happen.
RSUs and Taxes The withholding will include federal income tax, state and local taxes, if applicable, and taxes for Social Security and Medicare. Employees who keep their shares and subsequently receive dividend payments must pay ordinary income tax on the dividend amounts.
At their core, RSUs are retention tools publicly traded companies use to attract and keep their top talent. As an employee, you are awarded a certain number of shares of company stock after meeting specific requirements. Once these conditions are met, your shares become vested, and you are then the owner of them.
While selling your RSU holdings, you pay tax only on the profit made and not the entire value of the shares. This also helps in avoiding double taxation.
Some investors opt to sell their RSUs right away, before they have an opportunity to gain or lose value. It is a savvy way to minimize these capital gains taxes and avoid RSUs being taxed twice.
Unlike other forms of equity compensation, RSUs are taxed at the time of vesting, rather than when they are awarded. This means that you will owe taxes on the value of the RSUs at the time they vest, even if you don't sell them immediately.