19-179 19-179 . . . Employee Stock Purchase Plan under which each employee of corporation and its wholly-owned direct or indirect, domestic and foreign subsidiaries that have authorized participation in Plan (Participating Company) can contribute up to 15% of earnings through payroll deductions and Participating Company contributes a cash amount equal to 5% of participant's payroll deductions for first year of participation, additional 7% for second year, additional 10% for third year, additional 13% for fourth year and additional 15% for fifth year. Custodian of plan purchases shares of common stock on open market or from corporation at current market prices, using payroll deductions and applicable matching Company contributions
Vermont Amended and Restated Employee Stock Purchase Plan
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FAQ
If you were granted stock options and have already exercised some or all of those vested options before your departure, you already own those shares?your company usually can't claim or repurchase them when you leave. However, you may want to check your grant to be sure.
ESPP Offering Periods and Purchase Periods ESPPs usually have 3- to 24-month offering periods. This is the period of time during which cash contributions are made to the plan via payroll deductions. The first day of the offering period is known as the offering date.
Yes. The payroll deductions you have set aside for an ESPP are yours if you have not yet used them to purchase stock. You will need to notify your plan administrator and fill out any paperwork required to make a withdrawal. If you have already purchased stock, you will need to sell your shares.
If you leave or terminate from the company, you will cease to participate in the ESPP and your contributions will be refunded as soon as administratively possible.
If you stop contributing during the offering period, you will need to re-enroll during a future enrollment period to participate in the Plan. Q: Can I withdraw from participating in the ESPP at any time? A: Yes. You may withdraw from the ESPP by notifying Fidelity and completing a withdrawal election.