Last Chance to Enroll in the Employee Stock Purchase Plan

by Ashley Rhodes 11. December 2019 13:42

There are only a few days left to enroll in the new Employee Stock Purchase Plan (ESPP). Now until 11:59 pm EST on Sunday, December 15, any U.S. Xpress employee who’s been with the company for at least 12 months can purchase U.S. Xpress stock at a 15% discount, or previous enrollee can make changes to their current contribution.

This discount is both higher than many of our competitor trucking companies and the highest allowable by the Securities and Exchange Commission (SEC). 

Here’s How it Works:

Each year, there will be two enrollment periods (December 1-15 and June 1-15) during which you can sign up for the ESPP and determine what percentage of your compensation you want to allocate to purchasing U.S. Xpress stock.

After that, there are six-month “funding periods” during which time your pre-determined allocation will be withheld from your paycheck. At the end of each funding period, the Company will use funds that have been deducted from your paycheck to purchase shares at a 15% discount off the stock price on either the first day of the funding period or on the last day of the funding period, whichever is lower.

So, for example, if you enroll in December 2019 and the stock is trading at $5 per share on the first day of the funding period (January 1, 2020) and trading at $10 per share on the last day of the funding period (June 30, 2020), the money that’s been withheld during that six-month period would be used to buy stock at 15% off the lower of the two prices, or $4.25 ($5/share less 15% discount). Although you will need to hold the shares for one year prior to selling or transferring them, it is hard to beat a 15% discount on the lower of two prices.

Have You Signed Up Previously for the ESPP?

If you plan to keep the same contribution you set during your previous enrollment, you do not need to do anything.

However, if you would like to increase, decrease or suspend your contribution, you do need to log into your account by clicking here (no activation code needed) and changing or suspending the percentage you initially allocated toward purchasing U.S. Xpress stock.

New to the ESPP? Follow these Three Simple Steps to Sign Up:

1.    Decide what percentage of your compensation you’d like to allocate for purchasing stock at a 15% discount. You may contribute anywhere from 1% of your compensation to 15% of your compensation, but not more than $25,000 over the course of a year ($12,500 for each 6-month period. IRS rules).

2.    Be on the lookout for an email and/or snail mail that will include a 12-digit account activation code that’s been generated just for you. You’ll use that code to activate an online account that will allow you to enroll in the ESPP.

3.    Activate your online account by visiting https://usxpress.solium.com to access the ESPP website called Shareworks.

·         The first time you visit Shareworks, you’ll want to click “Open Account” in the top right hand corner of the web page and use your 12-digit activation code to get started.

·         Follow the prompts to activate your account, determine a password and enroll in the ESPP. Make sure to take this step during one of the two annual enrollment periods: December 1-15 or June 1-15.

·         If for some reason you don’t receive your activation code via mail or email, just give Shareworks a call at 1.877.380.7793 and they’ll give you your activation code.

Visit www.USXpressway.com for more detailed information, including a handy graphic that explains the process.

See below or contact the HR Service Center at hrservices@usxpress.com or 1-844-USXPRESS (Option #7)

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TOT | USX

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