Last Cal: Enroll in the Employee Stock Purchase Program June 1-15

by Miranda Brooks 15. June 2022 11:32

Get a 15% discount on U.S. Xpress Enterprises, Inc. (USX) stock and become an owner of the company through the Employee Stock Purchase Plan (ESPP). The window to enroll runs June 1-15, and we’re making it easy to own a piece of our business.

The program is open to everyone who has been with U.S. Xpress, Variant, Xpress Technologies, or Total Transportation for at least one year.

To enroll, first decide what percentage of your compensation you’d like to set aside to purchase USX stock at a 15% discount. You can contribute between 1% and 15% of your compensation, with a maximum of $25,000 going to the ESPP over the course of a year. This means up to $12,500 for each six-month period, in compliance with IRS regulations.

Then be on the lookout for an email that will include a 12-digit code generated just for you. You’ll use the code to activate an online account that will allow you to enroll in the ESPP. If you don’t receive your activation code, give Shareworks a call at 1-877-380-7793, and they’ll give it to you.

After you enroll, there are six-month “funding periods” when that pre-determined percentage is withheld from your gross pay. At the end of each funding period, the company uses the funds that have been deducted from your paycheck to purchase shares at a 15% discount based on the price on either the first or last day of the funding period, whichever is lower.

For example, if you enroll in June 2022 and the stock is trading at $5 per share on the first day of the funding period (July 1) and trading at $10 per share on the last day of the funding period (December 31), the money withheld during that six-month period would be used to buy stock at 15% off $5 per share. This means you would buy stock at $4.25 ($5 per share minus 15% discount). You must hold the shares for one year prior to selling or transferring them.

If you’re already enrolled and you plan to keep the same contribution you set during your previous enrollment, you don’t need to do anything.However, if you would like to increase, decrease, or pause your contribution, log into your account by clicking here (no activation code needed) and change or pause the percentage you initially selected. Changes made online in June will take effect in July.

 

If you have any questions, contact the HR Service Center at hrservices@usxpress.com or 1-844-USXPRESS (1-844-879-7737, option #7). You can review the U.S. Xpress ESPP policy on the Securities & Exchange Commission website.

Tags:

USX

Comments are closed

RecentComments

Comment RSS