Royal Mail shares for employees.

[cactusstan]

Having received my "Guide to the Royal Mail Employment share offers", i could'nt understand why we were given an "opt out form".Surely if there were no conditions attached to the free shares why put in an opt out form,after all who would turn down free shares worth £2,000 ?.Can anyone enlighten me?

[Shambles]

Having received my "Guide to the Royal Mail Employment share offers", i could'nt understand why we were given an "opt out form".Surely if there were no conditions attached to the free shares why put in an opt out form,after all who would turn down free shares worth £2,000 ?.Can anyone enlighten me?

They 'Management' are trying to be cute....Gaging who is opting out, prior to ballot to see if they have a leg to stand on

Shame they are dealing with intelligent capable people

I could be wrong tho....

[Robbo318]

Exactly what I said, hmmm?

[Shambles]

Or....to gage how many casuals they will need to fill our boots, when we March!

[UnhappyGremlin]

I think it is basically a legal requirement of the process.
You can't force people to accept shares.

Though I do believe RM will use it as an indication of strike possibility.
Though as a measurement it's irrelevant. Just because people don't opt out, doesn't mean they agree.
It's more like, IF it's going to happen, we may as well get something out of it.

[Poshpost]

First of all we will not be given the shares on the
date of flotation, shares will be placed in a Share Incentive Plan
(SIP). If you resign or are dismissed from Royal Fail within three
years of the flotation you will lose the shares. If you resign or are
dismissed from Royal Fail between three and five years after flotation
the shares will be removed from the SIP and you will have to pay the
Income Tax and National Insurance due on the value of shares. Only after five years following flotation
can the shares be free without any loss or reduction of Income Tax and
National Insurance. So, to get your hands on the "free shares" you
would have to stay employed by Royal Fail until at least November 2016
to avoid losing them OR November 2018 to avoid Income Tax and
National Insurance.

[Sergeant Blast]

First of all we will not be given the shares on the
date of flotation, shares will be placed in a Share Incentive Plan
(SIP). If you resign or are dismissed from Royal Fail within three
years of the flotation you will lose the shares. If you resign or are
dismissed from Royal Fail between three and five years after flotation
the shares will be removed from the SIP and you will have to pay the
Income Tax and National Insurance due on the value of shares. Only after five years following flotation
can the shares be free without any loss or reduction of Income Tax and
National Insurance. So, to get your hands on the "free shares" you
would have to stay employed by Royal Fail until at least November 2016
to avoid losing them OR November 2018 to avoid Income Tax and
National Insurance.

Yep yet again more strings hidden below the propaganda headlines. So we are effectively handcuffed to this company for a least 3 years to gain any benefit.

[teesdale]

I suppose if you were thinking of resigning or being forced into it, or believed you were near to dismissal after 2018, you would have to rush to sell your shares to at least take something away before they contacted equiniti. Imagine being on the staff at Equiniti and some idiot shift manager phones up to say freeze his shares we've just dismissed him for being on Stage 3.

[coolasluck]

It seems that if you want out of royal mail anyway like i do after 15 years then to get my shares i would need to be made redundant which would suit me,but what is the likelyhood of that and how long?
If you want to leave within the next year or 2 then these shares are no more real than colleague shares.
What we really need is for our union to demand that these shares are given to employees unconditionally.
Are you listening CWU?????????????????

[fishtank]

What we really need is for our union to demand that these shares are given to employees unconditionally.
Are you listening CWU?????????????????

I think at the very least the union should be asking where these share taken from employees who are dismissed or resign will end up.

If they revert to company ownership then the question has to be asked as to whether this is incentivising dismissal and is this really the direction the company or the union wishes to go down.

Legally and morally it appears to be very dubious,If someone is dismissed through the attendance procedure they may have underlying health issues,If someone resigns because of family commitments like a terminally ill partner or even financial considerations is it right to take their shares from them?

If someone is sacked,goes to a tribunal and wins will they have their shares re-issued?
On the tribunal claim form there is a box to tick whether you would like reinstatement/re-engagement if you win your case.
Some people don't especially if they have been the victim of bullying and harassment or have found other employment.If they win their case but are not reinstated whether by their choice or the employer's unwillingness will they get their shares back?

It looks like a bit of a minefield to be honest.