Leaving Royal Mail and shares.

[RoyalSlave69]

I plan to leave Royal Mail at the end of September this year. Does this mean I won't be entitled to my shares? I think October this year is the date we are allowed to keep or sell them.

[POSTMAN]

http://www.royalmailchat.co.uk/communit ... 38&t=68691" onclick="window.open(this.href);return false;

[villan]

I plan to leave Royal Mail at the end of September this year. Does this mean I won't be entitled to my shares? I think October this year is the date we are allowed to keep or sell them.

No. The flotation was in October 2013 and you must wait three years from that date before you can sell them. So we're looking at October 2016.

[karchun]

I can see an upcoming gap in RM come October 2016

[Darren Bent]

I think more likely April 2017 after 2nd batch ;)

[Timelord]

Do you get to keep your shares if you resign because of a disability or only if RM give you IHR ?

[TrueBlueTerrier]

Do you get to keep your shares if you resign because of a disability or only if RM give you IHR ?

AFAIAK If you resign then as far as RM (or anyone else) are concerned then its a simple resignation, they aren't bothered by the reasons behind it. So no you wouldn't keep your shares in that situation.

If you have a disability that's affecting your job then I highly recommend get the Equalities officer at your branch involved and try to get IHR started.

[Timelord]

Thanks True Blue, thing is, at the moment I can manage to do the job, but every day is an awful struggle and because I can push myself to keep going I don't feel I can go sick, but I suffer after work. Its getting to the point that I feel I have to leave. Thanks again for the reply.

[prman]

I'm leaving the business on negotiated terms (not vr) do I get to keep the shares

[swindonandy]

I'm leaving the business on negotiated terms (not vr) do I get to keep the shares

Probably depends on what you negotiated...

[TrueBlueTerrier]

I'm leaving the business on negotiated terms (not vr) do I get to keep the shares

As has been said it depends on the reason for leaving:

IHR or retirement - yes you get to keep or sell the shares.

A jump before being pushed, probably not as that would be seen as a resigination.

[Darren Bent]

so who in Royal Mail decide if you can keep them or not if you leave as a good leaver.

[TrueBlueTerrier]

so who in Royal Mail decide if you can keep them or not if you leave as a good leaver.

As a good leaver you already get to keep them, but to be a good leaver you either retire or are made redundant. There is no other type of good leaver in relation to shares.

[dave0876]

Think that could be argued in a court of law at the end of the day you resign and work your required notice period in my eyes that is a good leaver.And also who is getting all these shares from people who resign or are fired.

[TrueBlueTerrier]

Think that could be argued in a court of law at the end of the day you resign and work your required notice period in my eyes that is a good leaver.And also who is getting all these shares from people who resign or are fired.

I doubt it a good leaver has already been defined in the prospectus and a law site suggests:

http://www.turbervilles.co.uk/blog/good ... t-matters/" onclick="window.open(this.href);return false;

It is often the case that the definition of Good leaver in shareholder agreements will include an employee and shareholder of a company who:

dies, or
becomes incapacitated through physical or mental illness; or
is made redundant; or
voluntarily retires from employment after a pre-agreed period of time;
In the first 3 examples this is an involuntary event that brings an end to their contract of employment and triggers a Good Leaver event. Sometimes provision is made for the directors to exercise their discretion to declare a leaver to be a Good leaver and so provides flexibility.

Having defined what constitutes a Good leaver it is often the case that any other event of departure from the company is a Bad Leaver event and this makes sure all events are covered between the 2 definitions so a Bad leaver event might include:

leaving voluntarily (other than retiring) to work elsewhere before expiry of a pre-agreed period of time; or
dismissal for gross misconduct or
dismissal which is not constructive or unfair
In many cases such triggering events are extended and can involve very complex drafting to accommodate what the parties are prepared to agree. Whatever is agreed, it is very important that the drafting is clear and unambiguous in order to avoid any dispute over interpretation. As you can imagine this can be, and often is, a fairly contentious area that requires great care and proper legal advice.

The government's own definition in https://www.gov.uk/government/uploads/s ... shares.pdf" onclick="window.open(this.href);return false; is:

The following rules will therefore apply to the scheme to promote its
longevity, enable employees to benefit from those tax advantages, and
to strengthen employee engagement:

 shares must be held for at least three years. Full tax benefits
are only available if the shares are held for at least five years or
for ‘good leavers’;

 shares will be forfeited if an employee leaves Royal Mail within
three years of their award. This will not apply to ‘good leavers’
whose shares will vest and benefit from tax advantages upon
departure;

 shares will be allocated to employees equally, regardless of
grade or pay levels. The allocation will be pro-rated based on an
employee’s typical hours to differentiate between full and part
time workers; and

 to be eligible for shares, employees will be subject to a
qualifying period of employment.


5. Good leavers include those retiring (as defined by Royal Mail and the scheme rules),
redundancy, disability or illness, and death.