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
Oregon Amended and Restated Employee Stock Purchase Plan
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FAQ
If your company offers a tax-qualified ESPP and you decide to participate, the IRS will only allow you to purchase a maximum of $25,000 worth of stock in a calendar year. Any contributions that exceed this amount are refunded back to you by your company.
With qualified Section 423 employee stock purchase plans, you are not taxed at the time the shares are purchased, only when you sell. Depending on whether the shares were held for the required holding period, a portion of your gain may be taxed as capital gains or as ordinary income.
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 worked for a pre-IPO startup and earned incentive stock options (ISOs) or non-qualified stock options (NSOs), you have a limited amount of time ? in many cases, just 90 days after getting laid off ? to decide whether you want to buy your stock options or forfeit them back to the company.
Yes, you can sell stock purchased through your ESPP plan immediately if you want to guarantee that you profit from your discount. Otherwise, the value of the stock may go up, which increases your profit, or it may go down, causing you to lose money.
Unfortunately, in most cases, if you're laid off and your stocks are still unvested, you'll likely lose them. They will revert to the company, and you'll receive no benefit from them.
An offering period is the six months period of time you are contributing for a stock purchase. The first payroll deduction (at the beginning of the first offering period) will be included in the first paycheck of July each year.
If you're participating in an ESPP and are laid off, you should, once again, immediately review the specifics of your plan. The stock you've already purchased is still yours to keep, and any money contributed to the plan but not yet used to buy the stock is refunded to you.