wetherspoons free shares

ceewash

Has anyone else received free shares as an employee of Wetherspoons? Is it correct that you lose the shares when you leave the company? Found this out a bit too late for DS, I think.

PeacefulWaters

These schemes usually have a three year or five year rule where leaving the company means loss of the shares.

Redundancy and retirement would be exceptions.

ceewash

Can you please explain the "three year or five year rule"?

EarthBoy

You don't get the shares straightaway, you save up for them in a regular savings scheme for either 3 or 5 years, depending on the scheme. At the end of the 3 or 5 years you buy shares with the money you've saved, at the price they were when you started saving, 3 or 5 years previously. If the shares have dropped in price and aren't worth buying you can just take the money instead.

If you leave the company before the 3 or 5 years are up, you usually lose the option to buy the shares, and just get your money back, but there are exceptions, like PeacefulWaters says. If you've already finished the savings plan and bought the shares before you leave the company, you still keep them.

ceewash

Do you know if Wetherspoons uses this scheme?

p00hsticks

ceewash wrote: »

Do you know if Wetherspoons uses this scheme?

googling brought up this as a share purchase plan for Wetherspoons employees, but it also mentions a separate 'FreeShare plan' in the introduction

https://www-uk.computershare.com/webContent/doc.aspx?docId=%7BD9221BF6-62B6-4959-82CC-FCCB364F0AAD%7D&cc=UK&lang=en&bhjs=1&fla=1&theme=cpu

ceewash

Yes thanks I saw that but cannot find any details about the freeshare plan.

PeacefulWaters

ceewash wrote: »

Can you please explain the "three year or five year rule"?

Tax free if sold after five years.

Taxable if sold between three and five years.

Unable to sell within the first three years and forfeited on exiting the firm.

https://www.gov.uk/tax-employee-share-schemes/share-incentive-plans-sips

ceewash

Looks like you were right. Just heard back from them.
2 years employment to qualify for free shares and they can only be sold after 5 years if you still work there. So 7 years at Spoons!! You deserve the free shares.