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SIP Share scheme. Good leaver status
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[Deleted User]
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Posting here as couldn't find a more appropriate heading to put it under. Please advise if there is a more appropriate place.
I am likely to have my employment terminated soon due to an ongoing disability (following capability assessment). As such I will have 'Good leaver' status.
I am part of the companies share incentive plan and currently have about 17k worth of shares.
Normally I cannot sell any shares allocated to me until they reach a 3 year vesting date.
If I was a bad leaver eg going to another employer I would forfeit these.
Can anyone advise me what happens to my shares if I am leaving as a good leaver due to disability? Also what are the tax implications?
Thanks
I am likely to have my employment terminated soon due to an ongoing disability (following capability assessment). As such I will have 'Good leaver' status.
I am part of the companies share incentive plan and currently have about 17k worth of shares.
Normally I cannot sell any shares allocated to me until they reach a 3 year vesting date.
If I was a bad leaver eg going to another employer I would forfeit these.
Can anyone advise me what happens to my shares if I am leaving as a good leaver due to disability? Also what are the tax implications?
Thanks
0
Comments
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Your scheme rules should tell you. In my scheme shares that were allocated to you for free were lost if you left unless it was by redundancy or retirement and the shares would sold. If these are shares you have bought as part of a save as you earn plan then they are yours but if the scheme has not reached its maturity date then you will get back the money you have paid in.
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