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Financial : Shares FAQ
Q. What happens to my 1-4-1 shares?
A.
Regardless of the circumstances in which you leave P&G, you will no
longer be eligible to make contributions to the 1-4-1 Plan.
All
the shares and any of your contributions and dividend funds still held
in cash on your behalf must be withdrawn from the plan.Any residual
cash balance that has not been used to purchase shares will
automatically be refunded to you once the relevant income tax and NIC
liabilities have been deducted.
(Regardless of the circumstances
in which you leave P&G, you will not forfeit any matching shares
purchased using the company matching contribution.)
If you leave
P&G in special circumstances (for example retirement), there will
be no income tax or national insurance contribution liability on your
shares. The company will notify the trustees that you have left P&G
within 14 days after your employment ceases.
Capita Share Plan
Services will then write to you at your home address requesting you
confirm which of the following actions you wish them to take:
" Sell all shares and send the proceeds.
" Transfer all shares into your own name (for which you
will receive a certificate).
"
Transfer shares into the Share Investment Scheme. If you opt for this,
you will be liable for Capital Gains Tax which will be based on the
difference between the market value of your shares on the date you left
P&G and the sale proceeds when you eventually sell the shares. (You
are recommended to take independent financial advice with regard to
your potential liability for Capital Gains Tax).
Q. What happens to my Matched Savings Share Purchase Plan shares?
A. Each
share must be held in the MSSPP trust until it reaches its 5 year
maturity date. At this point you can request the sale or transfer of
your shareholding. If you do not wish to sell your shareholding at the
maturity date, you can request they be transferred to the Share
Investment Scheme (and can be held ongoing). Upon reaching age 60, the
holding period for all your shares will end. This means you can sell
them or withdraw them straight away. However, if you choose to sell or
transfer any matching shares (purchased using the company contribution)
within 3 years of the date they were allocated to you, you will have to
pay income tax on 50% of the value of the matching shares when they
were allocated to you or the sale proceeds if less.(Regardless of the
circumstances in which you leave P&G, you will not forfeit any
matching shares purchased using the company matching contribution.)
Q. What happens to my Future Shares?
A. If
you leave P&G in special circumstances (for example retirement),
you continue to keep your Future Shares. All the normal Future Shares
rules continue to apply. You will need to wait to exercise your Future
Shares until the vesting period is over (see chart below) and you need
to exercise during the stated exercise period.
|
Grant Date |
Grant Price |
Date of Exercise |
Date Option Lapses |
|
15.05.1998 |
$82.75 |
15.05.2003 |
14.05.2008 |
|
14.05.1999 |
$91.5625 |
14.05.2004 |
13.05.2009 |
|
15.05.2000 |
$64.2813 |
15.05.2005 |
14.05.2010 |
|
15.09.2000 |
$62.50 |
15.09.2005 |
14.09.2010 |
|
24.09.2001 |
$69.67 |
24.09.2006 |
23.09.2011 |
|
13.09.2002 |
$91.325 |
13.09.2007 |
12.09.2012 |
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