Locked-in shares are shares that have not been held for the relevant holding period and so cannot be sold or transferred. The Locked-in shares may or may not be subject to forfeiture dependent on the type of shares that they are and the length of time they have been held. Please refer to your plan brochure for further details on holding periods and forfeiture.
Conditional shares are no longer subject to any holding periods so can be sold or transferred. However, if the shares are taken out of the plan you may have to pay income tax and National Insurance Contributions on their value.
Available shares are no longer subject any holding periods and if taken out of the plan are not subject to income tax and National Insurance Contributions on their value.
On the SIP enquiry screens under ‘Status’ these share categories are abbreviated to:
- L = Locked-in
- C = Conditional
- A = Available
The Award Price is the share price at which your shares were awarded to you. The Award Value is calculated by multiplying the number of shares awarded to you by the Award Price. Please click here to view your plan holding.
You can obtain general information about the Share Incentive Plan from these Questions and Answers. If your company has launched a plan, there will be further specific information in the plan brochure. If your company has launched a plan which has an accumulation period it will be important to read the plan brochure as these Questions and Answers may not address the specific features of your company's plan. If you need any further help you can call the helpline. Lines are open from 8.30am to 5.30pm, Monday to Friday excluding bank holidays.
If you are posted abroad, to work for the same company or a member company of the group, shares you already have can stay in the plan. However, whilst you continue to work abroad you will no longer be able to make further Partnership contributions unless your pay is still subject to income tax under the UK pay-as-you-earn scheme.
The shares can remain in the plan provided you continue to be employed by the company.
Equiniti Share Plan Trustees Limited act as Trustee for the plan and holds your shares on your behalf until you choose to withdraw the shares from the plan or leave employment. Equiniti Limited is the Plan Administrator.
If you need to contact the Plan Administrator, their details are:
Plan Administrator
Equiniti Limited
Aspect House
Spencer Road
Lancing
West Sussex
BN99 6DA
Yes, there are likely to be some differences and you should read your plan brochure. For example, your dividend may be paid in a different currency and an exchange rate will be used to show the sterling amount. There may be local withholding taxes deducted from the dividends. There may also be restrictions on who can hold your shares when they are withdrawn from the plan.
Any money left over from your Partnership contribution which was not enough to buy a whole share money is known as Partnership residue. This money is usually carried forward to buy shares in the next period (usually the following month unless there is an accumulation period). Some companies may decide to return the Partnership residue to you via your payroll - if this is the case it will be explained in your plan documentation. If you leave employment or the plan is terminated this will be returned to you via your payroll.