Page 19 - 2020 Stein Mart Benefits Guide - Weekly
P. 19
EMPLOYEE STOCK PURCHASE PLAN (ESPP)
Stein Mart offers an employee stock purchase plan (ESPP) through Fidelity Investments.
Through this plan, you may purchase company stock at a discounted price.
How Does the ESPP Work?
You can elect between 1-10% of your eligible compensation into the plan. After enrollment, the money is
automatically deducted on an after-tax basis through payroll deductions.
The funds build up between the offering date and the purchase date. On the purchase date, Fidelity
automatically purchases as many shares as the plan permits with the accumulated funds in your account.
Once you purchase shares, they are deposited and held in your Fidelity account.
You can keep or sell the purchased company stock at any time; however shares purchased must be held for
one year from the purchase date before they can be sold without a tax penalty.
All brokerage fees and service charges are paid by the company. The option price is 15% off the fair market
value (FMV) of the Stein Mart stock price at the beginning or end of an offering period.
Eligibility
You are eligible to join if you meet the following criteria.
You are eligible to enroll during the first enrollment window after six months (and at least 500 hours) of
continuous employment
Enrollment takes place around Thanksgiving and Memorial Day each year for purchase dates of June 30
and December 31
You customarily work more than 20 hours per week
Selling
When you sell the shares, the difference between
what your tax basis and your sale price is a capital
gain (or loss) and taxed accordingly. Please consult
with your tax advisor regarding your specific tax
situation.
Enrollment
Contact Fidelity Investments at 800.544.9354, for
complete plan information or to enroll in the plan.
Weekly Store and Weekly Corporate Associates 18
Department Merchandise Managers For 2020 Benefits
Stein Mart offers an employee stock purchase plan (ESPP) through Fidelity Investments.
Through this plan, you may purchase company stock at a discounted price.
How Does the ESPP Work?
You can elect between 1-10% of your eligible compensation into the plan. After enrollment, the money is
automatically deducted on an after-tax basis through payroll deductions.
The funds build up between the offering date and the purchase date. On the purchase date, Fidelity
automatically purchases as many shares as the plan permits with the accumulated funds in your account.
Once you purchase shares, they are deposited and held in your Fidelity account.
You can keep or sell the purchased company stock at any time; however shares purchased must be held for
one year from the purchase date before they can be sold without a tax penalty.
All brokerage fees and service charges are paid by the company. The option price is 15% off the fair market
value (FMV) of the Stein Mart stock price at the beginning or end of an offering period.
Eligibility
You are eligible to join if you meet the following criteria.
You are eligible to enroll during the first enrollment window after six months (and at least 500 hours) of
continuous employment
Enrollment takes place around Thanksgiving and Memorial Day each year for purchase dates of June 30
and December 31
You customarily work more than 20 hours per week
Selling
When you sell the shares, the difference between
what your tax basis and your sale price is a capital
gain (or loss) and taxed accordingly. Please consult
with your tax advisor regarding your specific tax
situation.
Enrollment
Contact Fidelity Investments at 800.544.9354, for
complete plan information or to enroll in the plan.
Weekly Store and Weekly Corporate Associates 18
Department Merchandise Managers For 2020 Benefits
