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Dear Share in Success Plan Participant,
Tuesday 3rd September was a significant day for all of us. Since the announcements many of you have no doubt been wondering how this will impact your involvement in the Share in Success Plan. We wanted to take this opportunity to provide some clarity whilst also updating you on the 20 ‘Free Shares’ delivery that you are now eligible to receive having completed the first 3 monthly purchases.
Our records show that you have been active in the Plan over the first 3 share purchases, therefore we are pleased to confirm that these shares have now been successfully delivered to your plan account and are available for you to view and manage as soon as you wish.
Key things you need to know about your ‘Free Shares’
There are 3 choices now open to you regarding your ‘Free Shares’, either of which can be made at any time:
· Hold them – The shares are held in your plan account, at no cost to you, and can remain there. Please note though, these shares are not subject to the 1 for 2 share matching at the end of the Plan.
· Sell them – If you decide to sell your shares, fees will be incurred. Please contact your share plan provider for more information (EAM for Fi-ish Nationals / Mor-an S-nley for all other nationalities).
· Transfer them – The shares can be transferred to another brokerage account. However, you may incur transfer charges from your share plan provider and the bank that receives the shares.
Please note that the applicable local legislation may impose special reporting or other requirements regarding the recent settlement of shares to your account. Please see the Share in Success intranet site for country specific information that may be applicable to your share delivery.
Taxes Implications
For the majority of countries, for the delivery of the 20 free shares, taxes will apply. The shares that have settled to your plan account have been delivered GROSS, and any corresponding taxes will be deducted from your October 2013 salary. If the amount for the tax exceeds 10% of your monthly base salary, the deduction will be split into two (2) or more months until the whole amount for tax will be covered. Actual tax rates will be used in determining the tax impact of the 20 free shares. For some countries, where withholding is not permitted, the tax liability will need to be settled through the tax return process. For more information please refer to the tax guidance provided on the Share in Success intranet site.
Implications arising from the 3rd September announcements
What happens between now and the time of transfer
In the short term it is business as usual. There are no changes being imposed on the plan or your ability to participate. For as long as you wish to continue having salary deductions, you will continue to be included in the corresponding monthly share purchases.
Can I continue in the ‘Share in Success’ plan if I am transferring to Microsoft?
In order to participate in Share in Success, employees need to be set up in Nokia payroll so that their contributions can be deducted. In practice, this means that your participation in Share in Success will end upon the transfer, since Microsoft employees are not eligible to participate in the Plan.
What about my ‘Matching Shares’?
You will be eligible to receive the value of the matching shares on a pro-rata basis (cash payment at the time of the divestment). The shares you have purchased are yours to keep, sell or transfer as you wish. More details of this cash payment will be made available nearer the time of payment. For more information, please visit the Share in Success intranet site.
Regards,
Global E-qui-ty TeamI
2013年11月01日 10点11分
1
Tuesday 3rd September was a significant day for all of us. Since the announcements many of you have no doubt been wondering how this will impact your involvement in the Share in Success Plan. We wanted to take this opportunity to provide some clarity whilst also updating you on the 20 ‘Free Shares’ delivery that you are now eligible to receive having completed the first 3 monthly purchases.
Our records show that you have been active in the Plan over the first 3 share purchases, therefore we are pleased to confirm that these shares have now been successfully delivered to your plan account and are available for you to view and manage as soon as you wish.
Key things you need to know about your ‘Free Shares’
There are 3 choices now open to you regarding your ‘Free Shares’, either of which can be made at any time:
· Hold them – The shares are held in your plan account, at no cost to you, and can remain there. Please note though, these shares are not subject to the 1 for 2 share matching at the end of the Plan.
· Sell them – If you decide to sell your shares, fees will be incurred. Please contact your share plan provider for more information (EAM for Fi-ish Nationals / Mor-an S-nley for all other nationalities).
· Transfer them – The shares can be transferred to another brokerage account. However, you may incur transfer charges from your share plan provider and the bank that receives the shares.
Please note that the applicable local legislation may impose special reporting or other requirements regarding the recent settlement of shares to your account. Please see the Share in Success intranet site for country specific information that may be applicable to your share delivery.
Taxes Implications
For the majority of countries, for the delivery of the 20 free shares, taxes will apply. The shares that have settled to your plan account have been delivered GROSS, and any corresponding taxes will be deducted from your October 2013 salary. If the amount for the tax exceeds 10% of your monthly base salary, the deduction will be split into two (2) or more months until the whole amount for tax will be covered. Actual tax rates will be used in determining the tax impact of the 20 free shares. For some countries, where withholding is not permitted, the tax liability will need to be settled through the tax return process. For more information please refer to the tax guidance provided on the Share in Success intranet site.
Implications arising from the 3rd September announcements
What happens between now and the time of transfer
In the short term it is business as usual. There are no changes being imposed on the plan or your ability to participate. For as long as you wish to continue having salary deductions, you will continue to be included in the corresponding monthly share purchases.
Can I continue in the ‘Share in Success’ plan if I am transferring to Microsoft?
In order to participate in Share in Success, employees need to be set up in Nokia payroll so that their contributions can be deducted. In practice, this means that your participation in Share in Success will end upon the transfer, since Microsoft employees are not eligible to participate in the Plan.
What about my ‘Matching Shares’?
You will be eligible to receive the value of the matching shares on a pro-rata basis (cash payment at the time of the divestment). The shares you have purchased are yours to keep, sell or transfer as you wish. More details of this cash payment will be made available nearer the time of payment. For more information, please visit the Share in Success intranet site.
Regards,
Global E-qui-ty TeamI