The Republic Services Employee Stock Purchase Plan (or ESPP) allows eligible employees to acquire shares of Republic common stock through employee payroll contributions at a 5% discount from the current market price.
We sat down with Miki M., senior manager of Total Rewards within Republic’s Benefits department, for more information about the company’s ESPP. Here’s a Q&A from that discussion.
When am I able to participate in the ESPP?
You are eligible to participate in the ESPP if you have been an employee for at least 90 days (rehired employees who previously completed at least 90 days of employment are eligible on their rehire date). Once you are eligible to participate in the ESPP, you may enroll in the ESPP with respect to any open offering period, beginning on or after the date you first become eligible to participate in the ESPP program.
How do I enroll?
Once eligible, you can enroll on the Merrill Lynch (ML) website at www.benefits.ml.com or by calling Merrill Lynch at 1-855-560-5093.
How much of my pay can I contribute?
During the offer period you may authorize payroll contributions made on each pay day (you cannot exceed more than 15% of your compensation). Compensation includes wages, salary, bonus and overtime earnings. Please reference the ML guide for specific annual purchase limits.
When will my contributions begin?
Payroll contributions will begin on the first day of the offering period and accumulate during the quarter. At the end of the quarter they are transmitted to ML to make the purchase. Any contributions in excess of the purchase amount will be refunded on the payroll following the purchase. Offering periods & Enrollment windows for 2021:
Offering 01/01/2021 to 03/31/2021 - Enrollment 10/01/2020 to 12/19/2020
Offering 04/01/2021 to 06/30/2021 - Enrollment 01/01/2021 to 03/13/2021
Offering 07/01/2021 to 09/30/2021 - Enrollment 04/01/2021 to 06/19/2021
Offering 10/01/2021 to 12/31/2021 - Enrollment 07/01/2021 to 09/11/2021
Offering 01/01/2022 to 03/31/2022 - Enrollment 10/01/2021 to 12/18/2021
Can I change, cancel or restart my contributions?
Yes, you may increase, decrease, cancel or restart your payroll contributions at any time during the offering period via ML. If you withdraw from the offering, your accumulated payroll contributions will be used for the quarterly purchase and any contributions in excess of the purchase amount will be refunded on the payroll following the purchase
What happens if I leave Republic?
If you leave the company, your accumulated payroll contributions will be used for the quarterly purchase on the next exercise date immediately following your departure from Republic. Any contributions in excess of the purchase amount will be refunded on the payroll following the purchase. Again, I recommend you reference the ML guide for specifics on selling your shares.
Thank you, Mike for explaining the ESPP program! For additional information, visit:
- Republic’s Benefits SharePoint site
- Republic’s Investor Relations site
- Merrill Lynch (or call 855-560-5093)
- Securities and Exchange Commission