shares allocation letter

[fishtank]

I suspect korky that any weeks where you worked over 39hrs would be capped at 39hrs when calculating the average so unless you have worked 39hrs or above every week including any annual leave weeks then it's likely every part-timer will have less than the full-time allocation.

[dvbuk55]

I suspect korky that any weeks where you worked over 39hrs would be capped at 39hrs when calculating the average so unless you have worked 39hrs or above every week including any annual leave weeks then it's likely every part-timer will have less than the full-time allocation.

I only got 390 odd and 72 next year and I couldn't give a crap,

[fishtank]

I couldn't give a crap,

Maybe it was just nerves.
Try eating some prunes.

[korky]

korky, this is from myroyalmail :

Helpline

If you have any questions about the Free Shares Offer or the Employee Priority Offer you can chat to a share scheme expert on our free helpline.

Call the Employee Share Offers Helpline on 0800 012 12 13. (Calls are free from BT landlines but other network providers may charge).

The helpline is open 8.30am to 5.30pm, Monday to Friday (excluding bank holidays).

Have you tried this number yet ?
They may be able to help.

I tried them but they don't have our personal details as in what we've worked over the said period
HR no good as they don't deal with the shares.
I'm 99.9% certain I've averaged more than 37.5
But discrepancies could be found as in 10/07 was a Wednesday so starts midweek
I did have a few basic weeks when I'd lost my dad but absolutely hammered it for quite few after inc at another D/O but I never kept note of what I did, just overall for the week.
Need to try to find those missing 2 to be certain

[korky]

I suspect korky that any weeks where you worked over 39hrs would be capped at 39hrs when calculating the average so unless you have worked 39hrs or above every week including any annual leave weeks then it's likely every part-timer will have less than the full-time allocation.

That may explain it? Have to check the figures out later, doesn't really explain it that way though?

[Pinky 1]

I suspect korky that any weeks where you worked over 39hrs would be capped at 39hrs when calculating the average so unless you have worked 39hrs or above every week including any annual leave weeks then it's likely every part-timer will have less than the full-time allocation.

That may explain it? Have to check the figures out later, doesn't really explain it that way though?

I think Fish is correct korky. The cap is 39 hrs per week, otherwise some overtime kings would have got as many shares as Moya

[Dorset Plodder]

ZZZZ

[Chelseablue]

Is there no bigger thoughts on our minds coming up ? Rather than shares that are 3 years away ,beggars belief !

[korky]

I suspect korky that any weeks where you worked over 39hrs would be capped at 39hrs when calculating the average so unless you have worked 39hrs or above every week including any annual leave weeks then it's likely every part-timer will have less than the full-time allocation.

That may explain it? Have to check the figures out later, doesn't really explain it that way though?

I think Fish is correct korky. The cap is 39 hrs per week, otherwise some overtime kings would have got as many shares as Moya

that looks it,
i had 4 weeks mid 30hrs and 9 at well over 39hrs 37.5 is about that if 39 is the max i can use.
all of us p't thought it went on total average hours worked over the 3 months,
we all knew the max allocation would be based on 39hrs regardless of o/t kings

but reading the t&c here? but they'll probably be another to contradict it!

"Where an employee is not a full-time employee, and is therefore a part-time
employee, the number of shares which he or she will be given will be calculated
by reference to hours worked (whether as contractual hours or overtime hours) for
which payment has been received in the measurement period (which runs from 10
July 2013 to a cut-off date no later than the date of the Free Share award which will
be notified to you as soon as it has been decided and can be publicly announced).
This number of hours will then be divided by the number of hours which a full-time
employee of the same or equivalent grade and earnings period would have been
contractually required to work in the measurement period. The resulting fraction
will then be applied to the number of shares which a full-time employee would be
given to produce the number of shares to which that part-time employee is entitled.
Shares will be rounded up to the nearest whole share. No part-time employee can
be given more shares than a full-time employee."

[Dorset Plodder]

Sounds pretty clear to me.

[korky]

Is there no bigger thoughts on our minds coming up ? Rather than shares that are 3 years away ,beggars belief !

??
thought this was a forum to ask for advice?
yes there is a more pressing agenda but its not the only one!
like it or not, the shares are here now, nobody has a crystal ball to FF 3-5 years, but i want everything i'm entitled to and if i'm not sure then i'll ask.

[Mike1]

I've been given 474 shares, but I'm P/T on a rolling 3 month contract.

What happens if they decide not to renew short term contracts before the 3 years is up and you've done nothing wrong?

[Zootsuit]

So is 725 the actual allocation for a full timer? Any full timers on here actually been allocated 725?

[fishtank]

I've been given 474 shares, but I'm P/T on a rolling 3 month contract.

What happens if they decide not to renew short term contracts before the 3 years is up and you've done nothing wrong?

If you started employment before 6 April 2012 and have been employed continuously for 12 months then failure to renew a FTC would be considered redundancy,by the rules of the SIP you would be considered a "good leaver" and would receive your shares.
If you started employment after 6 April 2012 the qualifying period would be 2 years.


Outside of those legal parameters you would likely be hoping for a little goodwill from the employer.

[fishtank]

So is 725 the actual allocation for a full timer? Any full timers on here actually been allocated 725?

Yes...and yes although only 613 this year and 112 next year.