Thanks SkyW

[CFIT]

So after one year you get a grant that is vested after year four and then on year two you get a grant that is vested on year five and so on?

Not quite, they used to give stock options that would vest within 2 to 3 years. You would buy the shares at the reduced price and then they were yours to do with whatever you wanted. Last year I netted about $5500, the year before that was really good which was almost $11,000. This year I had one mature and got a little under $3K.

Now due to some IRS rule they can only give out stock grants that vest in around three years, no more buying and selling of options. What sucks is that the grant is considered income when it vests and you have to pay income tax on it wether you sell it or not. I have one that comes up next year that is worth around $4k.

To me, I look at as pretty much free money.

Slam away

 

[Nevets]

Not quite, they used to give stock options that would vest within 2 to 3 years. You would buy the shares at the reduced price and then they were yours to do with whatever you wanted. Last year I netted about $5500, the year before that was really good which was almost $11,000. This year I had one mature and got a little under $3K.

Now due to some IRS rule they can only give out stock grants that vest in around three years, no more buying and selling of options. What sucks is that the grant is considered income when it vests and you have to pay income tax on it wether you sell it or not. I have one that comes up next year that is worth around $4k.

To me, I look at as pretty much free money.

Slam away

My intent was not to slam. It seems like a decent program and I was just trying to educate myself on it.

But you said, "...they used to give stock options that would vest within 2 to 3 years. You would buy the shares at the reduced price..." So are they grants or are you buying them under your stock purchase program? I'm asking about your stock grants program.

 

[CFIT]

Now with the stock grants they just give you the stock shares that vest on some given date, usually 3 years down the road. I got one a while back for 417 shares that vest sometime in 2009, I think 2009. I know it isnt this year but it might be early 2010.

To me, it seems like a pretty good deal.

 

[XPOO]

After you have been with the company for three years you automatically qualify for the stock grants. The grants are totally free of charge. $0. The grants are based loosely on your time of service and mostly on your annual income. This year I was given 28 shares of free stock. They take two years to vest with a penalty I think, and three years to vest with no penalty.

The regular stock purchase is predicated on the lower of the two amounts of the stock on opening day of the 1/2 year cycle, or the closing day. On top of that, its either 15 or 20% discount on top of the lower amount. If it opens at $20 of January 1st and closes at $18 on June 30th, you buy it at a discount from the $18. Make sense?

 

[Dubya]

The time to toggle over to F/I and annoy pilots instead of following 50-60 flights a shift.
PBR

Non XJT vs. SKW.. BURNNN!!!


Nice hijack
W

 

[Nevets]

The regular stock purchase is predicated on the lower of the two amounts of the stock on opening day of the 1/2 year cycle, or the closing day. On top of that, its either 15 or 20% discount on top of the lower amount. If it opens at $20 of January 1st and closes at $18 on June 30th, you buy it at a discount from the $18. Make sense?

Yeah, its like the standard employee stock purchase program. Thanks.

 

[WAVIT Inbound]

That sounds more reasonable than what I had been told. At XJT, the company is required to make enough weeks available to pilots so that if every pilot bid all their weeks, they could ALL be awarded (if you forget to bid, you are assigned a an open week). There is no yoy accrual of vacation.

The best part of Skywest vacation is that it transfers over year to year. So me as an FO I take no vacation. It would be a waste for me. I am saving all my vacation until I upgrade. Then all the vacation can be cashed out at Captain pay rather than FO pay.

 

[Nevets]

The best part of Skywest vacation is that it transfers over year to year. So me as an FO I take no vacation. It would be a waste for me. I am saving all my vacation until I upgrade. Then all the vacation can be cashed out at Captain pay rather than FO pay.

That is assuming you are approved though, right?

 

[WAVIT Inbound]

That is assuming you are approved though, right?

No I could end up not taking a single day off for vacation and just cash the vacation pay out for extra money. You do not have to actually take a day off to get vacation pay.

 

[Nevets]

No I could end up not taking a single day off for vacation and just cash the vacation pay out for extra money. You do not have to actually take a day off to get vacation pay.

You can have it paid out every year or only when you leave?