You can enroll through Shareworks (found through OKTA) during an open enrollment window.  

ESPP contributions show in your paycheck on Ceridian (or local payroll system) and will not be seen in Shareworks. Once a purchase is processed you will see what contributions were used in a purchase. 

You can never increase your contribution election in a 24-month offering period. In the case of an ESPP reset however you will be given a short window of time to update your election to anything between 1-15% if you so choose, this is not considered an increase as it only goes into effect if the reset takes place. Reset means the price on purchase date is lower than the price on offering date and therefore the offering ends and a new one begins.  

Yes, every new 24 month offering period is an opportunity to enroll for contributions between 1 to 15%.

 

No, suspending contributions is not allowed in this plan, you can withdrawal, or you can reduce your ESPP election, but please remember you cannot later increase the election. 

You can make one decrease to your ESPP election every purchase period (6-month period). You can withdrawal at any time as well, however you will not be able to rejoin the same offering period. Closer to purchase, the system will lock down for payroll processing and you will not be able to make any changes. That cutoff will be dictated by payroll cutoff dates in each jurisdiction and communicated to you through stock@lucidmotors.com email communications.  

Lucid has enrollment windows twice a year in May and November. As a Lucid employee you are eligible for enrollment as long as your start date is 30 days or more prior to the offering date and you are not currently enrolled in another plan. There are two offering dates per year, June 1st, and December 1st.

The purchase takes place After market close on purchase date, your shares are in your account within 24 to 48 hours. 

The purchase price per share of Stock purchased will be the lower of  (a) 85% of the fair market value per share of Stock on purchase date, or (b) 85% of the fair market value per share of Stock on the offering date.

We will pay 85% of the lower offering date closing price and will not reset the plan, which means we could end up paying the same low price through all 4 purchases if it remains the lowest price in the plan.  

In case of a reset, it will begin a new (full 24 month) offering period with a total of 4 purchases. 

For any date that is not a Trading Day, the Fair Market Value of a share of Stock for such 

date shall be determined by using the closing sale price for the immediately preceding Trading Day. 

In this case, you would be withdrawn from the US plan and can enroll in the non-qualified plan at the next enrollment window. 

In this case, you would be withdrawn from the non-qualified plan and can enroll in the qualified plan at the next enrollment window. 

No, Shares are fully vested upon purchase date. Shares show up in your account within 2 business days from purchase date. 

Any funds that have not already been used in a purchase will be refunded to you on your final paycheck. If you have been through a purchase those shares are yours and remain in your account. If your end date is on Purchase date, you will still be included in the purchase and receive no refund of cash.  

For US employees shares cannot be removed from Shareworks. For NON-US employees shares can be removed from Shareworks at any time. 

No, future purchases do not alter past purchased share values. 

You can access tax specific information through your Shareworks accounts under the Documents tab. 

When you sell shares from your qualified ESPP, it shows up on both your w2 and 1099-b because it involves two aspects of your income: 1. Compensation (W-2) and 2. capital gains/losses (1099-b). The W-2 includes the income you earned when you purchased the shares at a discount through payroll deductions, while the 1099-B reports the sale of those shares and any resulting capital gains/losses. 

Pennsylvania does not recognize ESPP or ISO stock as tax qualified. You should receive state tax through payroll deductions after purchase. 

The wash-sale rule requires that investors who want to claim a capital loss from selling an investment at a loss refrain from buying that same asset, or a “substantially identical” one, within a 30-day period either before or after the sale. If you sell shares at a loss within 30 days before or after ESPP purchase, the loss may not be allowed by the IRS. 

No, market forces will impact the market value of shares of Stock and, there is a risk that any shares of Stock that I acquire under the Plan may increase or decrease in value, even below the Purchase Price.  

The $25k rule limits your Employee Stock Purchase Plan (ESPP) to a pre-discounted $25,000 per calendar year. This limit is based off of the “offering date” market close price. This same rule is applied in every country where an ESPP plan is available. The $25,000 limit rolls through calendar years in situations where the offering period has not ended, and you have not used your full limit. In the case of a reset, it is seen as the offering period ending, in this case the limit from the previous year could not be used in the next purchase. In the case of a reset, any remaining limit from the previous year will not roll through to the next purchase.  

Max 25,000 shares per offering period, our standard offering period is 24 months but when we have a reset, it cuts the offering period short. 

Any accumulated contributions in excess of the $25k limit (which is based on offering date price) will be refunded back to you through payroll. In the US the stock team will review your contributions in the middle of every 6-month period and may pause your deductions if you are over this limit. 

You will not need to re-enroll in each new (6 month) purchase period in a 24-month offering, however before the full 24–month offering ends you will have to re-enroll into the new offering if you wish to stay in the plan.

The enrollment window for the next offering will still take place at the same time, during the month of May or November, so if you want to enroll in a new offering, you will see an enrollment period election option in Shareworks, the month leading up to the final purchase (in your 24-month offering).

 

FAQ Coming soon