October 1, 2015
CWA District 4 Local Presidents: at&t Midwest
Dear Colleagues:
The closing stock price yesterday (September 30th) marked the end of the 2015 SSP Award Year. The stock price closed at $32.58, which is lower than the $34.96 closing stock price on October 1, 2014, the beginning of the award year. As a result, the stock price appreciation component of the SSP for this award year will not pay out. However, the award includes a dividend component for dividends declared during the award year. The four dividend declarations during this Award Year are $0.47 per share each quarter. As a result, the SSP payout for those eligible will be $282.00 ($0.47 dividend x 4 x 150 success units = $282.00).
As a reminder, this eligibility and payout is the last from the 2012 contract. Therefore, most members will receive this amount as a credit to their HRA. As a result of 2015 negotiations and changes in IRS regulations, future payouts, if any, for those eligible will be in cash, in accordance with MOA A-6 of the 2015 collective bargaining agreement.
In Solidarity,
Linda L. Hinton
Vice President
CWA District 4