To: Bargained-for Mobility employees covered by the Success Sharing Plan (SSP)
Subject: 2015 SSP Award
As a bargained-for employee covered by a Success Sharing Plan (SSP), you may be eligible for the 2015 SSP award. This SSP award is tied to employees’ efforts toward the Company’s success as reflected by the increase in stock price and by dividends declared. Specific details about your eligibility can be found in your contract.
The total value of the 2015 SSP award is $141 per eligible full-time employee. SSP will be in the form of a cash payment or an HRA credit. To determine if your SSP will be in the form of a cash payment or HRA credit, refer to the bargained SSP agreement.
If your SSP is in the form of cash, the payment will be made on the Nov. 20, 2015 or Nov. 25, 2015 paycheck, depending on your payroll cycle.
If your SSP is in the form of an HRA credit, the credit will be made to your HRA in mid-December. If you are eligible for the HRA credit, you will receive a letter advising you that new funds are available for the reimbursement of eligible out-of-pocket health care expenses.
Here’s how to determine the amount of the SSP award. Each eligible employee receives an award of 75 Success Units that are multiplied by the increase in stock price during the award year, plus dividends declared during that same period.
Dividends were declared four times during the award year at a rate of $0.47 per share. The stock price did not increase from Oct. 1, 2014 to Sept. 30, 2015, resulting in no payout for the stock price component. Therefore, the calculation is 75 Success Units multiplied by the dividends declared ($0.47 x 4) – which equals $141.