You’ll receive as many shares as EQ can purchase for you with your monthly payment. How many shares are actually purchased will depend on the amount of your investment and easyJet’s share price. The shares are bought at the market price every month shortly after the deduction has been made from your salary.
All easyJet people employed on the UK payroll who have completed three months’ continuous service at the time of the first salary deduction can join.
You can take your BAYE Shares at any time, but if you sell within five years, you may have to pay statutory deductions.
The following table is for indicative purposes only:
| Years since the purchase date | Value of shares subject to statutory deductions |
| Less than three years | The full market value of shares at the time of leaving |
| At least three, but less than five years | The lower of the initial market valuecat purchase or their value at the date of leaving |
| Five or more years | No statutory deduction charge |
Equiniti Share Plan Trustees Limited will act as Trustee of the Plan and is there to ensure that your shares and cash are held independently of easyJet. EQ is responsible for ensuring the smooth running of the Plan on a day-to-day basis. This’ll include answering your queries, performing the monthly share purchase and processing your sale requests.
As long as you’re based in the UK and paid on the UK payroll you’ll be able to join the UK Plan. If you’re not sure how this will affect your home country tax you should consult your local tax adviser for more details.
You can remain in the scheme, however, you’ll be unable to continue making contributions or purchase shares.
The payments will be automatically deducted from your pre-tax salary on the day of payment each month.
You can change your payments or discontinue payments as you want, online at http://shares4me.easyjet.com or via the EQ Share Plans app available in the App Store or Play Store. But in order to get the full tax benefits, you should hold your shares as stated previously.
You can change your payments or discontinue payments as you want, online at http://shares4me.easyjet.com or via the EQ Share Plans app available in the App Store or Play Store. But in order to get the full tax benefits, you should hold your shares as stated previously.
Your shares are purchased every month on or around the 10th of the month. You can review your Plan holding via the ESP Portal at http://shares4me.easyjet.com or via the EQ Share Plans app available in the App Store or Play Store.
The shares will be purchased at the market price at the time of purchase.
You must select a preference for any dividends you may receive on your BAYE shares. If easyJet pays a dividend to shareholders, you have two choices:
1. Receive cash dividends
If you choose to receive cash dividends, this counts towards your annual dividend allowance. If these dividends, together with any other dividends you receive, are more than the annual dividend allowance you may need to pay additional tax as explained below.
Equiniti Limited (‘Equiniti’) will send you a Dividend Confirmation notice showing the cash dividends you’ve received. You can also see your BAYE dividend payments via the ESP Portal or on the EQ Share Plans App.
2. Reinvest dividends to purchase additional shares
If you choose to use the dividends received on your BAYE shares to buy additional shares (called Dividend Shares). You won’t be able to sell or withdraw Dividend Shares from the BAYE for three years (the holding period) unless you leave easyJet plc (‘easyJet’).
You can view your current dividend preference and change it if you wish via the Equiniti Employee Share Plans (“ESP”) Portal at http://shares4me.easyJet.com or by downloading the EQ Share Plans App. Search for 'EQ Share Plans' in the 'App Store' or 'Play Store' and select your choice under the ‘I want to..’ section.
You’ll be able to look at an up-to-date statement of your holdings at http://benefits4me.easyJet.com or via the EQ Share Plans app available in the App Store or Play Store.
Your statement will show you:
- the number of shares bought by EQ,
- the date of purchase and initial market price of those shares,
- your current total shareholding under the Plan and its cash value (based on the share price shown on the ESP Portal), and
- the tax position of the shares in relation to the less than three years, three-five years and more than five year rules.
If you're made redundant or retire or can no longer work because of disability or injury:
You’ll receive your BAYE and matching shares (if you were awarded these before May 2020), see Transfer of shares’ below.
Note: Your shares won’t be subject to UK tax or NI in these circumstances.
If you resign:
You’ll receive your BAYE shares; see ‘Transfer of shares’ below but you’ll need to pay UK tax and any NI if shares have not been held for five years.
Transfer of shares
After you’ve left easyJet, EQ will send you a leaver letter detailing the choices available to you, either to sell or transfer shares into your own name. If you leave due to redundancy, retirement, or can no longer work due to disability or injury, your shares will be automatically transferred into your name if EQ does not receive your instructions within 30 days of the despatch of your leaver letter.
If you leave for misconduct or other reasons, EQ will transfer your shares to you or sell them on your behalf, according to your instructions. If you don’t inform EQ within 30 days of the date of despatch of your leaver letter they’ll automatically sell sufficient shares to cover any sales costs, your tax and NI liability and will transfer the remaining shares into your own name.