It's Your Future. Own It!
The CMC Employee Stock Purchase Plan (ESPP) offers you the opportunity to purchase shares of company stock at a 15% discount. Purchasing company stock lets you save for your future and become an owner of the company at the same time.
You are eligible to enroll if you work on average 20 hours or more a week, more than five months in a calendar year, and if you have one year of continuous service as of January 1, 2019. Gerdau service counts.
Your cost per share is $13.80. This is 85% of the average closing price of CMC Common Stock on the New York Stock Exchange for each of the ten trading days immediately prior to January 1, 2019, which is $16.24. You may enroll to purchase up to 400 shares in 10-share increments. Click here to see what your payroll deduction will be.
You pay for the shares you purchase through automatic payroll deductions, beginning with your February 14, 2019 paycheck. Your shares will be purchased on Feb. 1, 2020 and delivered to your Schwab account by Feb. 5, 2020. You don’t pay any taxes on your purchased shares until you sell them.
You can manage your ESPP account online and make same-day trades with our vendor, Charles Schwab. There’s no requirement to hold your purchased shares before selling them.
CMC recommends that you talk to a tax advisor before selling shares, since the timing of the sale has tax implications. CMC does not provide tax advice to employees. However, you can get free tax advice from our Employee Assistance Program. Call 1-866-695-6327 to schedule a meeting with a financial planner.
If you are interested in transferring shares of CMC stock you previously purchased to Schwab from Broadridge, Schwab will reimburse you for any transfer fees you may be charged. To take advantage of this offer, follow the process in the Transfer Shares to Schwab document.
To learn more about the ESPP and enrolling to purchase stock, watch the ESPP Benefits Break video and read the ESPP Guide and FAQs.