MIP 2022

[Fenris]

Where is this info coming from?

Announcement from Carol accompanying announcement of Juan Perez and Scott Price retiring at the end of March.
Kate is taking international. Nando is taking US sales, automotive and BaSE on top of US operations.

 

[MrWonderful]

I wonder who’s replacing Juan Perez and Scott Price.

 

[Coldworld]

I love it. Our IE planner works from home and has 2 side hustles. Trim that fat !!!

Uber eats and ups PVD driver???

 

[Fenris]

I wonder who’s replacing Juan Perez and Scott Price.

Kate G. Is taking International. Doing a search for CIO. Probably from outside UPS.

 

[Ou812fu]

Kate G. Is taking International. Doing a search for CIO. Probably from outside UPS.

Read the notice. It doesn't seem like he is being replaced. Someone else taking on the responsibility.

 

[Rubber Puckies]

Looks like the shares from Merrill Lynch that lapsed from the 2020 award are in Computershare now. Curious though, it looks like they aren't all there. I'm missing about 20. Is that normal for them to not all populate at once? Does anyone else only see a portion of them in Computershare as well?

 

[DaveA]

Looks like the shares from Merrill Lynch that lapsed from the 2020 award are in Computershare now. Curious though, it looks like they aren't all there. I'm missing about 20. Is that normal for them to not all populate at once? Does anyone else only see a portion of them in Computershare as well?

Taxes

 

[What'dyabringmetoday???]

Im a seasoned partner, I experienced the same you did just 12+ years ago. Let me sum this up for you: when they say jump, you ask how high. when they say bark, you ask how loud. UPS purged the old guard if you were a Nay sayer. They kept you on board if you followed the new guards lead. Trust me when i say this, its not getting any better and at the rate UPS IT is going, anyone with talent is bailing. 3rd party logistic companies are paying TOP PAY for UPS'ers right now and theres no question about it. The offer made to me, no only beat my current salary about 25k but they matches my 10 UPS vacation starting day one. UPs is no longer a retirement company. It's a revolving door. They want you for the knowledge, then they want it shot offshore for an india based company to support it. As I said above, ill collect my retirement fund and bounce after March 5th. Im not even remotely shy about saying that. UPS is too busy playing politics to care for the people. I know theres another VSAP coming but my guess is itll land in 2023. So if i was anyone in IT, I would keep my eyes and ears open to Sr management meetings and how they start navigating future solutioning of our systems. Its all going offshore. Every bit of it.

Seasoned partner- lol.

 

[Rubber Puckies]

Taxes

Sure feels like we get taxed about 18 times on MIP.

 

[OrionIsDaddy]

Taxes

So do we get taxed again if we sell them in computershare after merrel lynch takes taxes out already

 

[dolphin11]

So do we get taxed again if we sell them in computershare after merrel lynch takes taxes out already

No

 

[dolphin11]

So do we get taxed again if we sell them in computershare after merrel lynch takes taxes out already

There’s a $10 transaction fee when you sell. The taxes were withheld before the shares moved to Computershare. You can login to Merrill Lynch and the taxes will show

 

[FonzieG]

Nando is taking US sales, automotive and BaSE on top of US operations.

How is he realistically supposed to deal with all of that? Has Nando even worked outside operations??

Looks like the shares from Merrill Lynch that lapsed from the 2020 award are in Computershare now. Curious though, it looks like they aren't all there. I'm missing about 20. Is that normal for them to not all populate at once? Does anyone else only see a portion of them in Computershare as well?

Same here, only got half of what I was expecting. I'm setting up Merrill Lynch login to see what the tax damage was and figure out how much MIP is truly taxed from beginning to end.

 

[Fenris]

So do we get taxed again if we sell them in computershare after merrel lynch takes taxes out already

You get taxed if you realize a gain (sell at a price higher than the price the shares were valued at when receiving the MIP.). It is at a higher rate if you sell less than 1 year after receiving the actual shares in Computersharr.

 

[Rubber Puckies]

You get taxed if you realize a gain (sell at a price higher than the price the shares were valued at when receiving the MIP.). It is at a higher rate if you sell less than 1 year after receiving the actual shares in Computersharr.

So taxed on the cash portion (assuming you took cash) and then the shares that vested get taxed when moving to computershare. After that you pay a capital gains tax on the gain of the shares, assuming the stock price was higher the time sold verse the stock price when the shares were awarded? If this is right, I guess it sounds appropriate. Uncle Sam sure has a way of getting his.

 

[What'dyabringmetoday???]

So taxed on the cash portion (assuming you took cash) and then the shares that vested get taxed when moving to computershare. After that you pay a capital gains tax on the gain of the shares, assuming the stock price was higher the time sold verse the stock price when the shares were awarded? If this is right, I guess it sounds appropriate. Uncle Sam sure has a way of getting his.

UPS needs more non-hourlies like you. Lol.

 

[DaveA]

So taxed on the cash portion (assuming you took cash) and then the shares that vested get taxed when moving to computershare. After that you pay a capital gains tax on the gain of the shares, assuming the stock price was higher the time sold verse the stock price when the shares were awarded? If this is right, I guess it sounds appropriate. Uncle Sam sure has a way of getting his.

Your cash MIP is taxed each year when you receive it. You think they will just magically skip taxing the second half of that after it vests? No, no, no.

Cap gains tax is part of our tax system. Price we pay for living here. Could always go elsewhere...

Go here and you will feel maybe a little bit better: Is the U.S. the Highest Taxed Nation in the World? | Committee for a Responsible Federal Budget

 

[johnbuck]

Your cash MIP is taxed each year when you receive it. You think they will just magically skip taxing the second half of that after it vests? No, no, no.

Cap gains tax is part of our tax system. Price we pay for living here. Could always go elsewhere...

Go here and you will feel maybe a little bit better: Is the U.S. the Highest Taxed Nation in the World? | Committee for a Responsible Federal Budget

I know it all evens out come time to file taxes.... but it always seems MIP is taxed so much higher than a normal paycheck

 

[DaveA]

I know it all evens out come time to file taxes.... but it always seems MIP is taxed so much higher than a normal paycheck

Pretty sure it is. My understanding of how payroll tax works is they tax it like you make that all year. If you don't, then in theory you would get some of that back when you file your taxes.

 

[Europa]

How is he realistically supposed to deal with all of that? Has Nando even worked outside operations??

Same here, only got half of what I was expecting. I'm setting up Merrill Lynch login to see what the tax damage was and figure out how much MIP is truly taxed from beginning to end.

Nando has been country manager in Switzerland, District Manager in Eastern & Southern Europe and South Asia and Region Manager in Asia and Europe. In all of those roles he had the various functions reporting to him and he’s always been good at holding people accountable.