When Royal Mail was privatised in October 2013, 10% of the shares were set aside as Free Shares for employees who were eligible at the time. This amounted to just over 100 million shares. These shares were issued as Share Incentive Plan (SIP) 2013 and SIP 2014 Free Shares.
This was the largest free stake of any major UK privatisation. More employees could take part than in any other UK privatisation for almost 30 years. The overwhelming majority of employees who were eligible at the time (more than 99%) decided to take part.
SIP 2015 Free Shares
Since these shares were awarded, some employees who received them have left Royal Mail. Under the scheme rules, some had to give up their shares. This meant there were surplus shares in the SIP that could be distributed to eligible employees.
As well as the surplus shares, the Government also gave an extra 1% of company shares, equal to 10 million shares, to eligible employees. The surplus shares and the extra 1% of company shares made up the SIP 2015 Free Shares Offer.
If you have any questions about the Free Shares Offer you can chat to a share scheme expert on our free* helpline.
Call the Employee Share Offers Helpline on 0800 012 12 13. (*Calls are free from BT landlines but other network providers may charge).
The helpline is open 8.30am to 5.30pm, Monday to Friday (excluding bank holidays).
You can also contact a share scheme expert outside of normal business hours by emailing email@example.com. Please include your full name, address and your payroll number. Your email will be answered by a member of the team within 48 hours.
Important notice: share prices can go down as well as up. The value of an employee’s shareholding will be determined by the Royal Mail share price when they sell their shares.