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U.S. Xpress Enterprises Employee Stock Purchase Program.

As you may know, U.S. Xpress Enterprises (which includes U.S. Xpress, Inc. and Total Transportation of Mississippi) began trading on the New York Stock Exchange under the symbol “USX” in June of 2018. To make it easy for you to invest in the Company, we offer an Employee Stock Purchase Plan (ESPP), an optional program that allows you to purchase company shares at a discounted price of 15% off the fair market value of the stock.

The ESPP offers a discount that is both higher than many of our competitor trucking companies and the highest allowable by the Securities and Exchange Commission (SEC). If you’re currently employed by U.S. Xpress or Total Transportation and have been with the company for at least 12 months, you’re eligible to participate.

 

Here’s How it Works

Each year, there will be two enrollment periods (June 1-June 15 and December 1-December 15) during which you can sign up for the ESPP and determine what percentage of your compensation you want to allocate to purchasing U.S. Xpress stock.

After that, there are six-month “funding periods” during which time your pre-determined allocation will be withheld from your paycheck. At the end of each funding period, the Company will use funds that have been deducted from your paycheck to purchase shares at a 15% discount off the stock price on either the first day of the funding period or on the last day of the funding period, whichever is lower.

So, for example, if you enroll in June 2019 and the stock is trading at $5 per share on the first day of the funding period (July 1) and trading at $10 per share on the last day of the funding period (December 31), the money that’s been withheld during that six-month period would be used to buy stock at 15% off the lower of the two prices, or $4.25 ($5/share less 15% discount). Although you will need to hold the shares for one year prior to selling or transferring them, it is hard to beat a 15% discount on the lower of two prices.

Three Simple Steps to Sign Up

  1. Decide what percentage of your compensation you’d like to allocate for purchasing stock at a 15% discount. You may contribute anywhere from 1% of your compensation to 15% of your compensation, but not more than $25,000 over the course of a year ($12,500 for each 6-month period. IRS rules).
  2. The 12-digit account activation code below has been generated just for you. You’ll use that code to activate an online account that will allow you to enroll in the ESPP.
  3. Activate your online account by clicking here to access the ESPP website called Shareworks.
    • The first time you visit Shareworks, you’ll want to click “Open Account” in the top right hand corner of the web page and use your 12-digit activation code to get started.
    • Follow the prompts to activate your account, determine a password and enroll in the ESPP. Make sure to take this step during one of the two annual enrollment periods: June 1-15 or December 1-15.
    • If for some reason you don’t receive your activation code via mail or email, just give Shareworks a call at 1.877.380.7793 and they’ll give you your activation code.

That’s it. At the end of your funding period, you’ll be an owner of U.S. Xpress stock.

I’ve attached some additional information and Q&A for you to review as well. If you have further questions about the ESPP, just reach out to the HR Service Center at hrservices@usxpress.com or 1-844-USXPRESS (Option #7).