Zovio offers an Employee Stock Purchase Plan (ESPP), allowing employees to purchase company-stock at a discounted price through payroll deductions.
The company uses the accumulated funds to purchase shares on behalf of participating employees. You can sell the stock at any time, but tax implications may vary. Please consult your financial consultant or Benefits Department with questions.
Employees can contribute 1-10% of their gross pay via payroll deductions and can increase or decrease their elections one time during the offering period
The purchase price will be 5% of the lesser of;
The closing price of ZVO common stock on the first day of the offering period (January 1 or July 1)
The closing price of ZVO common stock on the last day of the offering period (June 30 or December 31).
Please add bullet to read: Please note, the maximum shares an employee can purchase per offering period is 2,000. If your contribution equates to more than 2,000 shares, you will receive a refund of the balance on the first paycheck of the next offering period.