Should we "tender" our stock?

Discussion in 'XPO Logistics' started by Grumpy914, Oct 1, 2015.

  1. Grumpy914

    Grumpy914 Member

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    Does anyone understand this letter? If we tender our stock, does that mean we are getting XPO stock in return? What happens if we don't tender? Are there any tax consequences either way? Will everything stay in the 401k?
    Many questions, but not many concrete answers.
     
  2. trucker_clock

    trucker_clock New Member

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    Whether you sign and return that letter or not, they are going to buy your conway stock and move it elsewhere in your 401k account.
     
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  3. ABFer

    ABFer Super Moderator Staff Member

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    Is it a cash deal or are you getting XPO stock in exchange? I haven't been following it so I don't have any idea and it goes either way in these things.
     
  4. Skeeter

    Skeeter Well-Known Member

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    I don't think there is tax a problem as long as you reinvest the money within a certain amount of time. (Roll it over)
     
  5. wltdo

    wltdo Active Member

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    I think that you have to tender your shares if you want the guarantee of 47.60 a share and I think trowe price will put it where you have it allocated. I think.
     
  6. trucker_clock

    trucker_clock New Member

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    I spoke to a rep from T Rowe Price on the phone, you will get $47.60 per share regardless of whether you send in the form or not. The money you get from the stocks will then be placed in an age appropriate retirement fund within your 401k account the way i understand it (I plan on retiring in 2035 so mine will go in a retirement 2035 fund). It will be "frozen" there for a week and then you can leave it there or move it to whichever option you choose (a more or less aggressive option within their offerings). XPO stock was not an option as of now. There is no tax issue, as you are just re appropriating it within your account. I asked what the purpose of the mailing was, as they are going to tender your stocks anyway/ He replied it is just a "yes i agree" if you send it in, or a "i don't agree" if you don't mail it in. This is how i understood it, if anything here is wrong, feel free to correct it.
     
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  7. guitarman1

    guitarman1 Active Member

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    I would rather that they put it in a money-market fund...
     
  8. oldschoolltl

    oldschoolltl New Member

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    That's exactly what I got from Trowe Price, agree or disagree with the buy out. The main reason for this is to help combat law firms from gathering shares holders to sue in response to the buy out. They can use the "tendered" shares as shareholder acceptance against a law suit for "non acceptance" and legal suit for more money. Either way, XPO will buy your shares and the money will be placed in a retirement date fund within your 401K. This is NOT a roll over situation!!!. Although, in the future, should XPO negate our 401k, it WILL become a roll over situation. At which time, one has the 60 or 90 day option (I forget, sorry) to roll over into XPO's 401K program or an IRA somewhere else, without tax or penalty. The only time one would get taxed and pay a penalty is if one takes a cash disbursement.
     
  9. Stand4afuture

    Stand4afuture Active Member

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  10. BIG R GUY

    BIG R GUY COOP Dispatch GPS Division

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    Does XPO match your contributions to your 401? Just asking....
     
  11. peachykeen

    peachykeen Member

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    No match for me....they just do 2% of my pay per quarter
     
  12. BIG R GUY

    BIG R GUY COOP Dispatch GPS Division

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    Ok,thanks. I was under the understanding they quit matching your 401 altogether. So they do in fact contribute something...
     
  13. vppforme

    vppforme Member

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    Yes the matching is gone but they still make a straight contribution to the 401k.


    They contribute anywhere between 2%-5% depending on when you were hired and how long you've been here.


    Even as much as up to 8% with the transition contribution parameters from years ago. Maybe some of the old timers could chime in to verify if this is still the case after the xpo buyout?
     
    Last edited: Apr 30, 2017
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  14. trucknfool

    trucknfool Well-Known Member

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    I got rid of all my CON-WAY stock after they took away my preferred stock and replaced it with common stock. Long ago. You have no choice in the matter.
     
  15. BIG R GUY

    BIG R GUY COOP Dispatch GPS Division

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    I noticed that in their job offer for a driver it states, medical insurance benefits offered depending on length of employment. So if they hire you as a full time driver, how long does it take before medical is offered??
     
  16. trucknfool

    trucknfool Well-Known Member

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    Anyone who goes to work with them at this point has not done their homework or in a far worse situation. To many companies out there offering far better than what is there. IMO.
     
  17. vppforme

    vppforme Member

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    If I recall,When a driver is hired on and decides to take the company medical ins. they are forced into the lowest coverage plan for the first year. After that, they can choose from any of the plans available. I think it is still 90 days until ins would kick in.

    That would be the only difference in medical coverage dependent on length of time with the company that I have heard of.

    Also I think they try to help out the dock workers turning into drivers by having their ins coverage kick in only a month after they get the license because they have already worked for the company for some time.
     
  18. vongrimmenstein

    vongrimmenstein Well-Known Member

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    I was under the impression they had to offer the exact same medical insurance to all their hourly or road drivers. I believe it is Federal Law you can't force someone to take a different plan that what the others receive. Anyone know? von.
     
  19. peachykeen

    peachykeen Member

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    The first year insurance sucks. High deductibles and doesn't cover very much.
     

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