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Home » Your Guide To Philips’ ESPP: Everything You Need To Know

Your Guide To Philips’ ESPP: Everything You Need To Know

If you work at Philips, you may be eligible to enroll in the employee stock purchase plan (ESPP). To help you make the most of this opportunity, we’ve put together a comprehensive guide to all the ins and outs of this program, from how it works to how you enroll.

If you’d like to learn more about how ESPPs work in general, be sure to read our blog about an overview of employee stock purchase plans.

Here’s a quick rundown of how Philips’ ESPP works.

  • You can buy Philips stock at a 15% discount.
  • You can enroll 4 times a year:
    • Dec 15th
    • Mar 15th
    • Jun 14th
    • Sep 14th
  • You can contribute up to 10% of your salary with a maximum of $20,000 per year.

Should You Participate In Philips’ ESPP?

When you enroll in Philips’ ESPP, you have the opportunity to purchase shares of your company stock at a discounted price through automatic payroll deductions.

The benefits of participating in an ESPP are clear – you can make gains and build wealth. In fact, Philips employees can gain $3,529 or even more annually through their ESPP.

Philips’ ESPP Discount

Philips offers employees an opportunity to buy Philips stock at a 15% discount.

Philips’ ESPP Enrollment Periods

You can enroll in Philips’ ESPP 4 times a year, once in the spring and once in the fall. You can enroll by the following dates:

  • Dec 15th
  • Mar 15th
  • Jun 14th
  • Sep 14th

Philips’ ESPP Contribution Limits

The first thing you need to do is decide how much you want to contribute. You can contribute up to 10% of your salary, with a limit of $20,000 per year.

Philips’ ESPP Offering Period

The offering period is the time that employees can purchase the stock. Philips’ employee stock purchase plan (ESPP) has four 3-month offering periods every year. 

When you’re participating in Philips’ ESPP, you set aside money from each paycheck from the beginning of a purchase period through the end. At the end of this purchase period, the money that has been set aside is used to purchase company stock at a discount.

If you are interested in Philips’ ESPP, here are some key dates to keep in mind. 

The offering periods are 

  • Jan 1st – Mar 31st
  • Apr 1st – Jun 30th
  • Jul 1st – Sep 30th
  • Oct 1st – Dec 31st

The stock purchase dates are the last trading day before the end of each period.

Selling Your ESPP Shares

Once Philips purchases the shares on your behalf, they will be deposited into your brokerage account. From there, you can do what you want with them…sell immediately (as long as it’s during the open trading windows), hold for a short time, hold for an extended time, etc.

How does Benny help me make the most of Philips’ ESPP?

Benny makes it easy to participate in Philips’ employee stock purchase plan by giving you cash to match your ESPP paycheck deduction so you can get the benefits of your ESPP without impacting your take-home pay.

For example, if you’re contributing $350 per paycheck to Philips’ ESPP, Benny will deposit $350 in your bank account before each paycheck’s pay date.

Use our ESPP calculator to see how much you can earn with Philips’ ESPP.