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Total Rewards: Charter Introduces Employee Stock Purchase Plan
New Plan Latest Addition to Company’s Comprehensive Benefits
Charter Communications announced the launch of an Employee Stock Purchase Plan (ESPP), designed to encourage and reward employee tenure and empower its workforce to share in the company’s success. Eligible employees will now have the opportunity to purchase Charter stock through payroll deductions and will receive matching Restricted Stock Units (RSUs) based on their years with Charter.
“In my meetings with employees around the country, one of the most frequent topics of conversation is that they want the opportunity to own stock and share in Charter’s success,” said Chris Winfrey, President and CEO of Charter Communications. “Ownership is a powerful concept. It drives accountability, fuels long-term growth and aligns us for success. As shareholders in our company, we are not just employees — we are owners. And that distinction makes an incredible difference in how we can better serve our customers.”
Through Charter’s ESPP, eligible employees can choose the amount they would like to contribute from each paycheck to buy Charter stock — up to 15% of their pay, with a maximum of $5,000 per year. Charter will match the purchase with a grant of RSUs based on the employee’s tenure with the company. The longer they have been at Charter, the more RSUs they will receive. These RSUs fully vest after three years, offering employees another meaningful incentive to grow their careers with Charter.
Charter’s ESPP is available for all active, full-time employees that are not included in the company’s annual equity program. Participants can adjust or withdraw their contributions during each six-month purchase period if their needs change, making building ownership over time more accessible and convenient.
Winfrey added, “From competitive pay and great benefits to tuition-free degrees and self-progression programs, we continue to invest in making Spectrum a great place for all employees to build long and rewarding careers. The ESPP is yet another way we are working to create an environment where employees are motivated and invested as owners to deliver their best for our customers.”
The launch of Charter’s ESPP is part of the company’s multiyear investment in a skilled, tenured and 100% U.S.-based workforce who create and deliver superior products and service for their customers. Charter offers a competitive starting wage of at least $20 per hour — nearly three times the federal minimum wage. Employees receive comprehensive health benefits, for which the company has absorbed the full annual cost increase the last 12 years. Charter also provides employees a market-leading retirement plan with a company contribution of up to 9% a year. Additionally, a variety of education and career progression programs are available, including an Education Benefit that covers 100% of tuition costs for full-time employees pursuing select degrees and certificates from 300+ participating programs. Employees also receive free and/or discounted Spectrum products, including Spectrum Mobile, TV and Internet.
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