AGENT EQUITY PROGRAM (AEP)
Agents with eXp Realty and eXp Commercial may be eligible to enroll in the Agent Equity Program (AEP).*
While enrolled in the Agent Equity Program, 5% of net commissions from closed transactions is allocated to purchase EXPI stock at a 5% discount on the last day of the month in which the transactions closed. Shares acquired through the Program will be issued to the individual agent and corresponding tax ID. eXp cannot issue shares to an entity.
Prior to participating in the AEP, you need to activate your Shareworks account. All agents will receive a Shareworks activation email in the week following their join date with eXp.
- The option to enroll in the AEP will be on your Shareworks dashboard.
- Enrollment is effective the 1st of the following month and stock comp contributions will be applied to closed transactions thereafter.
- EXPI stock is purchased at a 5% discount on EXPI’s fair market value (closing price) on the last day of the month in which the contributing transaction closed.
- Shares are issued at the end of the following month. For example, at the end of May, the stock for any April transactions will post.
- Shares issued are placed into the participant’s E*TRADE account linked to Shareworks.(1)
- Shares are not subject to vesting.
(1)Shares are placed into a participants Shareworks account if they do not have a linked E*TRADE account.
- Participants can withdraw from the AEP at any time via the Shareworks dashboard.
- Changes to participation are effective the 1st of the following month and stock comp contributions will discontinue with closed transactions thereafter.
- All EXPI shares previously purchased will remain available within the participant’s account where shares were issued.
ASSOCIATED COSTS
Ownership of Shares issued under the Program may come with associated costs imposed by third parties, including but not limited to, fees that may be imposed by a stockbroker, financial services broker of Participant’s choosing, or others.
ISSUANCE ERRORS
In the event Participant identifies an error in any issued Shares received under the Program, Participant must notify EXPI as soon as possible by writing to the Stock Plan Services team via email at [email protected]. When contacting the Stock Plan Services team, Participant must provide:
- Name and Agent ID number
- Transaction number or property address of the Transaction that is the basis of the Shares issued with the error
- A description of what Participant believes is wrong and a clear explanation of why Participant believes it is an error.
If Participant does not notify the Stock Plan Services team within thirty (30) days after the Issue Date, the issuance will be deemed to be correct and Participant will not be able to dispute any errors. If Participant notifies EXPI orally, EXPI will require Participant to send the notice in writing in the manner described above within two (2) business days, which shall not toll the 30 (thirty) day notice period in any way.
The Stock Plan Services team will notify Participant of the results of their investigation and if it is concluded that no error has occurred, they will send Participant an explanation. If it is concluded there was an error, the Stock Plan Services team will correct the error and notify Participant.
TAX TREATMENT
You will find the U.S. tax treatment information for participation in the AEP on the Tax Treatment – Equity Compensation page.
*Due to securities regulations, agents in Colombia, the Dominican Republic, and Panama are not eligible to participate in the Agent Equity Program.
All equity programs are governed by eXp World Holdings, Inc.’s 2015 Equity Incentive Plan.
The Agent Growth Incentive Program and Agent Equity Program are subject to modification or termination at the discretion of the Company’s Board of Directors.
If an agent has otherwise achieved one or more eligibility requirements to receive an award under the ICON Program, but the eligible agent, through no fault of his or her own or due to extreme or extenuating circumstances, should be unable to fulfill one or more remaining eligibility requirements, alternative eligibility requirements may be provided to such agent; such alternative eligibility requirements must be equal in effort to the requirement being substituted and otherwise compliant with the 2015 Equity Incentive Plan.
Ownership of Shares issued under the Programs may come with associated costs imposed by third parties, including but not limited to, fees that may be imposed by a stockbroker, financial services broker of Participant’s choosing, or others.
eXp World Holdings, Inc. has adopted an Insider Trading Policy that prohibits employees, agents and contractors from the purchase or sale of EXPI stock based on material nonpublic information and from disclosing this information to others who may trade.
S-8 PROSPECTUS AND ANNUAL REPORT:
FOREIGN SECURITIES FILINGS:
For further assistance, visit the Agent Stock Programs home page for Agent Shareholder Support contact information.