The Baker Hughes Employee Stock Purchase Program (ESPP) is an opportunity to share in company performance by purchasing Baker Hughes stock at a 15% discount through payroll deductions. You can contribute up to $12,000 per year after tax to purchase Baker Hughes stock.
Contributions are deducted on an after-tax basis from each paycheck based on your election of up to $3,000 per quarter. The discount that the company provides is considered a taxable benefit, and payroll will withhold associated taxes for that purpose.
Shares will be purchased at the 15% discounted rate on whatever the stock price is on the last trading day of each quarterly offering period. The purchase transaction will occur as soon as administratively possible after the offering period ends.
Your payroll deductions are used to purchase Baker Hughes common stock at a 15% discount without brokerage commissions or fees.
You’ll receive a dividend on the Baker Hughes shares you own whenever the Company declares one. Active employees participating in the program have the option to either have dividends reinvested or paid in cash to their Fidelity brokerage account.
Participation in the ESPP is optional and does carry risk, including the potential loss of your investment due to market fluctuations. You decide whether or not to participate in the program and the level of your participation. Before you elect to participate, carefully read the Baker Hughes Employee Stock Purchase Plan Prospectus, located on the Fidelity NetBenefits website under Plan Information & Documents, for more information.
To enroll in the ESPP or to manage your account, log in to Fidelity NetBenefits or call Fidelity directly at 1-800-544-9354 (U.S.) or go to Fidelity.com/globalcall to find the correct number if you're outside of the U.S. You can manage all elements of your ESPP account online: enrollment, withdrawals, change contribution rates, or sell purchased shares.
You can change the contribution amount with Fidelity at any time during the enrollment period. Any changes made after enrollment ends will be applied to the next offering period. If you change your contribution amount to zero to discontinue your participation, the contributions collected so far will be used to purchase shares at the end of the offering period. You can increase your contribution in a future offering period if you want to re-enroll in the program.
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