Dear Colleagues,
We’ve shared before that the majority of U.S.-based legacy American employees are eligible to receive 23.6 percent of the shares of common stock in the new company (AAL) distributed to holders of allowed unsecured claims. As of Jan. 10, American has distributed approximately 26 million AAL shares to eligible U.S.-based legacy American employees.
We are excited to share there will be a third distribution of approximately one million shares to certain U.S.-based legacy American employees. Eligible employees will be able to sell or transfer shares beginning Feb. 10, though they may see their shares in their accounts under “Employee Grants and Awards” as early as Feb. 7. As a reminder, these shares will be available to eligible employees in their Computershare account, which is available by first logging into their retireonline.com account with J.P. Morgan.
It’s important to note that because this is a small distribution and because the company can only issue a whole number of shares, not all employees will receive shares and for those who do, the distribution will be smaller than the initial distribution.
And, now that we’re in tax season, you may be wondering how the equity distribution fits in. Any equity distributed to an employee in 2013 was included as wages in that employee’s 2013 Form W-2 issued this year, while 2014 distributions will be reported on the 2014 W-2. Also, any employee-initiated sales that occurred in 2013 will be reported on a 1099-B form, and will be mailed to you by your broker. If you made your sale with Computershare, you will receive the 1099-B form from them. If you transferred your shares to another broker and subsequently made a sale, you will receive the form from that broker. For more information, visit the Taxes and Fees section of the Equity Hub.
Visit the Equity Hub on Jetnet to ensure you have the information and tools you need related to these shares.
Thanks for all you do,
The Equity Team