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American Electric Power Co., Inc. Message Board

tictoc_88 4 posts  |  Last Activity: Jun 30, 2014 2:17 PM Member since: Sep 21, 1999
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  • Reply to

    Medtronic Covidien

    by rkanderson Jun 17, 2014 11:11 AM
    tictoc_88 tictoc_88 Jun 30, 2014 2:17 PM Flag

    Thank you for the quick response. Would you be kind enough to explain or give an example of an award that would be subject to the excise tax and what section of the tax code triggers the tax.
    ;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;;I have never heard of such a tax and would like to know if it is a common practice among the fortune 500 companies to reimburse executives.

  • Reply to

    Medtronic Covidien

    by rkanderson Jun 17, 2014 11:11 AM
    tictoc_88 tictoc_88 Jun 30, 2014 2:07 PM Flag

    yes official respone

  • Reply to

    Medtronic Covidien

    by rkanderson Jun 17, 2014 11:11 AM
    tictoc_88 tictoc_88 Jun 29, 2014 1:34 PM Flag

    Mr. Tanenbaum,

    There is a misperception that insiders are being reimbursed for the capital gains tax consequences of the exchange. All shareholders, including Executives, are being treated the same in this respect in that Medtronic is not reimbursing any shareholder for capital gains tax.
    Certain officers of Medtronic are subject to an excise tax (in addition to capital gains tax) on their outstanding equity awards. This excise tax is not applicable to any other employees or retirees of the company. Because this excise tax is separate and incremental to the capital gains tax that applies for all shareholders, Medtronic will assist these officers to cover that tax using a tax “gross-up.”

    Thank you for your email and your concerns are important to us.


    Tracy McCartney
    Investor Relations

    Mr. Tanenbaum,

    There is a misperception that insiders are being reimbursed for the capital gains tax consequences of the exchange. All shareholders, including Executives, are being treated the same in this respect in that Medtronic is not reimbursing any shareholder for capital gains tax.
    Certain officers of Medtronic are subject to an excise tax (in addition to capital gains tax) on their outstanding equity awards. This excise tax is not applicable to any other employees or retirees of the company. Because this excise tax is separate and incremental to the capital gains tax that applies for all shareholders, Medtronic will assist these officers to cover that tax using a tax “gross-up.”

    Thank you for your email and your concerns are important to us.


    Tracy McCartney
    Investor Relations

    Mr. Tanenbaum,

    There is a misperception that insiders are being reimbursed for the capital gains tax consequences of the exchange. All shareholders, including Executives, are being treated the same in this respect in that Medtronic is not reimbursing any shareholder for capital gains tax.
    Certain officers of Medtronic are subject to an excise tax (in addition to capital gains tax) on their outstanding equity awards. This excise tax is not applicable to any other employees or retirees of the company. Because this excise tax is separate and incremental to the capital gains tax that applies for all shareholders, Medtronic will assist these officers to cover that tax using a tax “gross-up.”

    Thank you for your email and your concerns are important to us.


    Tracy McCartney
    Investor Relations

  • Reply to

    Medtronic Covidien

    by rkanderson Jun 17, 2014 11:11 AM
    tictoc_88 tictoc_88 Jun 24, 2014 1:41 PM Flag

    I have just sent the following email to Medronic.
    It is my understanding that the exchange of my 10,000 shs (in street name) will be exchanged for 10,000 shares of Medtronic PLC and that it is a taxable exchange.
    All my shares were acquired in the 1980’s and would place a gigantic tax on me for the exchange. It is also my understanding that insiders will be reimbursed for the tax consequence.
    Please let me know if my understandings are incorrect.

    I would like to also be reimbursed. It is my intention to start a class action law suit unless all stockholders are treated the same.
    Thanks for your attention.

AEP
53.97-0.08(-0.15%)Jul 23 4:05 PMEDT

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