Great News!
You can now access your Employee Stock Purchase account through Fidelity NetBenefits.
You also have access to Fidelity's full suite of financial tools and resources—including practical education on money basics, major life milestones (like buying a home, planning for college, or retirement), and smart savings and investing strategies.
You contribute to our success every day—why not own a piece of Lithia & Driveway and share in the rewards? With the ESPP, purchasing Company stock at a 15% discount is easy and cost-effective.
Good to Know
You can buy shares of Lithia & Driveway (LAD) stock through convenient payroll deductions. The better the stock performs, the more valuable your investment. Fidelity Investments® administers the ESPP.
Contributions
You can contribute 1% to 10% of your eligible pay through after‑tax payroll deductions to purchase Lithia & Driveway stock at a discounted price. As an eligible employee, you can purchase up to $25,000 worth of stock per calendar year through the ESPP, based on the stock price at the start of the offering period (not the purchase date price). If you reach the IRS limit, contributions above the allowable amount will be refunded to you without interest.
Eligibility
All team members can participate in the ESPP if they:
- Have completed 90 consecutive days of employment before the start of a new quarter and
- Are regularly scheduled to work at least 20 hours per week
How to Enroll
After you have completed 90 days of consecutive employment, you become eligible to enroll during the next quarterly ESPP enrollment window. This window is open the 10th through 25th of the month preceding the start of the next quarter. Watch for email reminders prompting you to enroll on My Lithia Benefits when the quarterly enrollment window opens.
Purchasing Lithia & Driveway Stock
Your contributions accumulate throughout the quarter (“offer period”) and are used to purchase shares of LAD stock at a 15% discount on the first business day of the following calendar quarter.
Designate a Beneficiary
When you sign up for the ESPP, don't forget to choose a beneficiary. If something happens to you, they'll receive the assets in your account.
If you haven't named a beneficiary and something happens, the assets will go to:
- Your spouse, or
- Your estate, if you don't have a surviving spouse
Changing or Stopping Deductions
You can stop your deductions at any time during the quarter. To receive a refund of your quarter to date deductions, you must cancel no later than 15 days before the last day of the quarter. If you stop deductions, you may not restart until the next quarterly enrollment window. To cancel deductions, complete the ESPP Cancellation Form.
Selling Your Stock
You are fully vested in your stock shares, which means you own them outright. You can sell your shares anytime by calling Fidelity at 800-544-9354 or logging into your Fidelity account. Note that Fidelity charges a fee for each stock sale.
Access Your Shares
Your purchased LAD stock will be transferred into your personal account with Fidelity. You can access and manage your account online by logging into the Fidelity website at netbenefits.com or by downloading the NetBenefits mobile app, once your account is set up.
Employee Notice
