eXp Canada Provincial Agent Centre
A stock award (Restricted Stock Units – RSU) is a promise to deliver shares of company stock in the future if the vesting conditions are met.
All agents (including brokers) in good standing with their applicable eXp brokerage (“eXp”) are eligible[1] to earn stock awards under the Agent Growth Incentive Program (the “Program”). Stock awards (issued in the form of restricted stock units) are a promise to deliver shares of eXp World Holdings, Inc. (Nasdaq: EXPI) common stock (“EXPI stock”) in the future if certain vesting conditions are met. Shares acquired through the Program will be issued to the individual agent and corresponding tax ID. eXp cannot issue shares to non-natural persons (e.g., a legal entity).
[1] Subject to applicable law and at the discretion of the Board of Directors. The Program may not be available in all jurisdictions.
Upon an agent’s first completed sale, lease, or referral transaction (full unit) in each anniversary year with eXp, the agent will be granted a First Closed stock award.
Upon fulfillment of a non-reduced cap (company commission cap paid to eXp) during each anniversary year, agents will be granted a Capped stock award
When an eXp agent (sponsoring agent) directly attracts another agent (sponsored agent) to eXp, and upon the sponsored agent’s first completed transaction (full unit) with eXp, the sponsoring agent will be granted a Sponsor stock award.
The number of EXPI stock granted under an Agent Stock Award is determined by using the closing market price of EXPI stock on the last trading day in the qualifying month and is set forth on the participant’s Notice of Agent Stock Award.
A participant does not own the EXPI stock granted under an Agent Stock Award until the award has vested. Each of the Agent Stock Awards described above vests over a three-year vesting period ending on the Vesting Date (as defined in the Agent Stock Award Terms and Conditions). In order to satisfy the vesting requirements, a participant must remain with eXp and in good standing (as defined in the participant’s Independent Contractor Agreement with eXp) during the vesting period. For Sponsor Awards, the sponsoring agent and the sponsored agent who joins and closed their first transaction must both remain with eXp and in good standing during the vesting period. Any failure to achieve the vesting requirements will result in the forfeiture of the stock award.
In any year that an agent achieves ICON status, agents can earn up to $16,000 CAD.
Learn more about the requirements to become an ICON Agent
The number of EXPI stock granted under an ICON Agent Stock Award is determined by using the closing market price of EXPI stock on the 15th day of the month following the qualifying month (or preceding trading day).
A participant does not own the EXPI stock granted under an Icon Agent Stock Award until the award has vested. Each of the ICON Agent Stock Awards vests over a certain vesting period ending on the Vesting Date. In order to satisfy the vesting requirements, a participant must remain with eXp and in good standing (as defined in the participant’s Independent Contractor Agreement with eXp) during the applicable vesting period; provided, however, that Event Attendance Awards are not subject to vesting and are deemed owned by the participant once granted.
eXp will calculate the new Agent Growth Incentive Program awards achieved by agents once all transactions have been “closed” from the qualifying month. This typically occurs towards the end of the following month. Grant notifications will be sent once the award(s) have been uploaded to the individual’s Shareworks accounts.
Upon vesting, all shares issued under the Program will be held in the individual agent’s Shareworks account, the online platform used to manage eXp’s equity plans. Agents can access their Shareworks account through Enterprise by clicking on the Shareworks tile under Technology Solutions. Agents outside of the U.S. and Canada can access their account through Okta.
All equity programs are governed by eXp World Holdings, Inc.’s 2015 Equity Incentive Plan and the eXp 2015 Equity Incentive Plan Prospectus.
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.
The eXpert Care Desk is available 24/7 to help you with any issue, big or small.
Phone: (833) 303-0610
Email: [email protected]
The eXpert Care Desk is available 24/7 to help you with any issue, big or small.
Call or Text: (833) 303-0610
Email: [email protected]
