Need help with stock (asap)

Discussion in 'UPS Discussions' started by coolslice, Jan 2, 2014.

  1. coolslice

    coolslice New Member

    I've searched and searched, and I cannot find an answer. I have decided to sell some of my stock while the price is high (I'm a package car driver). I have over 100 shares available to sell, and have my account linked to my bank- all that. My question is that it says the trading window is closed for groups 2,3,4. How in the world do you know what group you're in? I've looked at every form and every FAQ and NOTHING. It's almost like they're trying to prevent you from doing anything other than BUY stock.

    My second question is even if I'm in group 2,3,4, what can they really do? It's my stock, it's not like I'm selling 10 million shares. Is there any risk at all, or should I just go ahead and sell them?
     
  2. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Drivers are in Group 1.
    You are subject to Insider Trading laws however.

    Sell Away.

     
  3. coolslice

    coolslice New Member

    That's good news. Making a case against me as an insider would be pretty funny. Thanks!
     
  4. upschuck

    upschuck Avatar bet gone wrong

    If you go on UPSers.com and look in the right side where the stock price is, it will say if it is open to you or not. It should open up after earnings are announced until the dividend is paid.
     
  5. Marne Vet

    Marne Vet Well-Known Member

    Have ya tried calling them and asking them all of these questions? All you need to do is go to the stock website, download the form for converting your available stock, fill out the form, and add a note saying "Please convert and sell all of the shares listed". They'll do everything for you and then mail you a check. You won't get it direct deposited like the dividends.
     
  6. upschuck

    upschuck Avatar bet gone wrong

    When I sold mine, I got it direct deposited...Did everything online, did not turn in any paperwork.
     
  7. Marne Vet

    Marne Vet Well-Known Member

    If the stock was already converted and you're within your selling group. If his is not, all he has to do is what I posted and he'll get paid. ;)
     
  8. upschuck

    upschuck Avatar bet gone wrong

    I didn't convert to B shares. Sold all A shares through Melon(I think). From what I read earlier in another thread, you need to have a certain amount to be able to sell through the website.
     
  9. Marne Vet

    Marne Vet Well-Known Member

    I think it's a minimum of 100, but I could be wrong. I just did this a few months ago. Had available shares, but they needed to be converted first. I was not within my selling window, so I printed the form at home, filled it out, sent it in with the note like they told me, and they sent me a check within 2 weeks. Cake.
     
  10. coolslice

    coolslice New Member

    I've done it before, and I'm pretty sure the window was closed then. It seems to be closed most of the time. If drivers are group 1, then I'm ok. Last time I did it, I clicked the "sell" button and within 5 or 6 days, I had the money in my account. I did it all online and never filled out any paperwork.

    The reason I asked was because since they went from Mellon to Compushare, it stops you and tells you that you will be reported for a "closed window trade" and makes you verify that they have basically warned you of the SEC rules. It didn't do that before, but nobody ever said a word to me.
     
  11. oldngray

    oldngray nowhere special

    I thought you had to convert class A shares to B before selling.
     
  12. Marne Vet

    Marne Vet Well-Known Member

    You do.
     
  13. brownmonster

    brownmonster Man of Great Wisdom

    I just went on the Compushare website, clicked sell, done.
     
  14. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Behind the scenes, UPS may buy those shares back at market price to preserve Class "A" status.

    If you transfer shares out of Mellon (now Compushare) to sell, they are converted to "B".

    I got "advised" of this back when.
     
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  15. brownmonster

    brownmonster Man of Great Wisdom

    I believe we all got transferred out of Mellon.
     
  16. Monkey Butt

    Monkey Butt You can call me Chappy Staff Member

    Uh huh.
     
  17. brownmonster

    brownmonster Man of Great Wisdom

    Didn't see that. Whoops. Time for more Whiskey. And Oreo tort. Love when the wife is out for the evening.
     
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  18. Armanifitch4

    Armanifitch4 New Member

    why would any1 buy ups stock lol there are slot better stocks outthere then ups
     
  19. Baba gounj

    Baba gounj pensioner

    Yes, but how many can you buy at a discount ?
     
  20. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    This was a selling point when the discount was 10%-----not so much at 5%.