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UPS Discussions
annual report and shareholder ballot
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<blockquote data-quote="vin" data-source="post: 185766" data-attributes="member: 9475"><p>My understanding of owning UPS stock is that stock purchased through DESPP (discounted employee stock purchase program) is handled through Mellon. If you have money deducted from your check each week (or however ofthen you get paid in management), you get as many shares as you can at the end of the quarter at a 10% discount. Unfortunately I don't remember how the discounted rate is determined- its not the price the stock closed at the last day of the quarter. You can also purchase additional shares during the quarter although with no discount. As far as I know, shares purchased through Mellon are the only way to own A shares.</p><p></p><p>As far as I know, the only time Mellon charges a fee is when you sell, $10 for as many as you want, as Channahon said. If you are still an active employee, this is definitely the way to go.</p><p></p><p>ups79- if you are retired and an IRA is your only option, I can't be much help. You could try to set up an IRA at a discount brokerage like E*trade or TD Ameritrade and do a rollover. Your shares would most likely convert to B shares if they are A shares now however, although I am not 100% sure about that.</p></blockquote><p></p>
[QUOTE="vin, post: 185766, member: 9475"] My understanding of owning UPS stock is that stock purchased through DESPP (discounted employee stock purchase program) is handled through Mellon. If you have money deducted from your check each week (or however ofthen you get paid in management), you get as many shares as you can at the end of the quarter at a 10% discount. Unfortunately I don't remember how the discounted rate is determined- its not the price the stock closed at the last day of the quarter. You can also purchase additional shares during the quarter although with no discount. As far as I know, shares purchased through Mellon are the only way to own A shares. As far as I know, the only time Mellon charges a fee is when you sell, $10 for as many as you want, as Channahon said. If you are still an active employee, this is definitely the way to go. ups79- if you are retired and an IRA is your only option, I can't be much help. You could try to set up an IRA at a discount brokerage like E*trade or TD Ameritrade and do a rollover. Your shares would most likely convert to B shares if they are A shares now however, although I am not 100% sure about that. [/QUOTE]
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