Converting Class A stock to Class B

Discussion in 'UPS Discussions' started by surviv'n_it, Aug 4, 2010.

  1. surviv'n_it

    surviv'n_it New Member

    Has anyone ever requested to convert your class A stock in order to sell it? I am in the process of purchasing a house and decided I am better off selling some of my stock to pay off my Harley to eliminate that monthly payment while not touching my cash savings. Anyways, I paid to overnight the conversion form in which they received yesterday but as of 5pm central time today, none of the shares have been converted. Is this normal? What is the normal time frame for this? Thanks!
  2. johnoutdoors

    johnoutdoors Member

    I did it about a year ago. There is a toll free number to the office in Scranton, PA somewhere in the paperwork you downloaded, if not you can google them and probably find it. I had similar questions because of a fast closing, they were fantastic. Answered my questions right away with good explanations of why things were slower than I had assumed (my fault). It took 24 hrs after I faxed them the missing info, so it should be done soon for you. Call them and ask, Im sure they will be able to tell you what you need to know.
  3. Anonymous 10

    Anonymous 10 Guest

    It takes about a week and it will come in two seperate amounts.
  4. surviv'n_it

    surviv'n_it New Member

    Thanks for the info! I will try calling tomorrow just to make sure I did the paperwork right. Thanks again!
  5. cosmictrucker

    cosmictrucker counting the months

    I just did this a couple weeks ago. Overnighting turned out to be a waste of money since it took them two weeks to send the final check.
  6. 1989

    1989 Well-Known Member

    If you converted from class A to class B, you would only get your stock certificate. Not a check.
  7. 1989

    1989 Well-Known Member

    If you want to sell. Why waste the time to convert the shares? Just sell the damn things.
  8. surviv'n_it

    surviv'n_it New Member

    I do not meet the requirements in order to sell my Class A shares directly, otherwise I would have.
  9. surviv'n_it

    surviv'n_it New Member

    Thanks, I see that now. I am not in a big hurry however I would like my Harley paid off before the end of this month so it will be reported on my credit report.
  10. klein

    klein Für Meno :)

    All that trouble to save 5% on shares that don't move. Was it worth all that hassle ?
    Had you boughten shares privately thru automatic bank withdrawel, and shares that actually move and make profit from,
    you would have your money in your bank account within 2 days !
  11. surviv'n_it

    surviv'n_it New Member

    No, I actually stopped the automatic purchase through payroll deduction. They hold your money for a whole quarter so its doing nothing for you. The dividends are good but there are a lot better stocks out there to buy, many are far cheaper too.
  12. UpstateNYUPSer

    UpstateNYUPSer Very proud grandfather.

    Did you stop when they lowered the discount from 10% to 5%?
  13. 1989

    1989 Well-Known Member

    So true, my friend, you can get at least a 2% discount every month on the open market. Much more if you go out more than 2 months. I believe it's 3 days to settle funds in the US.
  14. dutchups

    dutchups Member

    Trying to sell my Class A stock.
    Not possible from abroad, need US-bankaccount.
    Or convert into Class B; after that selling from abroad is possible.
    Went to my bank; they say not possible to open an account in the US as a private person......
    Probably not interested in my money, so now trying an other bank, perhaps they are wiilling to help a new customer.

    Am afraid it will take some weeks before sell is possible.
    Hope stock rises in the meantime!!!!
  15. Rebos1969

    Rebos1969 New Member

    I am currently trying to sell some of my restricted shared of stocks which has just reached their maturity dates. How can I go about converting them and which forms did you use to complete this transaction?
  16. Rebos1969

    Rebos1969 New Member

    I am currently in the process of doing this myself and I am noticing that there are some others steps that are needed to complete this process. You may need to send the papers into the office due to them needing the actual signature itself and there is also the need of notary signature or a special stamp as well. Even though, this is still a very quick process and it shouldn't take more than a week before you can sell your stocks on the open market. If you are looking to sell class shares on the market without having them converted into class B shares there is still a way in order for this to be done but you need to write a letter into a board of hearing with special needs, mostly that of hardship request along with proof of state of affairs. They will decide of this within the week or so and inform you of their decision, upon which time you can then sell them as class A back to the company...Nice huh??? This will only yield a smaller amount since the company will only do this at their profit, which is to be expected.:greedy::peaceful::happy-very::grouphug:
  17. BrownChoice

    BrownChoice Active Member

    The process is easy. Call computerShare and follow the directions given. The form is available on the ComputerShare website, and be sure to have your bank on file, that way you can get funds wired. Mine took a total of 5 business days from the time they recieved my form, to funds into bank.

    its best to keep in contact with them and to give VERBAL instructions to sell and to wire funds instead of send check. Which you will always get a paper check for the fraction part of shares your selling.. Which takes 7-10days longer.

    process is simple
  18. Jojo63

    Jojo63 New Member

    Can you tell me how you can get help filling out the paperwork? I don't understand any of it! Thanks!
  19. BrownChoice

    BrownChoice Active Member

    The computershare customer service rep will walk you through it, as they did for me.
  20. Marne Vet

    Marne Vet Well-Known Member

    Go to the Computershare website, and on the loggin page you'll see forms you can download and print. There are ones you need to fill out. Once you print it, you'll fill in all the available shares to convert, and on a separate paper you can write "To whom it may concern, please convert my shares and sell immediately" They will get the form with your certificate numbers written on it, and the note, and will convert them then sell them for you. You can check the website daily to see when it's done, and you'll get the check in the mail.