FAQ
- How do I transfer my shares to someone else?
- Do I have to sign the back of my stock certificate?
- What is a Medallion Guarantee?
- What if I cannot obtain a Medallion?
- Where should I send my transfer documents?
- Do I have to send my original certificate for transfer?
- Is there a fee for transferring stock?
- Why is my stock stamped restricted?
- How can my restricted stock become free-trading?
- How can I get a legal opinion?
- Is a legal opinion required to release the restriction from my shares?
- Do I have to sell my stock in order to release the legend?
- Where can I learn more about Rule 144?
- How do I replace my lost certificate?
- Why is a surety bond required to replace a lost certificate?
- Why do I have to provide an Identification Number?
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QUESTIONS ABOUT TRANSFERRING STOCK
A: Send your stock certificate, Medallion Guaranteed stock power, instruction letter, and payment to our office. See the Shareholders tab for more details.
A: To transfer shares, the certificate must be endorsed by the registered owner. This can be accomplished two ways: Option One: Sign the back of each stock certificate and obtain a Medallion Guarantee. Option Two: Sign ONE stock power to represent all of the certificates you are presenting for transfer and obtain a Medallion Guarantee. If you are NOT changing the registration of your stock, and instead are submitting your stock for an exchange or denomination change, you do NOT need to sign the back of your certificate or stock power.
A: In basic terms, a Medallion Guarantee is a guarantee that the signature on a stock power or endorsed stock certificate is indeed the signature of the registered owner of the stock. The Medallion stamp is bright green in color, and can be obtained at most local banks and large brokerage firms. Click here to learn what the SEC says about medallions.
A: If you live in the US, you are required to obtain a Medallion Guaranteed signature stamp on your stock certificate endorsement or stock power. However, if you live outside the US and it is impossible for you to obtain a Medallion, a notary or other equivalent signature guarantee is acceptable.
A: Please send all transfer packages to our physical address. If you need to send additional documents to us, please reference your unique batch number on each document and send to our physical address. All documents other than physical certificates and stock powers can be emailed to inbox@cleartrusttransfer.com
Q: Do I have to send my original certificate for transfer?
A: Yes. For the security of your stock, all transfers and cancellations of stock require original stock certificates and original endorsements &/or stock powers.
A: Yes. Please contact us for assistance in calculating the fees owed.
QUESTIONS ABOUT RESTRICTED STOCK
A: If your certificate has a red stamp on the front or the back, it is restricted under Rule 144. Stock that is issued directly from an issuer or acquired by affiliates of an issuer are restricted unless there is a registration or safe-harbor exemption that allows them to be sold. Rule 144 provides provisions for shareholders to sell restricted stock by releasing the legend once certain provisions are satisfied. See our Restricted Stock section to learn more.
A: You have two options. You can either contact the issuer's retained legal counsel, or you can contact outside qualified securities counsel. There are multiple sources eager to write your legal opinion, and it is important that you choose an attorney who is knowledgeable about Rule 144 and who will conduct due diligence concerning your eligibility prior to writing you a legal opinion. At the end of the day, you (the shareholder) are solely responsible for complying with Rule 144. Our recommendation.
A: Yes. Rule 144, as amended on February 15, 2008, incorporates several provisions concerning your eligibility to sell under Rule 144. Pursuant to industry standards, a legal opinion is required prior to releasing the legend from any shares under Rule 144, regardless of how long it has been owned.
A: Rule 144 is written to allow a legend to be removed pursuant to an intended or actual sale of stock. Therefore, if you apply to release the legend from your shares, you will be required to sign a Seller's Representation Letter stating your intent to sell the stock.
Q: Where can I learn more about Rule 144?
A: We recommend you review the SEC's website for the most direct information source. Also, you should consult with qualified securities counsel. In addition, there are a variety of useful resources available on the web. Click here for more information.
A: Yes. Please contact us for assistance in calculating the fees owed.
This FAQ is a work in progress. More Coming Soon!
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