Welcome to the knowledge center, please read through the information of frequently asked questions for answers to the common inquiries. For real time transactions and updates utilize the Shareholder Portal or Interactive Voice Response system for most common tasks.
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The Uniform Commercial Code (UCC) entitles transfer agents and corporate issuers to receive signature guarantees to protect them against fraudulent and unauthorized transfers. Securities and Exchange Commission (SEC) regulations define the financial institutions that are eligible to provide such signature guarantees, e.g., commercial banks, brokers, credit unions, savings and loan institution. Signature Guarantee Programs have been developed and eligible financial institutions which subscribe to such programs are issued "Medallion Guarantee Stamps." Transfer agents are obligated to ensure that such stamps appear on the transfer documents and are entitled to refuse a transfer of shares if a signature is not guaranteed with a stamp.
The stamp is imprinted with special ink used in validating its authenticity. The provider of the stamp or guarantor reviews documentation provided by you, the signer, and by issuing the stamp, warrants at the time of signing the signature was genuine; and the signer was an appropriate person to endorse the signer had legal capacity to sign. The guarantor institution should verify the medallion stamp is sufficient to cover the value of assets being transacted upon. A notary stamp/seal or consulate stamp is not acceptable when transferring the ownership of stock.
While there may be a fee associated with obtaining an MSG, most banks and brokerage firms provide this service free of charge to their customers. Contact your financial institution to determine if they offer this service. More information about MSGs can be found at http://www.stai.org/medallions_outside_the_us.php.
DRS Book-Entry shares are electronic shares held within your account outside of an offered Dividend Reinvestment or Direct Stock Purchase Plan. DRS Book-Entry shares are not represented in physical form as a stock certificate.
For your convenience, when you include your stock certificate(s) with any written, Broadridge will deposit the shares represented by the certificate(s) into DRS Book-Entry format and the original certificate(s) will not be returned to you. This action will help facilitate future transactions by allowing your shares to be immediately available for sale, transfer or exchange. Depositing certificates avoids the possibility of the certificates becoming lost or damaged with subsequent correspondence.
A DRS transfer can only move whole shares. If the option to move all shares is selected during the DRS transfer process, the fractional share that remains in the account, if one exists, will be automatically sold. The sale of the fractional share will be subject to any applicable sale and brokerage fees and participation in Plan will be terminated.
When surrendering the original stock certificate(s), for your security, please do not sign the back. We recommend that all certificates be mailed to Broadridge through USPS registered mail or a courier service that provides a return receipt. It is suggested that the shipment be insured for 2% of the current value of the shares for domestic shipments and 4% of the current value if the package is originating overseas.
Your transfer request must be submitted by mail and cannot be accepted via e-mail or fax. The completed Legal Transfer Form, the original stock certificate(s) (if applicable), and supplemental documentation (if required) may be mailed to the following address for processing:
Broadridge Corporate Issuer Solutions
P.O. Box 1342
Brentwood, NY 11717-0718
Broadridge Corporate Issuer Solutions
1155 Long Island Ave.
Edgewood, NY 11717-8309
In the event of loss, a surety bond will be required to replace the certificates. A surety bond is typically obtained by paying a premium to the surety company equal to 2% or 4% of the current value of the shares requiring replacement in addition to a Lost Securities Replacement fee. If your stock certificates cannot be located and need to be replaced, you may obtain a surety bond from our independent insurance provider, The Chubb Corporation, or you can secure one on your own. Once you notify us of your certificate loss, we will initiate the process for you and then ask that you finalize the paperwork and submit the appropriate payment for processing.
The full registration of the new or existing account should be spelled out in its entirety in section 10 of The Legal Transfer Form.
There are a number of account registrations you can request when establishing a new account. As defined by the Securities Transfer Association, acceptable formatting references for commonly requested account types are provided below. Click the hyperlink to view the completed registration example in a separate browser tab.
|Individual Ownership - Single owner.|
|Joint Tenancy - Form of ownership where two or more individuals hold shares as joint tenants with right of survivorship. When one tenant dies, the entire tenancy remains to the surviving tenants.|
|Estate - Registered indicating a personal representative, executor, or administrator.|
|Custodial - A custodial registration contains the name of only one custodian or guardian and a single minor.|
|Add a Transfer on Death Beneficiary - Registration in Transfer on Death form shall be indicated by the abbreviation "TOD". The designation "POD" or the words "payable on death" shall not be used. If the registration is a TOD designation and the owner is alive, then only the owner's endorsement is required to effect the transfer, the endorsement of the TOD payee is not required. Permitted TOD Beneficiaries: (a) The beneficiary of a TOD registration may be an individual or other entity. (b) Only one beneficiary per registration may be designated by the security owner. (c) No designation such as Lineal Descendants (LD) or Lineal Descendants Per Stirpes (LDPS) will be permitted.
When asking to create a Transfer on Death account, be sure to provide the full account registration and not just the requested beneficiary.
|Trust - A trust registration usually includes (i) the name(s) of the trustee(s), (ii) the name of the trust or the name of the Grantor, and (iii) the original, not amended date of the trust.|
The following is required for transfer of a security from a foreign decedent in addition to a Medallion Signature Guarantee (MSG)*:
Unless the following applies:
Then, Broadridge will require the following:
*Broadridge, as a member of the Securities Transfer Association, processes transfers according to the guidelines of said institution with respect to the applicable subject matter. Therefore, the above information is subject to change.