Wisconsin Legend on Stock Certificate with Reference to Separate Document Restricting Transfer of Shares
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How to fill out Legend On Stock Certificate With Reference To Separate Document Restricting Transfer Of Shares?
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FAQ
The legends on the back of the stock certificate allow people with no knowledge of how or why the shares were issued to inform themselves quickly of whether the shares are registered with the SEC and if there are restrictions on transfer of the shares.
What Is Restricted Stock? Restricted stock refers to unregistered shares of ownership in a corporation that are issued to corporate affiliates, such as executives and directors. Restricted stock is non-transferable and must be traded in compliance with special Securities and Exchange Commission (SEC) regulations.
Fill out the recipient/new shareholders name, address, Tax ID/ Social Security number and phone number. Certificate Issuance: Designate the total number of shares to be transferred to the new shareholder and any special instructions you wish to be included.
Restricted Stock Units cannot be sold or transferred while they are subject to forfeiture. This means that the employee cannot sell or transfer the units until they are vested.
You can find out who your company's transfer agent is by contacting its investor relations department. Then, the transfer agent will have you send in any paper stock certificates you have, along with a letter of instruction to instruct it on how to change the ownership of the stock.
The purpose of the restrictive legend or notation is to protect the issuing company from loosing its private placement exemption for the initial sale of the securities and to notify the investor that the restricted securities cannot be resold into the public securities market without satisfying certain requirements.
A legend is a statement on a stock certificate noting restrictions on the transfer or sale of a company's stock. A stock legend is typically established due to the SEC's requirements for unregistered or restricted securities.
The Role of a Transfer Agent Only a transfer agent can complete the task of removing a restrictive stock legend. The transfer agent will require an opinion letter from the issuer's counsel or from his or her own lawyer plus 144 papers completed by a broker?stating that the restricted legend can be removed.
