What is a book-entry stock?
Book-entry securities are investments such as stocks and bonds whose ownership is recorded electronically. Book-entry securities eliminate the need to issue paper certificates of ownership.
What is the difference between certificated shares and book-entry shares?
Stocks with a certificate are called certificated shares, while stocks without a certificate are called uncertificated shares or book-entry shares.
How do I transfer book-entry into shares?
Book-entry shares can be transferred without surrendering a physical share certificate. All or some of the shares held by a broker can be transferred electronically to Direct Registration. All or some of the book-entry shares can be transferred electronically from DRS to a broker and from a broker into DRS.
What is a benefit of issuing shares in book-entry form?
Holding shares in book-entry form through DRS has the following benefits: (a) It helps reduce the risks and costs associated with storing share certificate(s) and replacing lost or stolen certificate(s). (b) It enables electronic share transactions between your broker/dealer and the FFC's transfer agent, AST.
Can I sell certificated shares?
Once the certificate arrives at the brokerage firm, it could take a few days before the shares are credited to your account. Once the position shows up, you can sell the stock, remembering that you'll need to pay the commission.
Can you sell shares without a certificate?
"Can I sell shares without a certificate?" is a question many shareholders end up asking themselves. The answer is no because the certificate needs to be endorsed to be sold, but you can get your paper certificate reissued.
Can you sell book-entry shares?
You can transfer your book-entry shares to your brokerage account via the options detailed above and instruct your broker or dealer to sell the shares for you.
How do I sell book shares?
(a) As a holder of book-entry shares, you may request that Computershare sell all or a portion of your shares in writing (via your Transaction Request Form), or online at www.computershare.com or via telephone.
What is DRS in stock?
A: The Direct Registration System, or DRS, is a system that enables an investor to electronically move his or her security position held in direct registration book-entry form back and forth between the issuer and the investor's broker-dealer.
What is restricted book-entry?
Restricted Book Entry means a book entry on the Company's stock register maintained by its transfer agent and registrar, which book entry shall bear a notation regarding the Restrictions as set forth in Section 15(a) hereof and, if appropriate, a notation regarding securities law restrictions as set forth in Section 15 ...