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Stock issues for former Compaq employees (Updated Jun 9, 2021.)
Time to untangle your stock! No one but you really cares about your employment-related stock. You may have had stock in up to seven HP-related companies. Your stock may not all be in the same place or be registered to your current postal address. You may need to retrieve lost stock, dividends, or cash payouts, find stray accounts, or estimate your cost basis. An HP Alumni team has developed a step-by-step process to find and protect your stock. Employee Stock
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See all of HPAA's information for Compaq alumni -- whether or not you ever worked for HP: https://www.hpalumni.org/compaq
2002-05-03 Compaq was sold to HP. Compaq shareholders received 0.6325 share of HPQ in exchange for each CPQ share. CPQ stock was retired. HWP stock symbol changed to HPQ
HPInc is the legal successor to the companies acquired by the Hewlett-Packard Company before the company was split into HPInc and Hewlett Packard Enterprise (HPE.) Responsibility for any commitments to former employees of Compaq, Digital, and Tandem remain with HPInc -- regardless of whether the employee's last business unit ended up in HPInc or HPE. This includes employment verification and any retiree health coverage, pension, 401(k), etc. plans. (About the HP Breakup)
Instructions that CPQ shareholders received at the time of the acquisition of Compaq by HP -- including what to do with physical Compaq share certificates: https://www.hpalumni.org/StockCompaq-Letter
Compaq employee stock purchase plan:
Official HPInc public page on employee stock, including Compaq ESPP: HPInc Global Total Rewards
Advice from HPAA members who were on the Compaq employee stock purchase plan:
- If you bought CPQ shares under the Compaq employee stock purchase plan, those shares were automatically converted to HPQ shares at the time of the merger. Unless you have sold or transferred them, the shares (and your corresponding new Hewlett Packard Enterprise shares) are being held by the last administrator of the plan, Morgan Stanley Smith Barney -- which is no longer being paid by the company for this work. Postal address: Morgan Stanley Wealth Management, 411 Borel Avenue Suite 220, San Mateo, CA 94089.
- To transfer your Compaq ESPP HPQ shares (and your corresponding new HPE shares) from Morgan Stanley to another financial institution at no charge, you can either: Go to https://www.stockplanconnect.com and download the stock transfer forms for faxing to Morgan Stanley -- or send an email to firstname.lastname@example.org -- you will immediately receive a "deleted without reading" autoreply and, later, a personal reply with instructions and forms.
- Morgan Stanley customers are getting different results from different divisions of the company -- depending on whether they were participants in the Compaq Employee Stock Purchase Plan or had transferred their HP stock to a personal account at Morgan Stanley's local-office-based retail brokerage division. Morgan Stanley issues
Selling HPQ shares online is still possible at https://www.stockplanconnect.com . However, selling HPE shares can only be done by calling 1-800-367-4777 or 1-801-617-7414.
Tax basis. Your broker may have used a different formula than the one suggested in the tax basis letter provided by the company -- resulting in a somewhat different value. Check your brokerage account online -- or by examining a recent account statement -- to view your holdings in each stock going forward. HP/HPE tax basis letter
For more mutual help on this topic and many others, join the independent HP Alumni Association. If you were formerly a regular, direct employee of HP, HPInc, or HPE -- or are in the process of leaving -- join the HP Alumni Association. No charge, thanks to HPAA members.
As financial, legal, and personal advice must be tailored to the specific circumstances of each case, and finances and laws are constantly changing, nothing provided here should be used as a substitute for the personalized advice of competent financial, legal, and personal advisors.
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