Stock issues for former Compaq employees (Updated Apr 8, 2022.)
Time to untangle your stock! Depending on when and how you acquired HP or HPE stock, you may now have stock in up to six completely separate HP-related companies in various accounts -- or have missed cash payouts. How many shares of which HP-related companies should I have? How much cash should I have received? hpalumni.org/stock
If you got a letter from Social Security entitled "Potential Private Retirement Benefit." Look at the "Year Reported" and the table on the back of the letter. If "Type of Benefit" is "A" -- you rolled to a different plan, bought an annuity, or took cash. How to decode and what to do: https://www.hpalumni.org/PotentialBenefitLetter.
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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
HP's purchase of Compaq was closed on May 3, 2002. Compaq shareholders received 0.6325 share of HPQ in exchange for each CPQ share -- 18% over market price. CPQ stock was retired. HWP stock symbol changed to HPQ.
HP Inc. is the legal successor to the companies acquired by Hewlett-Packard before the company was split into HP Inc and Hewlett Packard Enterprise on Nov 1, 2005. Responsibility for commitments to former employees of Compaq, DEC, EDS, etc. remain with HP Inc. -- regardless of whether their last business unit ended up in HP or HPE. Includes employment verification and any retiree health, pension, 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 stock certificates:
Compaq employee stock purchase plan:
Official HPInc public page on employee stock, including Compaq ESPP: Employee Stock and Options
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 reported by members
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.
Compaq Stock Splits
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
If formerly a regular, direct U.S. employee of HP or HPE -- or are in the process of leaving -- join the HP Alumni Association. No charge, thanks to HPAA's Supporting Members.
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