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Stock issues specifically for former EDS employees (Aug 21, 2024)
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Stock Menu. Keep up with HP/HPE-related stock issues: Join HPAA at no charge. Question? Email: info@hpalumni.org
See all our information for EDS alumni -- pension, career, benefits, networking, EDS history/culture -- whether or not you ever worked for HP: https://www.hpalumni.org/eds
Received a "Potential Private Retirement Benefit" letter from Social Security? How to decode the letter and who to contact, if necessary: Potential Benefit letter If the Plan Name is "EDS Payroll Stock Ownership Plan" stay on this page, which describes how EDS stock was retired.
Summary: EDS stock was retired in 2008. You were sent a check for $25 per share at the time. Details below.
Legal successors and company names.
EDS sale to Hewlett-Packard. Due to declining growth and profits, EDS stock was down to $19 -- from $72 in 2001. EDS management and board negotiated the sale for $14 billion -- $25/share, a 32% premium. Completed Aug 26, 2008. EDS stock was retired. Checks for $25/share sent. EDS was temporarily structured as a subsidiary, "EDS, an HP Company." On Sep 23, 2009, it was renamed "HP Enterprise Services."
HP Breakup. On Nov 1, 2015, the legal name of the Hewlett-Packard Company was changed to HP Inc. and a new, completely separate company – Hewlett Packard Enterprise (green-rectangle logo; no hyphen) – was spun out. Portions of HPE were later spun out into DXC and Micro Focus, which have spun out other companies. Details: HP Breakup
HP Inc. is the overall legal successor to companies acquired by Hewlett-Packard before the company was
split into HP Inc and Hewlett Packard Enterprise on Nov 1, 2015. In general, responsibility for original commitments to former U.S. employees of Compaq, DEC, EDS, etc. remain with HP Inc. – regardless of whether their last business unit ended up in HP or HPE. (Canada and UK: HPE. Other countries vary.
Country-by-country details)
To check for lost stock and uncashed checks: https://www.hpalumni.org/Unclaimed. Electronic Data Systems was originally incorporated in Texas. In 1984, it was reincorporated in Delaware. (For unclaimed property related to the 1984-1996 ownership of EDS by General Motors, check Michigan.)
EDS stock was retired. Checks for $25/share sent. HP's instructions to regular EDS shareholders in Aug 2008:
"HP
has acquired EDS for $25.00 per share in cash... If you are a registered holder, you should be receiving a package
of materials from BNY Mellon Shareowner Services within a week or
two with further instructions on exchanging your stock certificates.
Payment for your certificated shares should be sent within a few
business days after receipt of your documents by BNY Mellon... you
will need to submit your stock certificates along with a Transmittal
Letter to BNY Mellon Shareowner Services. ... Do not send your stock
certificates to EDS or to HP."
"All other holders should contact your broker."
--from the HP Investor Relations site, as
retrieved by the Internet Archive
[Computershare bought the
Mellon stock registry business in 2012. Computershare Investor
Services: 781-575-2000. 150 Royall Street - Suite 101, Canton, MA
02021]
If you have paper stock certificates. What to do: https://www.hpalumni.org/StockCertificate Note that it is possible that the shares were cashed out by declaring to the transfer agent that the certificate was lost.
Official HP public page on employee stock, including EDS ESPP: HPInc Global Total Rewards
Official HPE public page on employee stock, including EDS ESPP: HPE Global Total Rewards
HPAA member advice on EDS stock: EDS stock is no longer traded. Where's my stock?
Plan administrators, transfer agents, and brokerages vary significantly in how (or if) they track gain/loss and cost basis for the many complex HP-related stock events – and what (if anything) they report to the IRS. Issues with major brokers
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
EDS Stock Splits
Record date and event:
February 14, 1992 2 for 1 split
February 16, 1990 2 for 1 split
May 16, 1985 2 for 1 split
September 1968 IPO
--from 2015 copy of HP website on
Internet Archive
Last four EDS Annual Reports For EDS SEC filings, go to the SEC's EDGAR site
EDS annual reports on HP website: HPInc site
EDS stock price history on third-party website: http://www.1stock1.com/1stock1_175.htm
EDS and General Motors. In 1984, EDS was sold to General Motors. In 1996, GM spun out EDS as a separate public company. Wikipedia has links to contemporaneous news stories.
"...on June 8, 2009... Common stock holders in the old General Motors were essentially wiped out... Shares of the old GM are canceled." --Matt Krantz, USA Today, Apr 30, 2013.
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