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Stock issues for former EDS employees (Updated May 10, 2021.)
See all of HPAA's information for EDS alumni -- pension, career, benefits, networking, EDS history/culture -- whether or not you ever worked for HP: https://www.hpalumni.org/eds
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
2008-08-26 EDS was sold to the Hewlett-Packard Company. EDS shareholders received $25 in exchange for each EDS share. EDS stock was retired. ($13.9 billion -- a 32% premium over the market price of $18.86 before announcement. NYTimes )
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 EDS 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)
To check for lost stock: 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.)
HP's instructions to regular EDS shareholders:
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?
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 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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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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