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Step 1. Stock Overview    2. Stock Decoder    3. Where's my stock?    4. Check for lost stock    5. Other issues    6. Cost Basis    7. Taxes    Map of Stock Pages


2a. Perspecta spinoff    

Part of our step-by-step Stock Recovery Process to find and protect your stock. If you haven't gone through the previous steps to determine which of seven HP-related stocks you should have, start here:   Employee Stock

(Updated Aug 26, 2021.) Website operated by former employees. Comments welcome. Do not send personal information to us. info-stock@hpalumni.org

Also see this page if you ever worked for  Perspecta

PRSP was bought by privately-held Federal IT contractor Peraton. Peraton paid $29.35 cash in exchange for each Perspecta share. PRSP shares have vanished from your account. Either cash was added to your account or check mailed by approx. 6/2/21. Some non-US members report that their bank charged a very high currency conversion fee when they deposited the check.

Perspecta had 14,000 employees. Peraton previously bought part of Northrop Grumman. The resulting company has 22,000 employees -- 7,500 with Top Secret clearance. VirginiaBusiness news story    new company structure

It does not appear that small shareholders were individually notified of the completion of the sale. News Release

What happens next depends on where your PRSP shares are held -- which, unless you moved them, will be at the same place your DXC shares are held (because  DXC and Perspecta have chosen the same transfer agent.)

- If held in a brokerage account (Fidelity, Merrill Lynch, etc), the shares vanished from the stock section of your account and cash was added to the cash section of your account.
Notation on a typical brokerage account: "Perspecta Inc Reg Shares Cash merger pay date 05/07/2021"
If questions, contact your broker.

- If held by Perspecta's Transfer Agent (EQ Equiniti shareowneronline.com), the shares vanished from your EQ account and a check is being mailed to your address of record:
Check wording: "05/20/2021. Cash Entitlement on Exchanged Shares... merger of Jaguar Merger Sub Inc. and Perspecta Inc.. 
If questions on shares held at the transfer agent, contact EQ Shareowner Services at 1-800-468-9716 or 1-651-450-4064 -- M-F 7am to 7pm Central time.

Sequence of related stock events from HPAA Stock Decoder Table:

2008-08-26

HP bought EDS. EDS shareholders received $25 in exchange for each EDS share. EDS stock was retired.

2015-10-21

HP spun off Hewlett Packard Enterprise.. HPQ shareholders received 1 share of HPE per HPQ share owned. Hewlett-Packard Co. renamed HP Inc.

2017-03-20

HPE Enterprise Services business spin/merge with CSC, creating DXC. HPE shareholders received 0.086 share of DXC per HPE share owned.

2018-05-25

DXC U.S. Public Sector business spin/merge with two other companies, creating Perspecta. DXC shareholders received 0.5 share of Perspecta per DXC share owned.

2021-05-06

Perspecta bought by Peraton. Peraton paid $29.35 cash in exchange for each Perspecta share. PRSP shares have vanished from your account. Either cash was added to your account or check mailed by approx. 6/2/21.

 

Previously... On May 25, 2018, DXC spun out its 6,500-employee U.S. Public Sector Business and merged it with 3,800-employee intelligence community contractor Vencore and 3,700-employee background investigation firm KeyPoint to create Perspecta.

Perspecta is a completely separate company from DXC -- not a successor corporation to DXC.

If you owned DXC shares on May 25, 2018, you were issued shares in a new company called "Perspecta" -- with corresponding adjustment in value of your DXC shares. (This is not reflected in the HPAA's stock cost basis spreadsheets.) Stock details - 5/7/18 and SEC filing

To check for lost stock: Perspecta is incorporated in Delaware


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 HPAlumniteam has developed a step-by-step process to find and protect your stock. Employee Stock


Background:  Announcement - 10/11/17 and Transcript      Press release - 3/8/18      Press release - 6/1/18

Cost basis: DXC/Perspecta merger tax documentation  

"...you will not recognize income, gain or loss as a result..."  DXC/Perspecta tax basis letter 

Your broker may have used a different formula than the one suggested in the Cost 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.

Note 1. Yahoo Finance charts do not always accurately reflect stock splits and other events.

Stock information and contacts:

Perspecta transfer agent (and distribution agent for the spin/merge) is Equiniti.  (Source)
EQ Shareowner Services
P.O. Box 64874
St. Paul, MN 55164-0874
Phone: 800-468-9716

DXC: Check both official DXC pages:  Primary      Employees and Alumni

Unexpired HPE options: If you had unexpired HPE stock options and were transitioned to DXC, the HPE options in your Merrill Lynch account may have vanished in April 2017 -- with no notification. The HPE options were converted to DXC options and placed in a new Fidelity account. Presumably, something similar will be done for people transferred to Perspecta.

Fidelity: :If you have an existing HP 401(k) or personal brokerage account at Fidelity, go to http://netbenefits.com and use your existing username and password. Otherwise, call Fidelity at 1-800-457-4015 -- select "ESPP" -- on any business day (except NYSE holidays) between 8:30 a.m. and midnight Eastern time. Outside the U.S., call 1-508-787-9902 collect.

Peraton corporate address:   (Source)
12975 Worldgate Drive
Herndon, VA 20170-6008
P (703) 668-6000


If you were formerly a regular, direct employee of HP or HPE -- or are in the process of leaving -- join the HP Alumni Association. Membership is also open to heirs with HP-related stock and to those receiving company benefits -- spouses, partners, dependents, DEC and EDS retirees. 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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