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Independent volunteer group. Not officially endorsed or supported. |
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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 |
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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, start here: Employee Stock (Updated Jul 22, 2021.) 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.
- 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: Sequence of related stock events from HPAA's Stock Decoder:
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 HP Alumni team 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) 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.
Perspecta corporate address: (Source)
Phone: 571.313.6000 |
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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. © 2021 Hewlett-Packard Alumni Association, Inc. • By using this site you accept these terms • Operated by former employees who volunteer their time. Not officially endorsed or supported by any company. |
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