Poly/Plantronics Stock Issues
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HP Inc. is the legal successor to Poly/Plantronics. Stockholder information and contact
instructions:
HPInc Investor Relations Site
https://investor.hp.com/resources/contact-ir/default.aspx (scroll down)
Merger effective Aug 29, 2022.
A check for $40.00 per share
was sent to the address in the ownership
records for each shareholding --
Where's my
stock? If the check was uncashed, the money would have
eventually been turned over to a state unclaimed property
department. See HPAA's page on
How to check for unclaimed
property
SEC filings on Poly/Plantronics stock
Restricted and performance-based stock.
From the 8K SEC report filed by Plantronics
(trading symbol POLY) on August 29, 2022
On August 29, 2022, Plantronics, Inc., a Delaware
corporation (“Poly” or the “Company”), and HP Inc., a
Delaware corporation (“HP” or “Parent”), completed the
previously announced transactions contemplated by the
Agreement and Plan of Merger, dated as of March 25, 2022
(the “Merger Agreement”), among the Company, HP and Prism
Subsidiary Corp., a Delaware corporation and wholly owned
subsidiary of HP (“Merger Sub”)
<snip>
Item 2.01. Completion of Acquisition or Disposition of
Assets.
The information set forth in the Introductory Note and in
Items 3.03, 5.01, 5.02, 5.03 and 7.01 of this Current Report
is incorporated herein by reference
At the Effective Time, each share of common stock, $0.01 par
value, of the Company (the “Company Common Stock”)
outstanding immediately prior to the Effective Time (other
than certain excluded shares as described in the Merger
Agreement) was canceled and converted into the right to
receive cash in the amount of $40.00 per share (the “Per
Share Price”), without interest and subject to applicable
withholding
At or immediately prior to the Effective Time, each of the
Company’s outstanding stock options had an exercise price
per share equal to or greater than the Per Share Price and
was therefore canceled without payment
At or immediately prior to the Effective Time, the Company’s
equity-based awards were treated in the following manner:
- Each outstanding share of restricted stock of the Company
vested in full and was converted into the right to receive
the Per Share Price.
- Each outstanding restricted stock unit of the Company (a
“Company RSU”) that was granted prior to the date of the
Merger Agreement was canceled and converted into the right
to receive an amount in cash equal to the Per Share Price
multiplied by the number of shares of Company Common Stock
subject to such Company RSU.
- Each outstanding Company RSU that was subject to
performance-based vesting conditions (a “Company PSU”) that
was granted prior to the date of the Merger Agreement was
canceled and converted into the right to receive an amount
in cash equal to the Per Share Price multiplied by the total
number of shares of Company Common Stock subject to such
Company PSU, with the number of vested Company PSUs
calculated by the Leadership Development and Compensation
Committee of the Board of Directors of the Company (the
“Company Board”) in accordance with the terms of the
applicable Company stock plan and award agreement governing
such Company PSUs.
- Each outstanding Company RSU that was granted on or after
the date of the Merger Agreement (a “Company Interim RSU”)
was assumed by Parent and converted into a restricted stock
unit of Parent (each, an “Assumed RSU”) with respect to a
number of shares of common stock of Parent (the “Parent
Common Stock”) (rounded down to the nearest whole share)
that was equal to the number of shares of Company Common
Stock subject to such Company Interim RSU immediately prior
to the Effective Time multiplied by the quotient obtained by
dividing (a) the Per Share Price by (b) the average closing
price per share of Parent Common Stock on the NYSE (as
defined below) for the ten trading-day period ending on the
trading day preceding the date of the closing of the Merger.
Each such Assumed RSU remains subject to the vesting
schedule that was applicable to such Company Interim RSU and
the other terms and conditions applicable to such Company
Interim RSU as in effect immediately prior to the closing of
the Merger.
- Each outstanding Company PSU that was granted on or after
the date of the Merger Agreement (a “Company Interim PSU”)
was canceled and exchanged for a Company Interim RSU with
respect to a number of shares of Company Common Stock equal
to the number of shares of Company Common Stock subject to
such Company Interim PSU with respect to target performance
(on a one-for-one basis), and with the same remaining
time-based vesting schedule that would have been applicable
had the Company Interim PSU been initially granted as a
Company Interim RSU, and such award was treated as a Company
Interim RSU as described above.
<snip>
Item 3.01.
On August 29, 2022, in connection with the completion of the
Merger, the Company notified the New York Stock Exchange
(the “NYSE”) that the Merger had been completed, and
requested that the NYSE suspend trading of the Company
Common Stock on the NYSE and withdraw the Company Common
Stock from listing on the NYSE prior to the opening of
trading on August 29, 2022.
<snip>
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000914025/000095010322014549/dp179027_8k.htm
(Mar 28,
2023)
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