Mike, If the restrictions expired on the BAM/BORK shares and you received the BORK shares prior to August 22, 2012 (Bourque Industries Company's securities were put under a Chill.) you could have deposited them with the Depository Trust Company for full trade-ability.
Restricted stock, also known as letter stock or restricted securities, is stock of a company that is not fully transferable (from the stock-issuing company to the person receiving the stock award) until certain conditions (restrictions) have been met.
What are restricted shares of common stock? A restricted stock refers to unregistered shares of ownership in a corporation that are issued to corporate affiliates such as executives and directors. Restricted stock is nontransferable and must be traded in compliance with special SEC regulations.
What are restricted shares of common stock? A restricted stock refers to unregistered shares of ownership in a corporation. Restricted stock is nontransferable and must be traded in compliance with special SEC regulations.
When can you sell restricted stock? You cannot sell or transfer your restricted stock awards until they vest. Once an award vests, all restrictions are lifted and the stock is released to you to hold, sell or transfer.
Chill
Restrictions placed on a given security by the Depository Trust Company (DTC).
Owned by many financial companies including the New York Stock Exchange (NYSE), the DTC acts as a clearinghouse for stock exchange securities, settling trades in corporate and municipal securities. If the DTC has cause to be concerned about a specific security currently processed through its system, it may place a "chill" status on the security. This will restrict brokerages' ability to transfer the shares or units of the security through DTC.
Brokerage
Broker-dealer
From Wikipedia, the free encyclopedia
In financial services, a broker-dealer is a natural person, company or other organization that engages in the business of trading securities for its own account or on behalf of its customers. Broker-dealers are at the heart of the securities and derivatives trading process.[1]
Although many broker-dealers are "independent" firms solely involved in broker-dealer services, many others are business units or subsidiaries of commercial banks, investment banks or investment companies.
When executing trade orders on behalf of a customer, the institution is said to be acting as a broker. When executing trades for its own account, the institution is said to be acting as a dealer. Securities bought from clients or other firms in the capacity of dealer may be sold to clients or other firms acting again in the capacity of dealer, or they may become a part of the firm's holdings.
In addition to execution of securities transactions, broker-dealers are also the main sellers and distributors of mutual fund shares.
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The posts contained on my (gotmilk) account are my own opinions and are not recommendations or advise to buy or sell any security, stocks or other investments. These posts are for entertainment purposes only and are not considered to be facts or truth.
