Replies to post #2491 on Beyond, Inc. (BYON)

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OSTK Shareholder Information
The Overstock.com, Inc. Board of Directors approved the issuance of a shareholder dividend in the form of the new Digital Series A-1 Preferred Voting Stock, OSTKO, on July 25, 2019.

Shareholders may have questions regarding this dividend issuance. In response, Overstock.com, Inc. has prepared the below list of key information pertinent to this announcement and a list of frequently asked questions (FAQs) and answers.

If, after reviewing the below information, you still have specific questions regarding the dividend, the company has set up a dedicated support team to assist investors on this topic.

The dedicated investor support team can be reached by calling 1-833-895-1554 M-F between the hours of 8 AM (ET) and 4:30 PM (ET).

Key Information

Dividend Details:

The Overstock.com, Inc. Board of Directors approved the issuance of shareholder dividends in the form of the new Digital Series A-1 Preferred Voting Stock OSTKO on July 25, 2019

Dividends will be paid out at a ratio of 1:10, with one share of Digital Series A-1 Preferred Voting Stock OSTKO issued for every ten shares of common stock, Series A-1 or Voting Series B Preferred Stock held on the record date.

The Record Date for this dividend will be Sept. 23, 2019

The Payment Date for this dividend will be Nov. 15, 2019

Information on Digital Series A-1 Preferred Voting Stock OSTKO:

Overstock.com, Inc. announced the creation of the Digital Series A-1 Preferred Voting Stock OSTKO via press release on June 27, 2019.

Release Link: Overstock.com Issues New Digital Voting Series A-1 Preferred Stock, OSTKO:

The Digital Series A-1 Preferred Voting Stock OSTKO can currently be traded on the alternative trading system (ATS) operated by PRO Securities, LLC, a subsidiary of Overstock.com, Inc.

Investors must open a brokerage account with Dinosaur Financial Group, LLC (“Dinosaur Financial ”) to trade the Digital Series A-1 Preferred Voting Stock OSTKO on the PRO Securities ATS.

Until you open a Dinosaur Financial digital brokerage account, your dividend shares, once issued, will reside in an omnibus digital custodial wallet maintained by Overstock.com, Inc. You will not be able to trade the shares without a brokerage account with Dinosaur Financial.

Frequently Asked Questions (FAQ):

Do I qualify for a dividend in the Digital Series A-1 Preferred Voting Stock OSTKO?

If you are a shareholder of record on the Record Date of Sept. 23, 2019, you will receive a dividend based on the number of shares owned on that date.

How much will I get for the dividend?

Dividends will be paid out at a ratio of 1:10, meaning that one share of Digital Series A-1 Preferred Voting Stock OSTKO will be issued for every ten shares of common stock, for every ten shares of Series A-1, or for every ten shares of Voting Series B Preferred Stock held as of the record date.

How much is one share of OSTKO worth?

The value of a dividend share is the current market price for the OSTKO on the PRO Securities alternative trading system (“ATS”), operated by PRO Securities, LLC.

How are shares of Digital Series A-1 Preferred Voting Stock OSTKO different from my Common Stock in Overstock?

The Digital Series A-1 Preferred Voting share is a preferred share and a separate class of stock from the company’s Common Stock, which trades under the OSTK stock ticker. The Digital Series A-1 Preferred Voting Stock, which trades under the ticker OSTKO, has similar rights to the common share and has a dividend preference if one is declared by the Company. For more information, please review our public filings with the SEC.

How do I claim my Digital Series A-1 Preferred Voting Stock shares?

To claim dividend shares, investors can set up an account with Dinosaur Financial or their dividend shares will reside in an omnibus digital custodial wallet maintained by Overstock.com, Inc.

Can I transfer my Digital Series A-1 Preferred Voting Stock shares to someone else?

The dividend shares of Digital Series A-1 Preferred Voting Stock have not been and are not required to be registered under the Securities Act of 1933 or applicable state securities laws. No trading of your dividend shares may occur until the time period for the exemption under Rule 144 expires. The applicable Rule 144 holding period varies depending on your individual circumstances. In general, if you are not an affiliate of Overstock.com, Inc., it is six months from the payment date. If you are an affiliate of Overstock.com, Inc., it is 12 months from the payment date. Please keep in mind that once investors are allowed to trade the dividend shares of the Digital Series A-1 Preferred Voting Stock OSTKO, they will need to do so with a brokerage account with Dinosaur Financial and on the PRO Securities alternative trading system (“ATS”).

If I don’t want to set up a Dinosaur Financial account, is there any other way to claim my shares?

Until you open a Dinosaur Financial digital brokerage account, your dividend shares, once issued, will reside in an omnibus digital custodial wallet maintained by Overstock.com, Inc.

What happens if I do nothing?

Your dividend shares of Digital Series A-1 Preferred Voting Stock will be transferred and held in an omnibus digital custodial wallet maintained by Overstock.com, Inc.

Is there a deadline to setup my Dinosaur Financial account and claim my shares of Digital Series A-1 Preferred Voting Stock?

No. There is no deadline or time requirement to setup an account with Dinosaur Financial. The shares are yours when they are transferred on the payment date to an omnibus digital custodial wallet maintained by Overstock.com, Inc.. However, you will not be able to trade your shares until you set up a brokerage account with Dinosaur Financial.

When will the shares appear in my account?

The shares will be placed in a digital custodial wallet on the Payment Date of November 15, 2019.

Can I move my Digital Series A-1 Preferred Voting Stock shares to my brokerage account?

They may only be transferred to your brokerage account at Dinosaur Financial.

When can I trade my Digital Series A-1 Preferred Voting Stock shares?

The dividend shares of Series A-1 have not been and are not required to be registered under the Securities Act of 1933 or applicable state securities laws. No trading of your dividend shares may occur until the time period for the exemption under Rule 144 expires. The applicable Rule 144 holding period varies depending on your individual circumstances. In general, if you are not an affiliate of Overstock.com, Inc., it is six months from the payment date. If you are an affiliate of Overstock.com, Inc., it is 12 months from the payment date. Please keep in mind that once investors are allowed to trade the dividend shares, they will need to do so with a brokerage account with Dinosaur Financial and on the PRO Securities alternative trading system (“ATS”), operated by PRO Securities, LLC (“PRO Securities”).

Who do I contact if I have trouble setting up my Dinosaur Financial account?

If you have any questions on account setup on Dinosaur Financial Group's security token trading website, http://dino.tzero.com, please email the Dinosaur Financial team directly at [e-mail].

Who do I contact if I have general questions about my shares of Digital Series A-1 Preferred Voting Stock?

If you have specific questions about the dividend, or about claiming your shares, please contact Overstock.com, Inc. at 1-833-895-1554 M-F between the hours of 8 AM (ET) and 4:30 PM (ET).

Who do I contact with general information on my shares, or for other investor-related questions about Overstock.com, Inc?

If you have other investor-related questions regarding Overstock.com, Inc. please contact the company’s Investor Relations team at [e-mail].

Are Overstock shares held in 401(k) accounts eligible to receive the dividend?

Yes. Shares held in 401(k) accounts are eligible to receive the dividend but may be subject to additional restrictions.

Are Overstock shares held in IRA accounts eligible to receive the dividend?

Yes. Shares held in IRA accounts are eligible to receive the dividend but may be subject to additional restrictions.

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original post/link courtesy of drobx

Here is good information from Overstock about the logistics of the preferred dividend:
https://help.overstock.com/help/s/article/Shareholder-Information
For example, it addresses the case where you don't have a Dinosaur account.