Exactly I emailed a few times about it back in the day. Glad they took this route because if it came to preferred share as soon as it was officially announced I'd have called tda and told them to delete the shares. Imo the tax right off would've been more valuable than preferred shares.
I would have been okay with them, I have a personal lawyer who would have drawn up the transfer of shares documents.. it’s not insanely difficult just more time consuming. With that said, I do prefer cash. Especially cash on a stock I bought mostly in the trips. This is a huge win for me. Wait until I load it all into Mssv, going to be a nice ride.
They had an automatic conversion date and we still would have received a lot more than we had now. Converting them wood have been as easy as placing a phone call to your broker. I had this conversation with my broker already. They would have taken care of everything.