If you were gifted the 6 BNY stocks in 2023, friendly reminder that today is the day they become unrestricted, and the shares are now available to sell. ; )
42 replies (most recent on top)
They hide the stock exercise in the packet that are mailed to the instructions.
@18g you should be familiar with star compliance since we have a mandated certification to do every year
@18g Search for ‘personal securities trading policy’ on MySource / Eliza. Star Compliance is the website where you preclear trades. bny.starcompliance.com.
Can someone please post the specific "preclearance" procedures please? How specifically does one to this? Someone mentioned "logging the event"...., but where? Another mentioned "it is a simple query to Star Compliance email support". What is "Star" Compliance? Never heard of that before. Is there an email address or phone number or eform, etc...? Thank you.
I called in to sell mine and the man never asked about pre-clearance.
@ya you sound stupid as well. And idgaf about AI downvotes goof. Im incompetent for forced stock by bny gotcha. Tell your uncle daddy i said hi
Monitored employee designation = preclearance required
@ns Well in that case, your shares will see you at the 3 year mark then. Surely the number of downvotes you're getting should be a sign of your incompetence.
@e8 hey mo--n, it was explicitly explained they are locked for 3 years so wtf are babbling about
@f1 same day should be fine
https://www.thelayoff.com/p/@e8+1khbjw5n5
As always most of our incompetent employees lost their paperwork.
What the heck ever happened to our hiring in HR?
There is lot of misinformation being posted here
Pre Clearance is required only for certain line of businesses. Make sure you are an employee under the category. It is a simple query to Star Compliance email support
It is a requirement and violating that has serious consequences. The threat of termination is part of that. It is in the policy .. You can do a simple "Trading policy" search and even Eliza may summarize it for you
It impacts only if you are an existing employee - once you are out, I do not think your action has any bearing.
So please get it and do not risk your job for 6 BK shares in this tight labor market. And the approval is instantaneous even if you want to place a Limit Order
SELL SELL SELL!!!! Don’t leave any money in their control! Use it for fun money, open a Roth IRA, or open a brokerage account.
I too was let go in December on a Separation agreement. Sold my 6 shares yesterday. Then read about preclearance on here. Got nervous and called Fidelity. They said I was ok and didn't need it. The app wouldn't have let me sell them if it was needed.
@ev ok and how about if I sold stocks first and the same day later got the "pre-cleared" approval ? Can it cause any troubles ? TBH I wasn't sure I was the one who had to get pre-clearence.
@ev I was ‘fired’ in December. Like many here, another case of my performance rating being manipulated to ‘Did not meet’. (Despite a final review filled with praise) I’m technically still considered an employee per BNY’s policy. I have not received any communication that I need permission to sell these shares that are in my Fidelity account. How do they know what is going on in my account? The shares have matured and are available to sell, I would have no idea how to even get ‘permission’.
Meanwhile can you please explain how the stocks allocated as RSU (?) in this bonus cycle is vested and where it appears
It is not in my Fidelity account - so where are they ?
How does it vest? Like previous RSUs - 1/4 every February ?
When do we pay the taxes? When they vest? Or for 2026 Tax year even though we have not incurred the deferred income (assuming it does not go to zero)
May be you can explain ?
If one was given 1100$ (easy to calc at 110/share) and it is 10 shares spread over 4 years. So every Feb one gets 2.5 shares. But lets say the share drops to 0 - that means one paid taxes on 1100 for 2026 tax year and realized nothing. Will the 1100 be considered as a capital loss at 25% rate every year ?
We all assume it will go up.
Typically RSUs one does not pay taxes before it is vested but for the wonderful "gift" we paid it ahead of time. Lucky the stock appreciated
So how does the bonus RSU work ?
- WARNING*
If you are still an employee, please make sure you are pre-cleared for the wonderful remainder of BK shares granted 3 years ago. Failure to do will cause headaches AND may even be used as a reason to terminate for cause. (Basically, means no severance or unemployment and you are just fired for cause)
For a measly $600 do not lose your job
Fidelity will stop you from selling if they are in a restricted window. But other than that, one needs the clearance which is pretty straight forward and automatic. It is just logging that event before you push the button in Fidelity site
To those who got their 2025 bonus in stocks do you know when and where they show up in Fidelity site. I could not find mine AND am wondering when one would pay the taxes on that. The last 10 shares, 4 were sold as taxes immediately -
I do not care about BNY but IRS - I do not want to get into trouble with them for not reporting
Do we still have those shares of we were laid off last February? If so, how do we access them?
@e0 Maybe you should actually learn how things work at your workplace. Firstly, your bonus is discretionary, they can pay you any way they like - even none and you could do jack. Secondly, the shares are not all locked for 3 years. That's not how the vesting period works so stop being d-mb and entitled.
@c1 maybe you should learn to read what the conversation is cause what you’re saying makes zero sense. I’ll enlighten you. Hey ta-d i was forced to have 5% of my bonus go towards BNY stock. Therefore ta-d that means i cant do anything with those for 3 years. Just like the first 6. Got it ta-d
@ba If you actually know then please enlighten us all with your understanding.
Is preclearance still needed if i was let go in December but still being paid (separation pay) thru march? Even though i no longer have access to the network and returned my laptop? No longer working, still technically an employee for administrative purposes.
@b8 how do you figure? I think i wouls know since im one who got them forced on me
@b2 Not exactly true.
@ax compliance requirement, do log into the star portal and get pre approval before selling
@aw yep the bs forced 5 % which we cant touch for another 3 years
@ax I'm off this week, so I didn't see the email (if I got it), but that didn't stop me hitting the 'sell' button this morning. I'll ask for permission later :)
@ax so they can buy it up
If this why they just sent an email saying pre clearance is needed to sell bny stock? Why do we need pre clearance
Gifted? My share was paid out if a portion of my cash incentive. I bought them. No gift.
Just got rid of mine.. If I had 600 of them, I would probably give it more thought... but with these 6, off they go..
Wonder if they go down because ECs are selling.. It will go back up after they fire another batch of people.. then rinse and repeat.
Thank you for the reminder! This was my last piece of bullsh-t to remind me I ever worked at BNY. Sold just now. Good riddance!
Thanks for the reminder! Just sold them.
@ab they just forced more shares on us instead of giving us bonus money we earned. 5% had to go to this sh-t
@a2 march is coming so he’ll terminate more people to raise it up with all the savings
Don’t forget how we got these. These a--holes changed the match to our 401(k) so we miss out on all of those earnings all year and then after doing that very quietly boasted at least a dozen times about gifting us these poultry shares, which is only a fraction of what was stolen from us.
@a5 make sure you click BNY shares, then the sell button and fill out the ticket to sell all 6 shares
@a5 went in, clicked on the BK stock, then hit sell and filled in the info. Did it about an hour ago(830am EST)
I tried to do it this morning and it told me only the cash was available to withdraw? How did you claim it all?