Etrade charged 38 x 2 = 76 dollars, but no AVGO shares deposited yet.
VOLUNTARY REORG FEE VMW SHARES for 38 dollars.
CONTRA VMWARE, INC MANDATORY REORG FEE for 38 dollars.
AVGO has already dropped 6 percent from 1000 to 940.
Will AVGO or Etrade transfer my shares before Michael Dell sells ?
Contact Etrade and complain about the 38x2 fees. I did and they reversed the charges.
expense the $38 :)
If the stock remains over ! $565 IIRC you will be fine.
Kinda makes sense, but still don’t like it. More importantly the avgo stock… why etrade takes so long to release and when
This stuff has class action lawsuit all over it. I'll be the first to join.
All historical info on RSUs that are to be vest have disappeared from etrade, so you can’t even check their math when the whole thing settles down.
I’m sure Dell and Durban are not having trouble accessing their shares…
And who gets screwed? The little guys.
I was wondering about the 2x $38 fees but don't see any way around it. I think this a consequence of the stock cash choice ratio.
One fee is mandatory for reorganizing the stock.
The other fee is because we voluntarily chose to pick stock instead of keeping the default option (which would have given us cash because of oversubscription)
I tooo got the cash out, but no avgo stock. Given that the stock has turned south, not sure whether I would want to sell immediately.
OP, same here, 2x38 for the same reasons as yours. It’s frustrating and making me nervous especially since I think other brokerages have already released avgo shares. And there is no way to contact Etrade as well, no email, no chat, calls wait for hours.
RSUs are tendered by the employer. The 38 dollar fees from Etrade should be borne by employer VMware or Broadcom, for the employee RSUs.
Broadcom owes interest for the cash payment delay of one month.
Also, VMware or Broadcom owe delayed fees for releasing November and possibly December RSUs to the employees on time. 18% annual interest based on value as of 1st November.