Have any people who took the VSP received OXY warrants in their Morgan Stanley accounts yet?
Please no comments about how stupid it was to leave those shares there.
8 replies (most recent on top)
So in the 401k they sold the shares and now you own more shares of Oxy. It was a nice little bonus after losing so much of the price, but something is better than nothing.
OP
I’m a LOXY VSPer with 3,200 shares of OXY left in my MS account. Sold some OXY when I left in September 2019 but held off on selling all because I was already at the max federal tax bracket and didn’t need the $’s. Stupid me, should’ve dumped it all.
Anyway, to your question: not an inkling of any warrants anywhere in my MS account. Warrants won’t matter too much to me; if it goes above $20/share, I’m dumping it all.
But right now $20 looks dubious unless there’s a war in the ME.
The idea that anything at Oxy has some value is hilarious.
So today my Warrants are showing up as a dividend. Last week they were a separate line item in Voya labeled Warrants. Now they just show as a dividend and my balance went up that much.
The warrants are basically stock options with a 7 year expiration and a strike price of $22. So, if OXY stock is at $45 in 5 years from now, you exercise the option and pocket $23 per warrant that you have. I believe the warrant issuance was 1 for every 7 shares of OXY that you own. I think it was supposed to be something of value that they were giving since they eliminated the dividend. I'm not upset about the warrants. I'll take them. Like I said, years down the road, they may have some value.
LOL that MS stock option was such a bad joke. Literally almost worthless. Im not even going to bother. VH has destroyed everything valuable in Oxy. Stocks worthless, Oxy assets cant be sold for anything she paid since she took over, Oxy's legacy about to die. I give up. I guess at this point, whatever your pain tolerance to stay at this decaying company. It's so sad.
So they give us these warrants in The 401k but you cannot sell them. What is this all about?
Also there may be some implications if you cannot rollover the entire amount of the 401k if you have to leave the warrants in. It just seems like this Has not been thought well.
I have a MS account, but still work at Oxy, and have not seen them in that account. I did get them added to my Voya account for the stocks I had there.