which doesn’t make to me, anyone have same experience.
22 replies (most recent on top)
Called ETrade and they confirmed that they have a database issue. The are fixing it now. It should not be showing a negative balance.
VMw employees, go to yr etrade account, gains and losses.
You can see fraction avgo share sold.
#vmv shares x 0.521 x 0.252
Why here, caus BC made slack readonly
Chapter 3 ("NRA") Withholding tax was recently debited from your account in the amount shown below.
Did anyone else in EMEA get this from E-Trade? Nasty as it is no doubt the cash option getting ripped off by US Tax - (NRA = Non Resident Alien). Its a massive chunk and when you look at RSU's overall, they really boil down to pittance when you want to get access to 'real' cash.
No email or message explaining things, just a negative brokerage balance. Super awesome
Since another portion is in cash, selling the stock this year may not be suitable for your tax situation.
The delay is to allow the 'preferred shareholders' to exit their holdings quickly before the rest of us gain access to our AVGO shares.
Also, there will be fees from eTrade that you'll need to factor in to your transaction's total value, once you able to sell shares next week. Be ready to trade as soon as the market opens.
"Each VMware share is worth about $197 after the conversion."
Subject to change, of course. Once everyone can trade again, then AVGO sell-off can start.
I logged into mine as well and it has a negative balance. looks like things are progressing. Thanks OP for the heads-up. This is what the E-trade rep who called a few months ago said would happen.
My E*trade is still showing $0 so guess they’re getting through them all gradually
Each VMware share is worth about $197 after the conversion.
"Received notification that 48% of my shares converted to Broadcom. (was expecting 52%, looks like rounding is not in my favor)"
Looking at my E-Trade account, it shows unrealised gains. I suspect what you are seeing is the amount to be converted to AVGO, not the cash portion.
"Received notification that 48% of my shares converted to Broadcom. (was expecting 52%, looks like rounding is not in my favor)"
I have the same allocations. If not everyone elected stock (iirc 96% of participants did), how could our allocations be < 50%. Shouldn't 50% be the minimum allocation we should receive given the structure of the deal?
Received notification that 48% of my shares converted to Broadcom. (was expecting 52%, looks like rounding is not in my favor)
In the conversion, 4 shares of VMW converted to 1 share of AVGO. (0.25 conversion applied instead of 0.252, not sure who is pocketing the difference Etrade or AVGO).
And Etrade charged 38 USD extra fee for reorganization.
"I also logged in to my E*trade account and it’s showing a negative balance of VMW share that I owe aka negative $$$ amount, very strange "
Same. Assume it will work out on Monday. Look at transaction detail and you'll be able to see how many VMW shares were converted to $ and how many to AVGO, along with the number of AVGO shares you got. All of those transactions should clear on Monday, and then the amounts will be right. You're catching it mid-stream is all.
I also logged in to my E*trade account and it’s showing a negative balance of VMW share that I owe aka negative $$$ amount, very strange
I received the stock but not the cash. Fidelity.
I logged into e-trade because of this and my total assets are -30k. It shows in the transactions everything that happened ie vmw shares tender payment prorated 50 something %, etc etc I accepted shares… don’t know what is going on at all lol. Have to wait for corporate actions Monday morning.
I also have received 52.06% in AVGO stock and rest in cash. Cost basis is properly accounted for in AVGO shares.
I also got my cash / avgo shares, but only for extra shares I’d purchased through Fidelity. I guess it depends on the broker how long it takes.
Total BS. There is no activity ever recorded in bank accounts over weekend days.
Did you receive an email notification or did you see it when you logged into your stock account?
he is bluffing, faker, F'off, Troll, fishing for information nothing more.
Did you receive an email notification or did you see it when you logged into your stock account?