Edit: To clarify I am asking about a exercise to sell to cover transaction
Forgive me if this is a stupid question. I've never had stock before. Who do I need to contact exactly to get a cashless exercise going? Is it normally someone through your work, or do you go straight to the broker? If the broker first, any tips?
Some background info: So where I work has recently gone public. Although we have a 6 month lock out period which is still in effect, we did receive confirmation from our underwriters that we are able to do a cashless exercise within the 180 days, under the stipulation we sell shares for no other reason until after this period. The reason this is important is because I have been laid off, and only have 90 days to exercise my options. This is why the exception was made for all affected employees.
I've already reached out to our counsel who helped me purchase shares before we went public. But considering the brokerage fees, etc. I just want to make sure I'm not an idiot during the process.
Buying shares was easy because I just handed over checks. But they constantly remind us not to seek out financial advice from our company, and I just want to verify requesting a cashless exercise doesn't require any steps my company won't be able to assist with.
Sorry for the long post, I'm just nervous/unsure and appreciate the feedback!
Submitted April 04, 2014 at 11:01AM by Incoherentrant http://ift.tt/1i7HknK
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