I got laid off in Oct. It stung at first but I'm employed again and have moved my 401k and brokerage account to a Schwab competitor because well eff you schwab. I tried to move my ESP shares but it said there are restrictions...These werent awards, these were shares purchased. Is my only option to sell?
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this is sad
You can’t directly transfer them into a brokerage account, which is what you seem to be asking about. Others have provided helpful insight- you can gift them if you don’t want to sell them.
I sold mine soon after the layoff and reinvested part of the proceeds in ETFs and put some in a high yield savings account. I don’t have enough faith in Schwab’s leadership to hold them.
Are you talking about ESPP shares purchased every three months through payroll deductions? You can definitely sell them. But the shares has to stay in your equity awards account. If these are RSU or Stock Option awards, you need to exercise. However, if you didn’t do so during your 2 month periods after notification, you lose them unfortunately.
Sell off those turds!...unless you like dead money over better alternatives :-)
Purchased Shares can be gifted..Gift it to yourself, wife,kids parents etc. Do Not Leave It At Schwab. They don't have to sell.