Disney stock question

[The Princess]

My dd has a few shares of disney stock that were gifted to her when she was born (she’s 32 now) and now she would like to sell them off but we were told that she has to have the stock certificate to do so (which she can’t find) is that true?

 

[tony67]

My dd has a few shares of disney stock that were gifted to her when she was born (she’s 32 now) and now she would like to sell them off but we were told that she has to have the stock certificate to do so (which she can’t find) is that true?

Yes and no - you do need to have the stock certificate.

That said there is a process to go through for lost certificates and you need to fill out the paperwork to get a "replacement".
The replacement is not an actual certificate as they don't print those anymore - it just exists in the "cloud".
There is a fee for this. You have to sign an affidavit and get it notarized etc..

You want to speak with https://disney.computershare.com/ . has she been getting the dividend checks and depositing them? There is probably useful info on that check stub - like an account number.

I was dealing with something similar - but for just one share of stock I inherited.
If you have the original stock you MUST give it to them - so if you have it framed as artwork they don't care - they want it.

In my case it was only one share and it would have cost at least $50 to sort it out (plus time, expenses and mailing etc..) and there was no guarantee it would be approved.

 

[tony67]

https://disney.computershare.com/#:~:text=If a stock certificate is,to our office: or call.&text=Your letter should include the,) lost, stolen or destroyed.

From the FAQ:

I have lost my stock certificates, how do I replace them?

If a stock certificate is lost, stolen, destroyed, or never received, we require a signed letter mailed to our office: or call.

Computershare Investor Services
PO BOX 43013
Providence, RI 02940-3013

Phone: 1-855-553-4763
Toll: 781-575-3335

Your letter should include the name(s) of the registered owner(s), the Disney account number, and the stock certificate number(s) lost, stolen or destroyed.

Once we receive your letter of instruction, we will mail the necessary documents to confirm ownership of shares. Requests are typically handled within 5 business days. Upon receipt of the completed documents, your shares will be held in book entry format, as we no longer issue paper certificates.

Please note: there is a fee to complete the confirmation process.

 

[fla4fun]

Didn’t they stop issuing certificates at some point though? I have my certificate for the one share I received as a gift, but was not issued for the shares I received later due to stock splits. Not that I plan to sell them . . .

 

[tvguy]

My dd has a few shares of disney stock that were gifted to her when she was born (she’s 32 now) and now she would like to sell them off but we were told that she has to have the stock certificate to do so (which she can’t find) is that true?

Depending on when she bought it, because of stock splits, it may be more than a few shares.
I bought 10 shares in 1987. After splits, that is now 120 shares. So it may be worth getting a replacement certificate because it could be worth a lot more than you thin. Do you have the paperwork that comes with your dividend checks? That could help prove ownership.

 

[_19disnA]

Didn’t they stop issuing certificates at some point though? I have my certificate for the one share I received as a gift, but was not issued for the shares I received later due to stock splits. Not that I plan to sell them . . .

I believe all companies at some point stopped issuing physical certificates and now record the ownership online/electronically. I have some shares of various companies who over the years merged with someone else and/or had stock splits and while I have the original printed/paper shares, newly issued ones whether from a stock split/dividends/mergers/etc. are all recorded electronically. Periodic statements I get show the number of physical shares I own/hold as well as those new ones only issued electronically. Any type of dividend statement you received from Disney would show the amount of shares you hold and include your account number. Every registered owner would get those at least annually in order file their tax return.

The paper certificates should be treated the same as cash. However, as someone mentioned above, there is probably a process you can follow with most companies if you have lost the physical certificates.