Restricted Stock

[Coco]

Does anyone know anything about restricted stock issued to employees? I (the husband in the husband/wife team that is Coco) work for a company that issued restricted stock that vested a few weeks ago. Despite continued requests, the company has not done anything to convert this into market stock for me (not even sure I'm using the right terminology). I would like to sell most or all of the stock, if for no other reason than diversification. Right now, the shares represent 14-31% of the value of our portfolio as the price of this penny stock fluctuates. Seems unwise to tie that much up with my own employer.

I'm also looking for another employer. Is there any risk of forfeiting my stock if I leave before I get the stock converted, even though it's already vested?

Thanks!

[Wolf359]

Read the fine print of your stock sharing program to be sure.

However, if it's vested, it's yours.  It may still be restricted (that is, you can't sell it or cash it in right away.)  But the fact that it's vested means that if you leave employment, that amount belongs to you.

My wife left a company while still having restricted stock, but it was 100% vested.  They had it in a brokerage account which she was required to sign up for as part of the stock sharing program.  After a few years, the restrictions were released, and she could trade the stock.  At that point, all communications were with the stock sharing trustee, not the company.