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To: Terry Whitman who wrote (24506)6/21/2000 8:17:00 AM
From: Gersh Avery  Read Replies (2) | Respond to of 42787
 
I do.

I bought stock in a company that had decided to award stock owners with a gift of stock. Two additional shares for every one that a person owned as of a set date. I bought, expecting to be the owner of the extra shares. I did not receive them.

I bought the stock the day before the listed date. Because of T+3 I wasn't qualified to receive the extra shares.

This was a weird move. It wasn't a split, but a dividend.



To: Terry Whitman who wrote (24506)6/21/2000 10:30:00 AM
From: jjs_ynot  Read Replies (1) | Respond to of 42787
 
You are the owner of record as of the settlement date, not purchase date.

I was trying to understand what was considered settlement for purposes of various forms of distributions.


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