Why didn’t I receive a stock certificate for the shares of Hospira stock I received at the time of the spin-off from Abbott?
Hospira uses the Direct Registration system for its shares, a paperless form of stock ownership commonly referred to as “book entry,” that allows your shares to be held in your name and tracked electronically. You retain full ownership of your shares without having to hold a paper stock certificate. Because Hospira uses the book-entry system, at the time of spin-off, Abbott shareholders receiving Hospira stock did not receive actual stock certificates. Shares held in book-entry have all the traditional rights and privileges as shares held in certificate form. Furthermore, by keeping your shares in book-entry, you do not have to worry about protecting your stock certificates from loss, theft or destruction. Book-entry ownership also allows for electronic share transactions, such as ownership transfers, sales and moving shares to or from a broker.
Related Questions
- Why didn’t I receive a stock certificate for the shares of Hospira stock I received at the time of the spin-off from Abbott?
- How can I determine the tax basis I have in the Hospira shares received in the distribution of Hospira stock at spin-off?
- What are my choices regarding the shares of stock I received?
