Glenmede Escrow

Restricted Stock Services

If you are looking to dispose of a holding that has restrictions, we can help

Restricted Stock

The following is required for Glenmede Escrow to arrange the legend removal in accordance with Rule 144 which allows public resale of restricted and control securities subject to a number of conditions being met.

Please contact Glenmede Escrow to discuss the requirements needed for any other exemption being used.

  • Original Certificate
  • Formal request to delete the legend
  • Legal Opinion (preferably from the legal counsel of the issuer)
  • Seller’s Representation Letter
  • Broker’s Representation Letter and copy of the filed Form 144 which confirms the seller has a bona fide intention to sell the securities referred to within a reasonable timeframe after filling
  • Delivery instructions for the new certificate
  • Fees:
    • $145.00 to remove the restriction and issue new certificate
    • $4.50 to cancel old certificate
  • Courier fees if courier service is not provided by you. (Fees vary according to location)

As a non-routine item, notice of the legend removal request will be provided directly to the issuer. The issuer is allowed three business days to agree or dismiss the legend removal, though additional time may be allowed in some instances. If the removal request is not agreed to, Glenmede Escrow will ask the issuer to provide legal justification for the decision, which will be forwarded to the beneficial owner of the holding.

Transfer of Title

  • Original Certificate
  • Original Stock Power with Medallion Guaranteed signature of transferor
  • Transfer instructions, (if not fully listed on the Stock Power), which should include: full names, full addresses plus SSN or passport or other government issued ID number of each party to the transfer
  • Cost Basis Form for US holdings
  • Delivery instructions for the new certificate
  • Fee:
    • $4.50 to cancel old certificate
    • $28.00 to issue one free trading certificate
    • $30.00 to issue one restricted certificate
  • Courier fees if courier service is not provided by you. (Fees vary according to location)

Looking for a superior escrow, issuer or shareholder services experience?

We put the needs of our customers first, ahead of our own, because we appreciate and value the relationships we have with them. Our ambition is to deliver results that exceed customer expectations time after time.

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