The United Parcel Service (UPS) offered 109,400,000 shares on the NYSE on November 10, 1999. Since that time, UPS has offered its stock in 2 different versions: Class "A" and Class "B." Class "A" is designated for employees and retirees of UPS only, and is not negotiable. Class "B" is designated for all others, and is negotiable. Therefore, for a retiree or employee to sell his stock, he would need to convert to class "B."
Converting the Shares
Step 1
Find a copy of your latest statement. You may need to call your broker or the transfer agent, NY Mellon Shareowner Services, to retrieve the document. NY Mellon Shareowner Services' web address is www.bnymellon.com/shareowner. The dedicated toll free number for shareowner services is 888-663-8325.
Step 2
Give your broker or transfer agent a call. Tell them that you would like to convert your non-negotiable, class "A" shares to negotiable class "B" shares. They will typically give you a time frame of four to six weeks for completion of conversion. They should also inform you that with that conversion, your votes per share would be reduced from 10 votes to one vote per share.
Step 3
After you wait four to six weeks for the process to be completed, you can then sell the shares if you wish. Again, call your broker or the clearing agent to accomplish this.