Depending upon which party is processing your payment (the Paying Agent vs. the company), the answer to this may vary.
If you submitted a Letter of Transmittal (LOT) at closing to the Paying Agent, then payments will be sent to you by the Paying Agent in accordance with the payment instructions you provided within the Letter of Transmittal at closing (unless you have since provided updated details). If you are uncertain whether you requested a check or wire, please reach out to the Paying Agent in connection with your transaction. Alternatively, you can submit an inquiry to us via the Help button (including: your mailing address and bank account information). Our Support Team is happy to look into this for you.
If your payment is being processed directly by the company at closing, then the method of payment to you will depend upon how the company has set up payments to be processed (either via company payroll, via check to the mailing address on file, or possibly via ACH or wire using the payment details on file). If you are uncertain whether the company has updated payment instruction information on file for you, please reach out to them directly. Alternatively, you can submit an inquiry to us via the Help button (including: your mailing address and bank account information) and we will be happy to pass this along.
Depending upon which party processed your payment (the Paying Agent vs. the company – per above), the answer to this may vary.
Once the Paying Agent receives a properly completed Letter of Transmittal, it typically takes them 3 – 5 business days (excluding weekends and holidays) to process. Payments issued by check will take an additional 7 - 10 business days (excluding weekends and holidays) for mail service delivery. In most cases, the Paying Agent sends checks via USPS standard mail, unless specified otherwise. The LOT should provide an email contact or phone number for the Paying Agent that you can use to reach out and confirm the status of your specific payment.
The timing and method of payments processed by the company varies depending on the transaction. We suggest contacting the company directly in order to confirm how it is being sent and when expected.
You may request a replacement check by submitting an inquiry using the Help button. We do ask that you wait at least 10 days from when the original check was mailed before requesting a replacement check.
The payment method for Optionholders usually depends on whether or not the optionholder was an employee (either current or former) of the selling company. Typically when distributions are made at closing (as well as post-closing for escrow releases and earn-outs), non-employee optionholders are paid in the same manner as the stockholders, receiving their payment from the Paying Agent (and would receive a 1099) while employee (current or former) optionholders receive payment from the surviving corporation or Buyer (and would receive a W-2 form), even after they leave the company.
If you have any questions, please reach out to the individual or department at your company that manages the option plan.
