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Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Family Law
Satisfied Customers: 17526
Experience:  B.A.; M.B.A.; J.D.
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Second opinion] - Can preferred stock owned by the Husband

Customer Question

Second opinion] - Can preferred stock owned by the Husband be awared to the Wife as part of financial settlement legal proceedings.
JA: Okay, I'll connect you to the lawyer to discuss this further with you. Before I do, is there anything else you want him or her to know?
Customer: Yes, same question applies to Husband also owing Restricted Stock, as a company partner and Board Director
Submitted: 22 days ago.
Category: Family Law
Customer: replied 22 days ago.
Have paid but not received my legal response!
Customer: replied 22 days ago.
From either of the above!
Expert:  Phillips Esq. replied 18 days ago.

Hello: This isCustomer Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

Expert:  Phillips Esq. replied 18 days ago.

Can preferred stock owned by the Husband be awared to the Wife as part of financial settlement legal proceedings

Response 1: Yes. Preferred stockholders share the same characteristics as common stockholders. However, they are paid dividends before the common stock holders. The preferred stockholders usually do not have voting rights. There are no restrictions placed on the stocks that would prevent them from being transferred to someone else.

Response 2: No. The restricted stock cannot be transferred because of the restriction on rights. This usually means that the stock must vest before the stockholder owns the stock outright.