Selling Overseas shares

robert187

Hi All
I've had been contributing to a share option scheme via my employer which has just matured.
The problem I have is that my employer is American (AIG Group).
Can anyone tell me the best way to sell my shares for cash? I have the certificated and have been looking at the on-line dealer but am totally confused.

Chrismaths

Your company might offer you a way to sell the shares, if not, try squaregain. They trade the US market. Just phone them up and ask how to sell a certificated US holding. BTW, you may need to fill in a form W8 (a US form for overseas shareholders) or be subject to a tax charge, but sqaregain should be able to help.

interactive brokers are cheaper, but not desperately easy to use.

Cook_County

You are confusing us all at this point.

If it is a share option scheme then you'd only get real shares when they vest AND you exersise the options.

It sounds much more like a resticted stock scheme which vests at which point you get the right to buy the stock at the price when you were awarded the right.

Assuming the latter and you have bought the stock (and paid the tax/NI) you will hold stock in a US brokerage account. I have never seen a US employer give paper stock certificates. I think you may want to double check here and report back.

robert187

Hi All
Thanks for getting back to me.
This was a company scheme, set up as a monthly contibution over 3 years. As the 3 year period is now over, I was awarded 61 shares (at the discounted price of 3 years ago). I have been sent a "common stock" certificate.
My UK company did offer me the option to sell but their local broker wanted to wait until they could sell as a large block. I really want to sell quickly as I would like to go on holiday.
Hope this is a little clearer.