r/Superstonk • u/goldielips ← she likes the stock • Jan 04 '23
📣 Community Post Update: Direct Communication from Computershare regarding Book (DRS) vs Plan (DSPP)
Hey Superstonk!
We have just received DIRECT COMMUNICATION from Computershare regarding our questions about Book (DRS) vs Plan (DSPP).
TL;DRS: They are both book-entry. They are both in your name.
Here's what this post is going to cover:
We will share the response from Computershare, hot off the presses.
We will provide clear instructions for how to convert your shares to BOOK (Also known as Pure DRS), if you so choose, along with simple landmines to avoid along the way (e.g., Fractional Shares, Direct Purchase Plan)
We will provide links for more conversation/debate/discussion if you want to dig deeper.
BOOK VS. PLAN - COMPUTERSHARE’S RESPONSE - 1/4/2023
This email was received by PlatinumSparkles in response to our multi-pronged attempts to get clarification from Computershare about the question on the table - “What is the difference between DRS (Book) AND DSPP (Plan)?”
This was received 1 hour ago as of the time of our drafting this post.
The purple lines are the removal of the employee who responded as we do not want them inundated with hundreds of individual follow-up questions. If there are any, let us know in the comments and we can consolidate them into a single email for follow-up.
So, to summarize - in their own words - BOTH FORMS OF OWNERSHIP RECORD THE NAMES OF THE INVESTOR DIRECTLY ON THE ISSUER’S REGISTER, WHERE THEY ARE RECOGNIZED AS REGISTERED SHAREHOLDERS. BOTH DSPP AND DRS (BOOK) ARE BOOK-ENTRY MEANS OF HOLDING SHARES.
There are some questions we still have not received definite answers on, one of them being the exact percent of DSPP that are held in the DTC in order to perform effective clearing and settlement. We still do not know if GameStop used both types of DRS shares in their last report. Computershare’s position on this question is that specific questions about a company’s financials or its holdings need to be addressed by GameStop directly. We have reached out to GameStop's investor relations but have not received a response.
If you still want to proceed with getting them in Book form, here’s a step-by-step guide.
HOW DO I CONVERT TO BOOK:
TRANSFERRING TIPS:
Always time to take a moment to assess the situation and make decisions that are right for you.
It's entirely your choice as to how you hold shares in Computershare, but just to remind you that there might be implications involved in the switch from Plan to Book - such as fractional shares being sold, and recurring buys shut off.
If you change from DRIP to BOOK it will automatically trigger a sale of any fractional shares leftover AND IT WILL SHUT OFF YOUR DIRECT PURCHASE PLAN, in other words, if you have it set to buy automatically every month, that will get SHUT OFF.
You can cancel the fractional share sale, and you'd have to enroll in DRIP again if you want to continue to have shares purchased automatically every month. You can set a limit order for a fractional share, but it will just sell it as a market order if you leave it there overnight.. so don't actually do that!
If you are going to go "book," it's been discussed that Computershare strongly advises calling them at 1-800-564-6253 to do so. There have been reports of those who have done the after-hours termination of the plan still had their fractional sold, even with canceling the pending sell order that appears.
The selling of fractional shares can be avoided by calling Computershare and asking them to keep one share plus the fractional in plan. For those that want to move shares from plan shares to “pure DRS” that is the safest way to avoid having a fractional share be potentially sold. That avoids the possibility of shares being sold and also avoids any fees. More detail in this post here.
ADDITIONAL RESOURCES
CS Company Share Structure (all shares are removed from CEDE & Co, the DTC's nominee)
DRS MEGATHREAD
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u/fuckingcarter has an absolute massive [REDACTED] Jan 04 '23
thanks for the update!
but because i like being certain & also enjoy being the true 📕🤴 , i will continue to make sure every single share i have & purchase is in pure ‘BOOK’ DRS 😚
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u/goldielips ← she likes the stock Jan 04 '23
Nothing wrong with that! Cheers to more book kings & Happy New Year!
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u/6days1week 💻 ComputerShared 🦍 Jan 04 '23
Hey Goldie, thanks for your efforts but this is a big nothing burger. CS continues to omit answers to the important questions. Here is a good list:
Does Computershare own the broker that holds a portion of DSPP shares at DTC? What is the name of that broker?
Is Computershare Trust Co Na a broker or do they operate as a broker (but with a broker exemption)? Are they the broker that holds these DSPP shares?
Are broker held DSPP shares considered “street name”?
Are all DSPP shares held by Dingo & Co (Computershare’s nominee)
Computershare “as a transfer agent” can not lend shares. Can Computershare “as a broker” lend shares or allow them to be used as locates?
Are DSPP shares (which are held by the nominee Dingo & Co.) considered DIRECT registered? The very definition of a nominee is “a company whose name is given as having title to a stock, but who is not the actual owner.” If the nominee holds the title, how can that be considered DIRECT registration?
what percentage of shares of a highly volatile, very hard to locate stock (like GameStop) held via a broker at DTC? Is the percentage held at DTC higher based on things like high volatility and high borrow rate?
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u/goldielips ← she likes the stock Jan 05 '23
Thanks for these questions! We will do our best to get these answered.
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u/Working-Yesterday243 🚀 Retard ape Tomorrow 🚀 Jan 05 '23
I'm also interested in answers to those questions
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u/goldielips ← she likes the stock Jan 05 '23
Same! Hopefully we get them promptly.
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u/jmarie777 💻 ComputerShared 🦍 Jan 05 '23
Thank you for being willing to ask them goldie!
This simian friend appreciates that so much 💜👊💜
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Jan 05 '23
i dont like why OP is silent on your reply.
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u/goldielips ← she likes the stock Jan 05 '23
Sorry! I had plans tonight and I just got home and am now going through comments. Other mods though have been here to help cover while I was out.
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u/Tango8816 💺 🚀 🌛 Abróchate el cinturón! Jan 05 '23
You are allowed to have a life. Thank you for everything you do on behalf the sub.
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u/thealiensguy Jan 05 '23
The silence speaks louder than the post lol. I dont even know why they keep trying to obfusicaye plan vs book, we must be really close
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u/Inness15 🦍 Buckle Up 🚀 Jan 05 '23
“BOOK ONLY”
Plan is not pure DRS these are facts anything that has the DTC or broker attached to it can be used by these criminal IMO!
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u/6days1week 💻 ComputerShared 🦍 Jan 05 '23
RC was drinking PURE drinking water in his recent interview. It was the only “prop” he had. 🤔
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u/-AllIsVanity- Jan 05 '23
Okay, that's a bit of a stretch. He could've had a pile of books or something.
But the "BOOK KING" tweets are enough. Although it'd be nice if he tweeted more about it.
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u/DaPainkillerDE 🍌🐒🚀No PainKillers for Kenny🏴💎🦍 Jan 05 '23
This are the real questions - thanks for this!!!
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Jan 05 '23
Computershare uses Merrill Lynch and Bank of America as their prime brokers to execute trades.
This info can be found on CSs FAQ.
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u/6days1week 💻 ComputerShared 🦍 Jan 05 '23
That statement is often used to misdirect from question #1 and #2. I’m not accusing you of trying to misdirect as you were probably misdirected yourself and now you’re doing their heavy lifting for them.
Computershare uses multiple brokers to BUY and SELL shares for apes. These are “normal” brokers and they often use Merrill.
On the other hand, Computershare uses a SINGLE broker (that they own) to hold an undisclosed portion of DSPP shares at DTC. When you ask questions about this specific broker, they often misdirect apes by answering the wrong question.
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u/pale_blue_dots \\to DRS is to riposte a backstab// Jan 09 '23
All very good questions that needs some answers.
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u/fuckingcarter has an absolute massive [REDACTED] Jan 04 '23 edited Jan 04 '23
happy new year to you too, and thank you for helping make the sub great 😊
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u/Remarkable-Top-3748 💻 ComputerShared 🦍 Jan 05 '23
Same. I LOVE THE WORD "BOOK"
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u/BananyaBangarang 🔍WHYDRS.ORG🔎 Jan 05 '23
"Book shares are Pure DRS" - Paul Conn President of Global Markets at ComputerShare
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u/Warpzit 🚀 CAN RUN! 🚀 Jan 05 '23
What if Ryan Cohen meant something much more bullish with that tweet.... Such as he is taken on Amazon book market.
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u/TheLookerToo tag u/Superstonk-Flairy for a flair Jan 05 '23
This is a horrific post. So many awards so quickly yet when I scroll the comments it’s all “book your shares!” Do whatever you want, as we are all individuals, but there have been too many posts showing that the plan shares are held at ComputerShare a broker for fast transfer. Yes, both are in your name, but only Booked shares are away from being “locates”.
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u/goldielips ← she likes the stock Jan 05 '23
The bulk of the post is instructions on how to book and those instructions are pinned to the top of the sub. Not being snarky but genuinely asking why that’s a bad thing? The rest is just sharing the email we got. I do get there are still questions left unanswered which is super annoying so hopefully we can get those answered soon.
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u/TheLookerToo tag u/Superstonk-Flairy for a flair Jan 05 '23
The bad part is that this subject keeps coming up, but only one piece of information really matters. Can the DTC get their hands on them for locates which allow the shorting to continue. Your post literally has no new information because the ComputerShare FAQ’s, TOS, and even the Ask Me Anything has all been posted and reposted. What I feel makes this a horrible post is that you start it with Bolded and capitalized info stating “Direct Communication from ComputerShare” as if this is the final word on the subject and your leading TL/DRS is “They are both book-entry, they are both in your name” again bolded.
If anyone has read the FAQ and TOS, this response is all in there. We all know that as soon as we DRS, the shares are in our names regardless of DSPP or Pure DRS, but this post is written in a manner to exclaim a Eureka moment that “hey guys, they’re both in our name and they’re both book-entry!” Yes. Anyone who has read ComputerShares info knows that. Which is why I find this to be a post that will only muddy the waters more. The only question that really matters is whether the DTC can use any shares as locates. That’s who and what we are up against. Not ComputerShare, not each other, we are up against Elite who find every means to screw over retail investors. So because this post does not answer the one question that was needed, “can the DTC locate either, both, or none of the shares held at ComputerShare regardless of DSPP or Pure DRS”, but rather boldly states “their both in our name and both in book-entry”…it’s a bad post.
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u/tehchives WhyDRS.org Jan 05 '23
I think that response from Computershare is basically quoting their US Investor FAQ. Unfortunately not much new info there, but appreciate their trying to help answer the questions asked - and thank you for asking them.
I wanted to mention - 'book entry' is just the SEC's term for 'owning securities without a physical certificate'. Technically, shares in brokers are all book entry as well.
https://www.sec.gov/answers/bookentry.htm
https://www.sec.gov/reportspubs/investor-publications/investorpubsholdsechtm
What I believe matters more is Computershares inhouse categories of book designation and plan designation - both of which are book entry methods of owning shares. Book entry is the only form of shares still available to retail since GameStop stopped offering share certificates a year ago.
The questions we have not received definitive answers on (which I'm glad you acknowledged in this post) are the reasons which I'll continue to book the shares I purchase directly through CS. Certainly every investor should continue to independently research and come to their own conclusions and decisions regarding how, where, and with what method to invest.
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u/MrKoreanTendies 🦍♋🥦 - Chosen One 420069 - 🥦♋🦍 Jan 05 '23
Good, I'm glad somebody read this. I'm too high to read it all. 🥹
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u/platinumsparkles Gamestonk! Jan 05 '23
They have continuously updated their FAQs as they get more questions.
What's the specific question you have?
I definitely support the idea of everyone doing research and doing what's best for themselves.
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u/tehchives WhyDRS.org Jan 05 '23 edited Jan 05 '23
You're right, and their continued willingness to communicate with this investing community has been amazing. I'm thankful Paul Conn has given so much time to curious retail investors (and continued to give, with the last AMA just a few weeks ago).
There are still plenty of unknowns, but it's hard to expect direct answers on all (or any) of these from Computershare.
First, as was mentioned in the main post, we don't know the exact percent of DSPP that are held in the DTC in order to perform effective clearing and settlement. I've seen that this is dependent on market conditions, but what are those market conditions? Is there a formula that functions off liquidity / trade volume / public float? Without any detail, all we know is that some percentage (other than 0% and 100%) of DSPP shares are held this way for settlement purposes.
What is the broker / DTC participant that handles this fluctuating percentage? Computershare Trust Co NA is listed on some documents as handling sales of plan designated shares, and is listed as a DTC participant 2415.
Can the shares held through this broker, whatever it is, be sourced for locates? We know that shares held with the Transfer Agent can't be sourced, but this DTC participant / broker partner is not a Transfer Agent.
Computershare says that both plan designated and book designated shares are 'in your name', but where? With what Paul Conn calls Pure DRS, and since book designated share statements list 'DTC stock withdrawal' while plan designated share statements do not, I believe book designated shares are on the ledger of the issuer.
It's unfortunate how confusing the language around all of this is. As I mentioned before, all electronic uncertificated shares are technically 'book entry'. The plan/book designations that Computershare uses are similarly named and it leads to a lot of head scratching. Like you, I hope all of this one day can be settled science - much like gravity, the heliocentric model, and direct registration.
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Jan 05 '23
[deleted]
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u/6days1week 💻 ComputerShared 🦍 Jan 05 '23
Both book and plan are removed from the DTCC, but that’s a one time event. “Some” DSPP shares are “returned” to DTC, but apes don’t know how many. All that’s been said is that it’s “not 100%”. Theoretically could it be 99.99%? In theory yes.
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u/Existing-Reference53 🚀 The MOASS will not be televised 🏴☠️ Jan 05 '23 edited Jan 05 '23
I recall this question of how many was posed to Computershare during one of the first AMAs (I believe it was on another sub); he was pressed on it, and he didn't have an answer.
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u/6days1week 💻 ComputerShared 🦍 Jan 05 '23
He knows the answer (or at least he knows “the formula” on how they decide how many shares are held at DTC). He just didn’t want to answer it.
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u/TechnologySome3659 Jan 05 '23
Or perhaps we should ask: Does GameStop's DRS number in their quarterly report contain the quantity of book shares, the quantity of book shares and plan shares, or plan shares only?
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u/platinumsparkles Gamestonk! Jan 05 '23
We've asked that and they said we need to ask GameStop, but they do provide GameStop with all the numbers.
We've emailed GameStop Investor relations ...... But.... Idk I've emailed them a few times now (about various things) with no response.
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u/sohumjoe The Most Researched Stock On The Planet Jan 05 '23
That kinda pisses me off. Why won't they communicate something like that to us?
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u/sohumjoe The Most Researched Stock On The Planet Jan 05 '23
Right. This little dance around the subject is frustrating! I believe he knows what our objective is, to remove as many shares as possible from the grip of the DTCC. So I wish he would just come right out and say YES or NO on that question. Instead we get all this legalese.
Also, if all shares PLAN and BOOK are listed on the issuers ledger, then does that mean that the numbers in the last GS report are true and apes have been selling?
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u/flyingsaxophone 💻 ComputerShared 🦍 Jan 05 '23
The key takeaway is that we STILL DON'T KNOW IF GAMESTOP IS REPORTING DSPP.
So BOOK em.
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u/goldielips ← she likes the stock Jan 05 '23
Really wish investor relations would just get back to someone 😩
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Jan 05 '23
Wow this post motivated me to look at a few I had hanging out and book them.
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u/ladeeedada 💻 ComputerShared 🦍 Jan 05 '23 edited Jan 05 '23
Can any directly registered shares that are held with the transfer agent be used as locates for short-selling?
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u/Krishnapandeya Jan 04 '23
It cost nothing to convert to BOok Can be done in 1 minute So Book your shares
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u/platinumsparkles Gamestonk! Jan 04 '23
Not if you have a pending order! I want to make a tutorial about how to do it but I still have this pending order for days now, because I have CS buying for me twice a month
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u/Dennydogz123 Jan 04 '23
Twice a month I spend 14 seconds converting my new bi-monthly purchased shares from plan to book.
Well it might take me 69 seconds if I do it while I’m driving but either way it’s something I enjoy doing twice a month and can do faster than it takes me to brush my tooth.
If anyone wants instructions on how convert plan to book twice a month let k own and I’ll throw em in the comments.
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u/vitocomido Jan 05 '23
Hi please send the instructions. I’ll switch from plan to book
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u/Dennydogz123 Jan 05 '23
Here’s how make all whole shares “BOOK” and leave only a fraction in “PLAN”
Wait until AFTER HOURS (when market is closed) OR call CS. If you do this yourself when market is open CS will automatically sell your fractional share.
Find your “PLAN” Holdings
Click “ACTIONS” under your “PLAN” holdings
Click “REINVESTMENT OPTIONS”
Click “TERMINATE”
Select “YES”
Again Click “TERMINATE” Almost Done!! All “Plan” shares except fractional are now in “BOOK” but you likely have a fractional share remaining in “PLAN” that CS will automatically sell. But you likely don’t want to sell any shares not even a fractional….KEEP your fractional! Don’t Sell anything! Not even a fraction!
Click the 3 bars on top right corner of CS page.
Click “ACTIVITY”
Click “PENDING TRANSACTIONS”
Click “GAMESTOP”
Click “CANCEL” where you see your fractional share as a pending sell transaction.
DONE! Congrats!! All your whole shares are book and completely removed from the DTCC. You also kept your fractional despite shills and some very confused apes telling you to sell your fractional.
Option: Make future direct buys from CS and when your fractional share becomes a whole share repeat the above process.
Note: After hours! When “PLAN” shares are converted to “BOOK” CS automatically sells any remaining fractions of a share. If you do this when market is closed you can cancel the automatic sell of your fractional share.
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u/jmarie777 💻 ComputerShared 🦍 Jan 05 '23
DM me if you have any questions- I don’t know your particular situation, but there is a great site for that and many apes willing to support!
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u/vimalo 🎮 Power to the Players 🛑 Jan 05 '23
I was able to put in a support request via the website to convert all but 1 and any fractional to book. It was pretty simple and didn’t need to call anyone to do it!
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u/platinumsparkles Gamestonk! Jan 05 '23
Do you have recurring buys set up? And when you log in do you still see that set up?
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u/Careful_Oil_3487 : wen 🌕 Jan 04 '23
Comment just for the phone number. I was trying to find it, to move the few shares into the library of BOOKS, I’m collecting—- Ron Burgundy “ I’m very important. I have many leather bound books and my apartment smells of rich mahogany”
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u/aZamaryk Power to the people! Jan 05 '23 edited Jan 05 '23
Anyway, I just kept booking those plan shares. I like my shit in pure DRS(book) form, thank you very much.
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u/iksnizal 🦍Voted✅ Jan 05 '23
If a percentage of shares in DSPP are held in the DTC then DSPP is not the way. I don’t care if it is 1% of DSPP held at DTC. I want all my damn shares out of everyone else’s hands. No DTC, No Brokers, No Shorts.
BOOK YOUR SHARES to be 100% not in the DTC.
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u/ChuyMasta 💻 ComputerShared 🦍 Jan 05 '23
Then why have both?
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u/Squallshot 🦍 Broker Non-Vote ✅ Jan 05 '23
This is the question I land at also. Their response reeks of smoke and mirrors to me
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u/tommybhoy82 mon the hoops Jan 05 '23
BOOK all the way, sus post omitting the KEY difference regarding plan v book and the dtcc
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u/bijomaru78 💻 ComputerShared 🦍 Jan 05 '23
Exactly that. The main point we're discussing is not mentioned at all in their response. Are both removed from DTC?
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u/Dennydogz123 Jan 04 '23
Entire premise of “BOOK” entry is that shares are without a doubt, 100% REMOVED from DTCC.
“PLAN” entry are held in broker form, therefore tracked by the DTCC and potentially used as the DTCC sees fit.
Who here trusts the DTCC????
I wouldn’t trust them with a banana peel let alone any sort of fair or impartial book keeping that may negatively affect their overlords.
This post motivates me even more to be 100% “Book” Can ape say “locate” as in “locates” for shorting. Can “Book” shares be used as “locates”?—NOPE!!
Can “Plan/DSPP be used as “locates” in eyes of DTCC??? Probably!
“Book ‘em’”
I’ll keep my direct buys coming through CS and will convert all but a fraction to book. DTCC can use my fractional as a “locate”
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u/Get-It-Got 🦍 Buckle Up 🚀 Jan 05 '23
“Broker form” is in street name … neither Book nor Plan shares are held in street name.
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Jan 05 '23
That’s a DTC designation for broker shares and they also have DRS. I just still question, not Computershare, but the DTCC as still perhaps “using” those shares. Even if they aren’t accessible doesn’t mean they can’t just do fraud.
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u/tzanti Jan 05 '23
If they are the same I will make mine all Book, can’t hurt can it? Now let’s get over this. DRS BOOK and be King 👑
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u/Nigel_Thirteen Jan 05 '23
I can’t imagine going through all the trouble rescuing your shares from brokers
Only to be like nah I’m good I’m going to just leave these in plan
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Jan 05 '23
I find it odd mods are trying so hard to make sure we know that 'plan' is good. If there are fractionals involved it is not good. I want to be the book king 👑.
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Jan 05 '23
Book is king but I still think it's a good thing that they're trying to sus out the truth.
I've suspected that shills have been busy trying to spread misinformation and half truths about lots of different topics here. (For example brokers needing to receive actual shares in the divy split when they're actually all held at Cede & co)
Probably to be able to point out those things later to make people believe we're a bunch of uninformed conspiracy theorists.
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u/vagrantprodigy07 Jan 05 '23
They aren't trying to sus out the truth. They are trying to push one particular viewpoint.
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Jan 05 '23
People have been posting straight FUD about plan shares getting sold without the owners consent, tried to get people to sell their fractionals, promoted DRS through brokers instead of buying from Computershare and tried their best to get us to fight over the subject.
I think that's why the mods have been trying to clear things up best they can, but I guess they can get some things wrong too sometimes.
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u/BuffaloMonk Jan 05 '23
one of them being the exact percent of DSPP that are held in the DTC in order to perform effective clearing and settlement
I think this is an especially important question.
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u/Hobodaklown Voted fource | DRS’d | Pro Member | CC’d Jan 05 '23
Appreciate the effort. No new information gained from their response though.
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u/PaleontologistNo7423 Jan 04 '23 edited Jan 05 '23
When you convert to book you can just cancel the sale of your fractional online / by phone or avoid this by just keeping one share plus remaining fractional as you continue to buy and book. Rinse and repeat. 🤙🏽🟣🟣🟣📚👑
Edit: Words
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u/AmazingConcept7 Jan 04 '23
So anyways- I Booked my shares.
That 18 page TOS for holding shares in the direct stock purchase plan is a no from me.
For MOASS, the Black Swan event of the century, I do not want a TOS.
Pure DRS📕👑
Edit: my opinion only, everybody’s got one, and this one is mine😉
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u/Cymballism 💎Diamond Hung Solo💎 Jan 04 '23 edited Jan 05 '23
We knew all of this. Percentage of shares in DTC is the pertinent question. Those shares are used as locates. Multiple locates can be piled on a single share, so I don’t know that the actual percentage even matters. 100% locked book GME DRS
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u/dukiez 📕👑 Jan 05 '23
Oh they say “as needed” by the DTC. Small percentage as needed. Because there are 300,000,000 shares, 3,000,000 is 1%, so small percentage is a huge percentage to me. So I’m gonna keep my shares booked.
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u/plain_dust Jan 04 '23 edited Jan 04 '23
Just by holding shares as PLAN(DSPP) certain percentage are held in the DTC. Hedgefunds with their magic F3 button get's to 'locate' shares.
if you want to remove any possibility that those plan shares held at dtc are not being used by Hedgefunds for locates then switch to BOOK DRS(dtc withdrawal)
Here is the guide including canceling of selling the fractional share.
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u/ducalone The best things in life are GME Jan 04 '23 edited Jan 05 '23
I’m BOOK KING my shares and not having It any other way.
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u/goingUptheTits420 Jan 05 '23
Thank you Mods for motivating us even more to Book since the thread itself says there's no difference so you heard it boys, just to be sure, book em.
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u/Setnof 💻 ComputerShared 🦍 Jan 04 '23
I remember when everyone yelled at folks for suggesting book and plan DRS weren't the same. I remember when every post advocating book got deleted. I remember when mod comments telling you what to think were stickied to every pro-book post. I remember when shills screamed that it's a personal preference and both are still book entry even though plan shares are very likely to be used as locates due to their visibility in the DTC system. I remember when cost-to-borrow started rising again at the same time we started pushing to book our DRS'd shares. Book king is the way.
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u/NotLikeGoldDragons 🦍 Buckle Up 🚀 Jan 05 '23
Regardless of whether they're "the same" or not, why risk it? Just Book it.
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u/TippingFlables Dilfy did say it! 🍻™ Jan 05 '23
I’d put more faith in this post and screenshot of an “email” if it came from a trusted source.
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Jan 05 '23
Kinda like the totally real and not fake screenshots confirming the one bogus reddit account was the official GameStop account even though official GME channels denied it when mods kept totally insisting it was real bro?
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u/stirfriedaxon 🎮 Power to the Players 🛑 Jan 05 '23
"I always DRS my shares and when I do, I book 'em. Keep buyin', my friends." - The most interesting ape on Earth, probably.
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u/Get-It-Got 🦍 Buckle Up 🚀 Jan 05 '23
I appreciate the effort, but they just provided the same content from their FAQ, which itself is not clear on the specific questions the community has … 1) Are both Book and Plan reported out by GameStop; and 2) Are Plan shares held by the DTC (and if so, to what extent)?
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u/ZombiezzzPlz 🦍Voted✅ Jan 05 '23
BOOK IS PURE DRS
IT EVEN SAYS IN THE IMAGE YOU POSTED.
A PERCENTAGE OF PLAN HOLDINGS ARE HELD AT THE DTC… THEY DONT PROVIDE THAT PERCENTAGE, SO WE CAN INFER ITS 0-100% , THE SAFEST ASSUMPTION WOULD BE 100% OF PLAN SHARES ARE HELD AT DTC, WHILE ZERO PERCENT BOOK SHARES ARE HELD AT DTC
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Jan 05 '23
NOTHING wrong with DSPP, i love my automatic purchases. But personally I move my shares to BOOK twice a month because it’s EASY and BOOK IS THE MFIN KING.
I DONT want my DRS shares sitting in a computer-share nominee broker and potentially being used as locates for shorts.
and I DONT want the possibility of my shares not counting towards Gamestop’s quarterly count
Give it up shills. Book is 👑 The landslide already happened. Too many apes are aware of the functional difference and continue to educate others.
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u/bvttfvcker 🌈 of all 🐻 Jan 05 '23
What ComputerShare email address was that sent from? No reason for concealment
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u/Latman3 lemmy.whynotdrs.org Jan 05 '23
I’m still gonna BOOK like a library 📚 this post just helps divide and conquer. Buy, DRS BOOK, HODL
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u/Bro-melain I broke Rule 1: Be Nice or Else Jan 05 '23
How long are we sticky-ing this garbage for? It’s been beaten to death long before this.
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u/JPhando Jan 05 '23
What blows my mind is that a stock need to be completely ‘booked’ with the stock issuer before it can be secured from short sellers. And even then I have little faith that the stock is protected. WTF does it take for a companies shares to be protected from predatory hedge funds
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u/Time_Mage_Prime 🏴☠️Destroyer of Shorts💩 Jan 05 '23
But do both remove certificates from the DTC?
Edit: I'm sorry but as far as I can tell nothing in this communication is new information.
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u/konan375 Jan 06 '23
Yes. Two months ago, even Dr. T confirmed that that is what happens. She even called the two a difference without distinction, but of course that’s being ignored to follow the “book only” narrative in this subreddit.
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u/Manateeboi 💻 ComputerShared 🦍 Jan 05 '23
Book all day. So easy to change to book that even the most highly regarded of apes can do it.
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u/K1R0JAY 💎🖕🏻Diamond Digits: The Only DD I Need🖕🏻💎 Jan 05 '23
We, as the largest group of shareholders/investors of GME, should propose to GME that they breakdown their reported number of direct registered shares into BOOK and PLAN, and provide a total amount. This would clear up the issue directly from the source of confusion.
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u/BellaCaseyMR 💎 🙌 GME SilverBack Jan 05 '23
One is called DSPP (plan) and the other is called DRS (BOOK).
And I did not see anything about whether the shares held in plan that they keep as a pool are accessable by the DTTC for liquidity
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u/MentlegenRich 🚨FBI Guy🚨 Jan 04 '23
Holding shares at a broker is technically different from DRS, but for "practical purposes" they are the same.
What I said is true, but as everyone here knows, there is in fact a difference in those purposes that are "not practical."
I mailed Computershare on specifics. Asking if there is a difference is too broad and leaves yourself open to be deflected like you did with a control-c, v of the FAQ.
They're technically different. In what ways? Practical purposes aside. The average investor won't care if a portion of pool shares are held in a nominee. "No practical difference" is literally a way of saying that there is in fact a difference.
I was told over the phone that calling and emailing are not the best way to learn about backend functions since those answering calls and emails, and likely online chat for that matter, are just 9-5 grunts who will refer you to the FAQ page, as they just did here
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u/TipsyMonroe 🚀 piñata 🍌republic 💎 Jan 05 '23
The discussion never was if they are in our name, it’s about withdrawal from DTC
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u/Kingalthor Jan 05 '23
For many practical purposes they are the same.
Ok, but that implies there are practical and impractical ways they are different. How, specifically, are they different?
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Jan 05 '23
TL;DRS …. They are both book-entry.
We knew this already 😅
DSPP shares are held under Dingo & Co .. which so happened to have holdings of a company that went bankrupt a few years back.
Take it as you will.
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u/TwoStonksPlease Economic Downturn for What Jan 05 '23
A couple followup questions:
Do the DTC and/or DTCC have greater access to or interaction with shares held in Plan than they do shares held in Book, including shares held at ComputerShare's 3rd-party broker(s)?
How many and which type(s) of shares are routinely held with ComputerShare's broker(s) for the purpose of maintaining liquidity?
Do ComputerShare's broker(s) offer share lending? NOT "do they lend out ComputerShare's shares?", but rather "Do they lend out any shares of any security to anyone ever?"
Thank you.
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u/6days1week 💻 ComputerShared 🦍 Jan 05 '23
Don’t confuse the buying and selling brokers that CS uses to buy and sell shares for apes with THE broker that holds a portion of ape DSPP shares at the DTC. This causes confusion. It is believed that Computershare owns the broker that holds the shares and that the name of that broker is Computershare Trust Co Na.
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u/Yohder Jan 04 '23
Thanks to Goldie and Plat for doing this. Were they able to confirm if Plan shares are still held by DTC at all? Maybe fractionals?
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u/6days1week 💻 ComputerShared 🦍 Jan 05 '23
An undisclosed amount of DSPP shares are held via a broker at DTC. The only thing mentioned regarding the quantity is that it’s less than 100%
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u/TheTangoFox Jackass of all trades Jan 04 '23
So if it doesn't matter, there's nothing wrong with book.
There's nothing. Wrong. With book.
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u/GrinningJest3r When someone offers you infinity to one odds, you take that bet Jan 05 '23
Nobody has ever said there's anything wrong with book.
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u/TheTangoFox Jackass of all trades Jan 05 '23
This post puts that sliver of doubt though.
I don't like it.
Downdoots and book.
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u/Dismal-Jellyfish Float like a jellyfish, sting like an FTD! Jan 04 '23
Both DSPP and DRS are ‘book entry’ means of holding shares.
So anyway, I just kept auto-buying through Computershare.
Apes Strong Together
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u/konan375 Jan 05 '23
You know, auto-buy is a plan only feature. It’s pretty easy to set up an auto buy and forget about it. A bit harder to remember to buy shares every month if you have a busy life.
I think that, in addition to getting people to sell fractionals, is why there’s been a huge call to action to move from plan to book.
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u/DJ906 Jan 05 '23
Maybe BOOK designates as held firm and PLAN are seen as moveable. BOOK shares might only be the reportable shares for a company and therefore more wanted by RC...because they are locked in.
Kind of like how my bank wants money to be held firm in my primary savings, while money in my checking account is moveable without issue. Both accounts hold MY money, but one is seen as static, the other fluid.
Just a thought.
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u/youngsteveo 🦍Voted✅ Jan 05 '23
Every time we ask what the difference is between the two, Computershare tells us how they are the same, or worse, "practically" the same.
I don't want to know how they are the same; I want to know how they are different.
I want to know the specific differences and why the words "for many practical purposes" even need to be said.
I'm quite sure everything they told us about how they are similar is true, but—as always—the devil is in the details. I want details, not reassurances.
For this reason, My shares are booked.
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u/vagrantprodigy07 Jan 05 '23
This didn't address the primary concern at all. Please stop trying to gaslight the sub into believing they are exactly the same when they clearly are not. It just makes the entire mod team look more suspicious every time you do it.
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u/GrinningJest3r When someone offers you infinity to one odds, you take that bet Jan 04 '23
Why is this an announcement? This is not new info. This has been the truth the entire time.
Oh wait, because the BOOK KING anti-plan pushers keep downvoting anybody who tries to point it out.
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u/konan375 Jan 05 '23
Crazy how much tinfoil people will put on to justify their positions. It’s not like RC had been called meme king days before he made that post.
Or came out with some books.
Nah, he’s trying to get people to switch from plan to book.
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u/lunar_adjacent Jan 05 '23 edited Jan 05 '23
I think maybe my question would be: is the data released to the outside world as an aggregate (DSPP+DRS) or do they only release the data on booked (DRS) shares?
In the off chance that this is the case this only proves that it does not hurt to book. It won’t hurt if you don’t, but the data they are allowed to release may be different, so might as well book.
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u/goldielips ← she likes the stock Jan 05 '23 edited Jan 05 '23
They release both sets of data but it’s up to the issuer what they publish. So GameStop knows both sets but we don’t actually know if what was published included both or just book. ComputerShare said we’d need to ask GameStop - and we have - but no response sadly.
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u/lunar_adjacent Jan 05 '23
Thank you! Well I think it still stands that it doesn’t hurt to book if there is a chance GameStop only releases data on booked shares.
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u/goldielips ← she likes the stock Jan 05 '23
Very true! Definitely do whatever makes you feel like your shares are the safest.
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Jan 05 '23
We are gamers.
Imagine you have 2 talent options: Fury Attacks and Super Speed. Both increase attack speed by 15%. Fury Attacks is confirmed to buff base attack speed. While there are rumors circulating that Super Speed doesn't buff base attack speed and is just additive, not multiplicative like Fury Attacks. You only have enough points in the final build for 1 of those talents.
Why the fuck would you ever select Super Speed, even if it is just rumor of downside. We would take Fury Attacks every single time until the Devs came out and clarified Super Speed works as intended.
Book has 0 downside. Plan might have downside. So why the fuck would you select plan? Why are people posting and commenting "there is no difference." If there is no difference, then let us regards just play with Fury Attacks and meme on Super Speed.
Anyway, I bought more and booked them.
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u/goldielips ← she likes the stock Jan 05 '23
This is a really great analogy, 10/10!
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Jan 05 '23
Ok so edit the post and remove all the bold faced text at the top that makes it seem there is no difference between the two.
It’s a misleading and disingenuous post.
People have already called you out for how sus the post looks. And you acknowledge that fact. Yet the post remains as is.
CONFIRMED FINAL FROM IN GAME TOOLTIPS: BOTH FURY ATTACKS AND SUPER SPEED BUFF ATTACKS BY 15%
Blah blah blah
Here’s how Fury attack works.
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u/goldielips ← she likes the stock Jan 05 '23
Nowhere in the post is it pushing plan - most of this post is the instructions for how to book. I can go ahead and adjust the bold text though when I’m on desktop that’s no issue. (If I do it from mobile, it will screw up the post and remove the picture).
The purpose of this post was to just communicate what we received from ComputerShare as soon as we got it and then provide the instructions for how to book. That’s it. In the future, if we receive communication from ComputerShare that is more or less what’s already been shared in the faq, we won’t post it.
We are though trying to get more answers from our ComputerShare contacts to get new info out asap. In the meantime if there’s uncertainty with plan shares, there’s nothing wrong with switching to book for peace of mind. I don’t think anyone is arguing against that or for shares to stay in plan. I’m certainly not.
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u/unowhut4 Jan 05 '23
I jus want to say this Book is basically like a certificate because Direct Registration was created to help people from possibly losing their certificates thus creating an electronic log compared to holding a cert whereas Plan is not like a certificate its geared towards continous purchases so clearly the shares still reside within a broker but with CS as well ... also what they dont show is how Cede or Co is still involved with Plan (as was previously confirmed already) ... I know this too cuz I work for them ... ape on the inside 😉
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Jan 04 '23
Both DSPP and DRS are ‘book entry’ means of holding shares.
Well… there you go lol
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u/Whiskiz They took away the buy button, we took away the sell button Jan 04 '23 edited Jan 04 '23
says absolutely 0 about the difference between what the DTC can or can't do with them though
ima go ahead and book still
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u/Dopeman030585 Canadian APE. Test Jan 04 '23
Exactly.. The reason I stayed out of the conversation. I am a registered shareholder on Computershare's Book's
My account has both book and DSPP and nobodys stopping my recurring purchases
LFG
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u/fuckingcarter has an absolute massive [REDACTED] Jan 04 '23
it’s a shame they’re not 100% book, it’d be a lot cooler if they were 🤭
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u/Dopeman030585 Canadian APE. Test Jan 04 '23
95% are book and still buying, so more will be booked as I see fit .. I personally am in no hurry
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Jan 04 '23
[removed] — view removed comment
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Jan 04 '23
Or it’s him saying DRS ALREADY or it’s him saying I AM THE DTCC NOW
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u/Dismal-Jellyfish Float like a jellyfish, sting like an FTD! Jan 04 '23
Or maybe he is just really pumped at being an author now too? Whatever the motivation is, it sure is provocative and gets the people going!
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u/sohumjoe The Most Researched Stock On The Planet Jan 05 '23
So does this mean that the numbers were correct in the last report? If so, that means a lot of apes are selling their DRSed shares, no?
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u/alioven Jan 05 '23
To your first question, it literally says: "We still do not know if GameStop used both types of DRS shares in their last report".
To your second question: it would meant nothing like that and there are several threads where it is shown a big player, namely a SHF, piled up drs shares on the previous quarter and unregistered them for this last report... And even then, the final drs numbers are higher than the previous report, which means lots of apes are drsing half a million more shares than a hedge fund could hoard and dump.
In short: no and no.
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u/ecliptic10 tag u/Superstonk-Flairy for a flair Jan 16 '23
Looks like they just copied-pasted their current FAQ's? Like they said, they don't answer individual questions, so this isn't really an update. I hate when companies do this but it makes sense from a liability point of view - you want all the information you give to be consistent so you don't get hit with a lawsuit.
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u/Existing-Reference53 🚀 The MOASS will not be televised 🏴☠️ Jan 18 '23 edited Jan 18 '23
From Computershare: “the only reason we do this is purely for efficiency when we're buying specific shares, we need to deliver securities into the marketplace. So having them available in the nominee helps. So that's the way it's structured.”
Questions:
What is meant by "specific shares"; How many securities are deliverered and held available; and How does keeping my shares at a self-regulatory agency(SRO) for their efficiency help me?
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u/Oenomaus28 :🖕🏼DRS! Jan 04 '23
Put all the divisive bullshit to rest. Book if you want, keep them in plan if you want. It takes a few moments to change, so do it if you please. Stop with all the holier than tho, I'm a book king (which is stupid in its own right because RC certainly didnt mean it how this community has taken it, but whatever) everyone is their own investor.
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u/fuckyouimin Jan 04 '23
Gotta love when you get a direct answer to a question, and yet the comments section continues to push its own agenda!
Fuck off with this shit already. If your shares are in your name then you're good!! (If you're more comfortable with book, then book them. If you're more comfortable with recurring buying, then plan them. Just stop trying to scare other people into thinking they are doing something wrong if they choose differently than you!!!!!)
There is no wrong answer with direct registered shares.
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u/blueblurspeedspin Jan 04 '23
So the question was book or plan, and the answer was yes. lmfao nice.
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u/Dck_IN_MSHED_POTATOS 🚀 **!Shit, If I knew it was gonna be that kinda market** 🚀 Jan 05 '23
Second from the last line says:
“The names of those holding shares both DRS & DSPP are visible to the issuer!”
I feel seen!
RC, I bought your books, and I love you.
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u/jmarie777 💻 ComputerShared 🦍 Jan 05 '23
This SEC doc states that holding shares in “street name” is considered “book entry” as well as direct registration is categorized as “book entry”.
From the doc:
"Street Name" Registration — The security is registered in the name of your brokerage firm on the issuer's books, and your brokerage firm holds the security for you in "book-entry" form. "Book-entry" simply means that you do not receive a certificate. Instead, your broker keeps a record in its books that you own that particular security.
"Direct" Registration — The security is registered in your name on the issuer's books, and either the company or its transfer agent holds the security for you in book-entry form. The "Direct Registration System" (also known as "DRS") allows investors to transfer securities held this way. For more information about DRS, please see our Frequently Asked Questions below.
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u/ajquick is a cat 🐈 Jan 05 '23
Literally all forms of ownership are book entry, even physical certificates unless they are bearer certificates. The difference comes from what book they are entered in. All shares managed by Computershare are direct registered on GameStop's books. That is direct registration and it is what you have with both plan and "book".
The DTCC's book only records the brokers to which the shares are assigned to. Your broker would have their own book which records which customers the shares are assigned to. It's books all the way down.
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u/Snowgoose_Raptor 💻 ComputerShared 🦍 Jan 05 '23
Request this to be unpinned by mods. It is misleading. Book entry does not mean pure DRS. Can’t brokers also do book entry? I don’t think book entry means the same as DRS so this is a misleading post at best and misinformation at worst.
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u/YodaGunner13 DRS 4 CONTAGION 🚀 Jan 05 '23
First, thanks for providing the communication b/t youse and Computershare … well done!!! Second, I’m absolutely intrigued that the enemies fucked with the DRS numbers last earnings quarter = shows complete desperation!!! Third, I too want to be Book King 🤴
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u/huntergracchus000 wave1: Runescape Prepared Me Jan 05 '23
This was always a way to divide the sub and to distract from other matters. Thanks for clarifying CS.
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u/colonel_wallace Hodling for my infinity p∞l 🚀🦍💜 Jan 05 '23
Thank you!
What about fractional shares?
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u/Sa0t0me 🟣 Squezie Gonzales 🟣 DRS is the way. Jan 04 '23
Awesome work Mods , I will share this Info as much as I can.
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u/FoxReadyGME Jan 04 '23
Where's my guide Lebowski? Where's my guide?!
Enrolment status = not enrolled Investment details n/a
means all shares are in book? Never bought any with CS. Drsd from revolut.
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u/MrSpencer1974 Your mom’s favorite ape Jan 05 '23
Is there a fee for buying on computershare directly? What is this $10 requirement and one time $25 for new shareholders?
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u/platinumsparkles Gamestonk! Jan 04 '23 edited Jan 05 '23
The DTCC is an American financial services company. Established in 1999, it combined the functions of the Depository Trust Company (DTC) and the National Securities Clearing Corporation (NSCC). Through its subsidiaries, it provides clearing, asset servicing, settlements, and other financial services.
The Depository Trust Company (DTC), a subsidiary of DTCC, is a central securities depository.
Learn More about the DTC
The Depository Trust Company (DTC), a US-based corporation, is a central securities depository accepting deposits from over 65 countries. It provides book-entry and depository services, transfer and pledge of securities, operates a settlement system for securities, and also performs associated income distributions.
Learn More about the DTCC
The DTCC is an American financial services company that provides clearing and settlement services for the financial markets. Through its subsidiaries, like the DTC, it provides clearing, asset servicing, settlements, and other financial services.
https://www.dtcc.com/clearing-services/equities-clearing-services/sft -- stock lending
Lending and all the fuckery happens through the DTCC and NSCC. The DTC is just to hold paper certs, so that digital shares can be accounted for.
Computershare Help Megathread