Market Trading Functionality Available Oct. 12, 2011 for the BNY Mellon Equity Holdings Account Selling Program
12 Oct 2011
SAIC, Inc. is pleased to inform you of enhancements made to your investor experience. On Oct. 12, 2011, SAIC's Stock Transfer Agent, BNY Mellon Shareowner Services will add new features to offer greater flexibility when you sell stock and receive sale proceeds.
Currently, SAIC stock held in your Equity Holdings Account must be sold through a Batch Order transaction. In a Batch Order, BNY Mellon aggregates all requests to sell shares and then arranges for the sale of all such shares on the open market. Depending on the number of shares being sold and current trading volume in the shares, sales may be executed in multiple transactions and may be traded on more than one day. The sales price in a Batch Order transaction equals the weighted average sales price for all shares sold in a Batch Order on the applicable trade date or dates, less applicable taxes and fees and the sales proceeds are mailed to stockholders via regular mail in U.S. Dollars only.
Starting on Oct. 12, 2011, BNY Mellon will provide stockholders a choice of methods when selling stock and receiving sale proceeds. These new methods will mirror some of the same sales functionality currently available within your ESPP account with BNY Mellon.
Enhanced Sale Transactions
- Market Order - When a Market Order transaction is requested, your shares will be sold at the prevailing market price when the trade is entered.
- Day Limit Order - When a Day Limit Order transaction is requested, you will be asked to specify the price at which your stock can be sold. If the trading price of SAIC stock reaches the specified price, an order is placed by the broker to sell your shares. If the stock does not reach the specified price by the end of that trading day, the order is cancelled. Please note: A sale is not guaranteed when a Day Limit Order request is placed.
- Good-Till-Cancelled (GTC) Limit Order - When a GTC Limit Order transaction is requested, you will be asked to specify the price at which your stock can be sold. If the trading price reaches the specified price, an order is placed by the broker to sell your shares. Your order will be cancelled upon your request, if required by the applicable stock exchange or if your shares are not sold during the 365 days after the order is submitted. Please note: A sale is not guaranteed when a GTC Limit Order request is placed.
Any requests for Market Orders, Day Limit Orders or GTC Limit Orders will be placed promptly upon receipt during market hours. Sale proceeds in such transactions will equal the market price of the sale obtained by a broker affiliated with BNY Mellon, less applicable taxes and fees. Additional fees will apply for these enhanced sale transactions. Please see the Sell Equity Holding Shares page for more detail.
All sales transactions will be made through a broker affiliated with BNY Mellon that will receive brokerage commissions in connection with such sales. Shares are sold on the New York Stock Exchange. The selling price will not be known until the sale is complete.
When you sell SAIC stock Using a Market Order, Day Limit Order or GTC Limit Order, you will also have a choice of how you would like to receive your proceeds:
- Check - Net sale proceeds are sent by check in U.S. Dollars or in one of the foreign currencies available through BNY Mellon.
- Direct Deposit - Net sale proceeds in U.S. Dollars are directly deposited into your U.S. bank account.
- Wire - Net sale proceeds are sent via wire transfer either in U.S. Dollars or in one of the foreign currencies available through BNY Mellon.
Additional fees will apply for certain proceeds distribution methods. Please see Sell Equity Holding Shares for more details.
For security reasons, bank account information must be added or modified by logging onto your Equity Holdings Account online or by submitting a written request. Customer Service Representatives with BNY Mellon may not add or modify banking instructions on your behalf.
You will be able to take advantage of these new features by logging into your Equity Holdings Account online or by contacting BNY Mellon at (866) 400-7242.








