P&G Options Move to E*Trade
Earlier this year Procter & Gamble started moving its stock option platform away from the legacy platform that has been in place and to E*Trade (P&G’s communication of this can be found here). This initial move only affected those who have retired from P&G, however, P&G recently announced that the move to E*Trade will include all current employees as well, and the move will be fully in effect beginning on May 20, 2019. Current employees are able to create access to E*Trade before this date. Only stock options will make the move over to E*Trade, as Restricted Stock Units (RSU’s) will remain housed on the legacy platform accessed from the Life & Career section on the corporate homepage.
For those with stock options, you should have received an email that contains your authentication code. You need this code to set up your E*Trade account. If you haven’t received the email, or are unable to locate it, go to www.etrade.com/activate to get your account set up. The process to set up your account should only take 10-15 minutes, and is fairly intuitive.
If you have retired from P&G and still have stock options, you should have received an email that contains your authentication code. You need this code to set up your E*Trade account. If you haven’t received the email, or are unable to locate it, go to www.etrade.com/activate to get your account set up. The process to set up your account should only take 10-15 minutes, and it is fairly intuitive.
Once you have your E*Trade account set up, there are a few operational changes with this platform that you should be aware of:
- Real-Time Trading: Under E*Trade, the trades you place occur in real-time as opposed to the old “batch” system used with the legacy platform, which placed trades at three different times throughout the day.
- Limit Order: If you had a limit order placed on certain option lots prior to the move to E*Trade, you will need to re-place these. In addition, limit orders will now expire after being in place for 60 days.
- To enact a cashless exercise of your options, you now simply press “Cash” as the option to receive from your exercise (previously was “Sell all”).
- If you have any issues navigating E*Trade, their stock option team can be reached anytime at 1-800-838-0908
MWA is not affiliated with E*Trade or Procter & Gamble (“P&G”) and is providing the information and links listed in this communication as a courtesy to MWA clients. MWA is not responsible for the accuracy of content from third parties or their websites. The views expressed are for commentary purposes only and do not take into account any individual personal, financial, or tax considerations. It is not intended to be personal legal or investment advice or a solicitation to buy or sell any security or engage in a particular investment strategy.
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