A same-day sale (cashless) exercise is a method of exercise whereby Wells Fargo Investments simultaneously buys and sells the shares for you on the same day. The exercise cost and taxes are deducted from the gross proceeds, including a transaction fee of $7.95 plus nominal SEC Fees. The net cash is delivered to you through your payroll system, usually within 30 days of your transaction. You can complete a same-day sale online by signing on to Stock Options Management from work or from home.
To complete a same-day sale (cashless) exercise:
Go to Stock Options Management and click Grant Summary.
Select the grant date you want to exercise.
Click the Exercise button.
Select Same-Day Sale from the drop-down menu.
Complete the exercise.
Trading and Operating Hours
Monday – Friday, 9:30 a.m. – 4:00 p.m. Eastern Time (ET), during New York Stock Exchange trading days
Exercises can be submitted online 24 hours a day, 7 days a week. Exercises entered outside of trading hours, on a weekend or holiday will be effective the next business day (provided the grant being exercised does not expire on the next day).
Same-day sale transactions submitted between 3:30 p.m. and 4:00 p.m., Eastern Time (30 minutes prior to market close) are processed on a "best effort" basis. If a trade is not completed prior to market close, the exercise will be cancelled and the exercise will need to be reentered on a subsequent day.
Please refer to the grant’s prospectus for the specific terms of each stock option grant.
