Steps to Transfer Your Shares of EXPI
At eXp Realty, every agent has the unique opportunity to become a shareholder of our parent company, eXp World Holdings, Inc. All agents can earn equity awards for various achievements such as closing their first transaction or enrolling to be paid a small percentage of their earned commissions in stock at a discounted rate.
Any shares issued on or after Nov. 14, 2017
1. Contact Island Stock Transfer to obtain an account statement. This will ensure the correct number of shares is listed in the relevant legend removal documents.
Island Stock Transfer
727-289-0010 ext 249
Katie Messenger – Restricted Department
2. Complete Stockholder Representation Letter
If your shares are held in a brokerage account, your broker will provide you with a stockholder’s representation letter and other instructions to complete the sale or other transfer.
If you hold your shares directly, download and complete the stockholder’s representation letter located here.
3. Submit Documents to Island Stock Transfer and EXPI:
- Completed stockholder’s representation letter
- Completed broker’s representation letter (will be provided by your broker)
- Original stock certificates, if applicable, including certificates issued by Desert Canadians Ltd. and eXp Realty International Corporation (provide copies to EXPI)
- Instructions for delivery of stock to buyer or other transferee:
- DRS: electronic transfer into your brokerage account, a DRS statement is provided once the legend has been removed.
- Physical certificate: Please provide mailing address, package is sent via FedEx overnight, signature required. $45 USA, inquire about FedEx fee for other destinations.
- DWAC: similar to DRS, electronic transfer to brokerage account. Requires medallion guaranteed stock power to complete for US residents. Notarized stock power for non-US residents.
These documents should be delivered by overnight courier or email to:
Island Stock Transfer
15500 Roosevelt Blvd., Suite 301
Clearwater, FL 33760
Attention: Katie Messenger – Restricted Department
With copies to:
eXp World Holdings, Inc.
9533 Gateway Dr b
Reno, NV 89521
Attention: Alan Goldman
4. Pay Transfer Agent Fees
The transfer agent fees may be paid by credit card or check made payable to Island Stock Transfer, download the credit card form here.
- $3 cancellation per certificate or book entry
- $45 Overnight FedEx US, if applicable
- $28 DRS/DWAC, if applicable
Any shares issued on or before Nov. 13, 2017
You may not sell or transfer your shares of EXPI restricted stock unless the following conditions have been met:
- You have held your shares for at least six months. The holding period begins on the date on which you paid the full purchase price or gave other consideration for the shares. If you received your shares under the Agent Ownership Incentive Program, the Agent Equity Commission Program or the Icon Agent program, your holding period began on the date the shares were issued to you. If you received your shares upon exercise of a stock option, your holding period began on the date you exercised your option and paid the full exercise price for the shares.
- The Company is in compliance with its public reporting obligations under the federal securities laws.
- You are not an “affiliate” of the Company. You are not (and have not been for at least three months) an executive officer, director or significant stockholder of EXPI.
If you have held your shares for at least 12 months
If you have held your shares for at least 12 months (and are not a director or above or significant shareholder), you may request that the restrictive legend be removed from your shares.
You may begin the process of “delegending” your shares by downloading and completing the stockholder’s representation letter, located here, and then delivering the documents and payment as described in the above section.
If you have held your shares for more than six months but less than one year
If you have held your shares for more than six months but less than one year, you will need to obtain an opinion letter from a law firm permitting the sale of your shares.
An opinion letter may be obtained from your own lawyer, or you may request that EXPI obtain an opinion letter on your behalf from its outside counsel, K&L Gates LLP. EXPI will charge you a $500 fee to cover the cost of obtaining the opinion letter for you.
You may begin the process of “delegending” your shares by downloading and completing the stockholder’s representation letter, located here, and then delivering the opinion letter, documents and payment as described in the above section.
You do not need to obtain a law firm opinion if you have held your shares for more than one year.
Feel free to contact Katie Messinger at Island Stock Transfer for clarification on any of the document requirements or the legend removal process. firstname.lastname@example.org, 727-289-0010 ext 249.
For further information on restricted securities please read the following publication from the Securities and Exchange Commission: https://www.sec.gov/investor/pubs/rule144.htm