Stock from a previous employer as 401k...

[neonhomer]

I'm not really sure what to title this... or how to even describe this, but here goes.

 

I worked for a major company that, as part of the 401k plan, they gave you stock in the company. I was only with that company for 2 years or so, but in that time, I received around 12 shares of stock in the company. When I left, I called the financial manager and asked about moving this over to my new employer's 401k plan, and I was told there is no value in the account and nothing I can do with it. So I just shrugged and went about my way. Well, every year, I get a shareholder's package in the mail telling me how much stock I have in the company and apparently sometime in 2023, the stock split... so now I have 24 shares of stock. When I got the shareholder's package this year, it told me the value of the stock was around $8k.

 

When I call the financial company, (I believe it is Fidelity), I'm told the same thing.. there is no value to it. But yet I am showing to have 24 or so shares of stock of the previous company I worked for. I've called the HR department of my previous employer and they don't want to even talk to me. I have not yet reached out to my current employer's HR department, as the stock of the company I "own" is a competitor of the company I currently work for and I don't want any conflict of interest claims being made...

 

Can anyone help me untangle this mess? I'd like to just take any value and move to my current employer's 401k plan if I can.

[8ball]

It is possible that they are showing a value to the account that you aren't entitled to because you weren't "vested". I would call the HR Dept. of your previous employer. 

[hdporter]

I'm going to chime in with @8ball.  The most likely explanation for the discrepancy is that you weren't vested in the shares at the time of separation.