August 30th, 2010
In this Issue:
Subscribe to Xtra!
Follow us on
Latest Webcast Materials from BOTH of our July Presentations:
Hey Wait, Wasn't I Supposed to be Rich by Now?: Communicating Value to Private Company Stock Plan Participants:
SOS Employment Opportunities
From the SOS Library:
Five Common International Stock Plan Compliance Errors
A recorded demo of "Email Xpress", the SOS automated solution for emailing participant stock plan confirmations and statements, is now available:
Ideas or Questions:
Do you have ideas for our next newsletter or webcast? Topics you're dying to see addressed but haven't yet? Please send us an e-mail with your ideas to: email@example.com.
Industry Trends Affecting Equity Compensation
"The time to repair the roof is when the sun is shining."- John F. Kennedy
Quotes by JFK often remind people to strive toward becoming the person they aspire to be. With this quote in mind, I think about our changing industry and remind myself that we must always remain focused on reducing risks in our companies and create value for their shareholders. We do this in many ways, but today I wanted to provide for you a few common trends we have seen that you should be preparing for.
Need an easy way to stay up-to-date on industry news? Follow us on Twitter or become a fan on Facebook.
In Memoriam: Marilee Richardson
The SOS Team lost one of its team members, Marilee Richardson, to cancer on July 30th. The impact has been quite traumatic for all of us. In our eleven years, the thing we have prided ourselves on the most is our family atmosphere. As a matter of fact, Marilee's own daughter, Lisa, worked with SOS as well. The loss of one of our own is truly felt as a loss of a family member.
Marilee was only 55 years old and, as she told me in our last conversation, "in the prime" of her life. She was absolutely a fighter. She knew the odds were against her when she was diagnosed with pancreatic cancer in early 2009. Only 20 percent of those diagnosed live for another year. We were lucky enough to have her for over 18 months.
Marilee consulted for one of SOS's largest clients for the past five years. SOS employee Lindsey Youdan worked very closely with her during that time and had this to say:
I met Marilee almost four years ago. We have been working at the same client ever since. She was a great friend and mentor to me.We are so grateful to have known Marilee. We have always admired her dedication to family, friends, and work. She was a straight-shooter who enjoyed a good laugh. The love and devotion she had for her family is reflected in her amazing daughter, Lisa, and her other children and grandchildren who rallied around her in her time of need.
We are lucky to have had the time with her and she will be missed.
Free SOS Sales Webcasts:
M&A Success Strategies for Stock Plan Managers
October 5th, 2010
Equity Accounting for M&A Made Simple
October 12th, 2010
Please join us for our next sales webcast on October 5th at 11am Pacific Time, 2pm Eastern Time, and October 12th at 11am Pacific Time, 2pm Eastern Time.Description:
M&A activity has steadily risen, while the environment in which it occurs has grown increasingly complex. To successfully tackle a merger or acquisition, stock plan professionals require more skills and knowledge than ever. And nothing is more essential than experience.
For more than 11 years, SOS has managed and assisted companies through M&A projects of every size, shape and color. Over that period, we've built on our expertise, while developing a toolbox of innovative technology solutions customized to meet the evolving needs of this marketplace. On September 17th and September 19th, we'll be telling our story through case studies taken from real clients, which will not only provide you with some tips and tricks for taking on your next transition, but will also highlight the SOS solutions and custom technology that will ensure you are never left short-handed.
This special M&A Sales Webcast will take place in two parts:
On our October 5th webcast, M&A Success Strategies for Stock Plan Managers, we'll be covering:
IMPORTANT WEBCAST UPDATE:
Performance Plan-tastic: Handling the Perks and Pitfalls of Performance
September 7th, 2010
This free webcast, originally scheduled to occur on August 26th, has been rescheduled. It will now take place on September 7th at 11am Pacific, 2pm Eastern Time. We apologize for any inconvenience this may have caused, and hope you can join us next Tuesday.
Please note: If you had previously registered for this webcast, no further action is required. The session will still be recorded, and everyone that is registered will receive a link to the materials and recording as usual. Anyone that is currently registered and is unable to attend the new date & time will still be able to view the recording at their leisure.Description:
Are you currently wrestling with performance shares? Or are you still just dreading the day that management gently informs you that they've just implemented a performance plan? And praying that it's not a broad-based plan with insanely complicated goals and metrics?
Whichever camp you're in, our expert panel will review some of the challenges inherent in performance plans, some common (and some unusual) designs we're seeing in the marketplace, cover the accounting treatment, and give you tips to tackle and handle your performance plans and still have time for your day job and maybe even a life outside of work.
M&A: After the Dust SettlesThe third in a three part series on Mergers & Acquisitions
Whew, the merger deal is closed and the dust has settled. Or has it? In our previous two segments on M&A (See here and here), we talked about preparing for and navigating the process of a merger or acquisition. The path to M&A closure and integration can be a challenging one, fraught with minute details - to which critical attention must be paid. Our previous segments focused largely on getting from point A to B - how to take stock plan data from two companies and integrate it efficiently, with minimal pain and errors. Now that the deal is done, we move on to the final stages of ensuring a successful integration, the steps that occur largely after the transaction is complete.
M&A may be one of the few areas where advance communication is not always possible. Even when permitted, what can be shared in advance may be extremely limited due to factors such as confidentiality or lack of finite certainty about the details, and that makes advance communication challenging.
While it may not be feasible to disseminate detailed information to stock plan participants in advance of the transaction close, it is possible to put together a communication plan BEFORE the transaction closes, even if you must wait until closing to execute the plan.
What to Communicate
When communicating about M&A to stock plan participants, put yourself in their shoes. Anticipate the questions that they will need to know. Such anticipation and proactive planning can greatly minimize the number of inbound, one-off inquiries that flow into the equity administration department. Typical areas of question for employees involved in an M&A situation include:
Employee communication is an area where the means is just as important as the message. If you're going to go to the effort to communicate with employees, then invest equal time in ensuring you're utilizing effective communication channels.
Our favorite communication methods for M&A include:
Jennifer Namazi, CEP, Director
Jennifer Namazi is a Director in the Strategic Solutions division of Stock & Option Solutions. At SOS, Jennifer's focus is to help clients ensure they have the proper practices and infrastructure to implement and support their equity plans. Jennifer approaches her clients with an eye towards best practices and providing general strategic guidance.
Prior to joining SOS, Jennifer spent more than 10 years working in various corporate equity administration positions ranging from administrator to senior management for companies such as Adaptec, Broadcom Corporation, Oakley Inc., and Sicor Pharmaceuticals. Jennifer earned her Certified Equity Professional designation in November 1997. She has been actively involved in various organizations such as the NASPP for several years as well as served as a volunteer for the CEP Institute. She is a past program Chair for the San Francisco Chapter of the NASPP, and served on the CEP Advisory Board from 2002 - 2009. She frequently speaks on current and emerging topics for industry organizations and events, such as the NASPP, GEO, and SOS.
Product Spotlight Sequel: SOS 6039 Services & Solutions
Last month's Product Spotlight focused on our line of 6039 services & solutions. We followed that up with a sales webcast, which included a discussion of the new regulations, as well as our related services. The webcast culminated with a demonstration of our industry-leading solution for handling the required e-filing and generating 3921 and 3922 participant statements, SOS 6039 Xpress.
Attendance was high, and the response we received from companies looking for a simple and cost-effective solution has been amazing. To streamline the proposal process, we are asking three simple questions which will allow us to deliver a customized proposal and pricing within 1-2 business days. If you are interested in our solutions, please email us with answers to the following:
SOS Across Our Desk: Equity Compensation in the News...Dodd-Frank
From Dan Walter: Top 3 Provisions of Dodd-Frank...at least for the moment...Another detailed overview of the financial reform bill...From the NASPP blog, an interesting posting on possible future directions for equity comp.
NASPP ConferenceSOS is proud to announce that we will be sending three speakers, Elizabeth Dodge, Laura Reis, and Jennifer Namazi, to this year's NASPP Conference in Chicago. Please read our latest press release to learn more. We look forward to seeing you there!
SOS Xposé...tender tidbits about people and players in our industry...
New Additions... Paul Valencia of E*Trade Corporate Services and his wife Janie welcomed Austin Cruz Valencia into the world on July 16th. Austin weighed 6 lbs, 6 oz. and was 20 inches long. To see some pictures, click here, here, here, and here...Kevin Osterman of Edwards Lifesciences has another baby on the way in February. Congratulations to you both!
Nuptials...Jennifer Bertagnolli, a Client Manager at E*Trade, was married in South Lake Tahoe on Sunday, August 8th to Marc Wallace...Christine Deleo, a Senior Solutions Specialist at Transcentive/Computershare, recently got engaged to her long time boyfriend, Mike Ross, who also works at Computershare in the Corporate Governance Services group.
On the move...Alison Wright has joined Baker & McKenzie, and will be working out of their San Francisco offices. Alison will be working on Executive Compensation and Employee Benefits as well as U.S./domestic equity compensation issues.
There is a Doctor in the house...SOS would like to celebrate one of own, Andrea Best, who graduated with her Ph.D.in Comparative Studies from Florida Atlantic University on August 10, 2010. Her research focuses on sustainability, ethics, environmental justice, and complex systems thinking. We have some pictures from the ceremony here and here. Great job, and congratulations Andrea!
SOS at SF GEO on Thursday...Elizabeth Dodge will be there, speaking on how to get more use out of the internet, both for participant communications, career development and internal (and international) stock plan group communications. Learn more at the link, and don't forget: it's not too late to register!
Happy Belated Birthday...Laura Verri of Computershare recently returned from her vacation and birthday celebration with friends in Spain. Having a birthday that falls on the same day as the town fair there paid dividends, as she not only got cake, but a parade and fireworks! http://www.globalequity.org/geo/node/344
CEP... Registration for the November 6 CEP exams closes on September 24. There is a lot at stake with equity compensation. Make sure you have the right skills and expertise...And mark your calendar for the CEP Symposium on December 8.
Have a happy and well-deserved Labor Day weekend!
Did you miss an issue of Xtra? View our complete newsletter archive here
Miss a webcast? You can find links to recordings, as well as the materials, on our Events page
|Information provided in this newsletter is designed for educational and entertainment purposes only and is not provided as professional service or advice. Moreover, this newsletter should not be relied on as legal, accounting, auditing, or tax advice. Anyone reading this newsletter should not act upon this information without seeking professional counsel and/or input from their advisors. The preceding information does not necessarily represent the official views of Stock & Option Solutions, Inc. with respect to any of the issues addressed.|
|Stock & Option Solutions | (888)SOS-0199|