Stock & Option Solutions

2024 Checklist

It is crucial to ensure that your stock plan operations are aligned with the latest tax updates and compliance requirements. To facilitate a smooth start to the new year, Marc Tipton, from Stock & Option Solutions, has compiled a comprehensive checklist to guide you through 11 key best practices to consider to maximize the efficiency of your stock plan administration process:

  1. Check timelines for stock plan platform tax updates. Some local and specialized rates aren’t finalized until February or March.
  2. Ensure personal tax rates have been reset to zero.
  3. Take time to coordinate with your internal and external teams. Include all stakeholders if possible.
  4. Revisit manual processes to see if any can be automated.
  5. Identify risks where redundancies are in order. Don’t allow a single point of failure to cause a major problem.
  6. Ensure your blackout periods are communicated to your stock platform providers.
  7. Ensure your insider and Section 16 lists reflect Q4 2023 changes. 
  8. Communicate the schedule of releases with Section 16 employees to your legal group and Form 4 filing team. 
  9. Identify pain points from last year. Consider getting an outside opinion for best practices.
  10. Identify high activity times and consider bringing in outside help to manage the workload during those times.
  11. Identify low-value activities you’re spending meaningful time completing (loading grants, processing exercises/releases, running routine reports) and consider outside help.

By addressing each item diligently, you will be able to fortify your compliance efforts and streamline processes for a successful start to the new year. The proactive measures outlined in this checklist aim to ensure that you are well-prepared for any challenges, with a focus on efficiency, risk mitigation, and collaboration among internal and external teams.

Should you have any questions, or require further assistance with any of the checklist items, do not hesitate to reach out to us.

Contact us for your no-obligation consultation.

Follow us: