New FAS 123R-Related Capabilities Define Latest Release of Two Step Software’s Stock Plan Management Tool

New FAS 123R-Related Capabilities Define Latest Release of Two Step Software’s Stock Plan Management Tool

Two
Step Software, Inc., a leader in stock plan administration and
corporate governance solutions, today announced the release of Version
6.1 of Equity Focus™ — its comprehensive, on-demand stock plan
administration and equity compensation reporting application. Featuring
comprehensive new FAS 123R-related calculations and reports, this
release is designed to make stock plan valuation and equity
compensation reporting faster, easier, and more accurate. It is also
intended to streamline the audit review process.

“CFOs continue to look for ways to expedite the valuation and
reporting process, improve their internal productivity, and satisfy
their auditors,” said Gary D. Levine, President and CEO of Two Step
Software. “With the latest release of Equity Focus, companies are able
to more easily calculate their Black-Scholes variables and present
better supporting documentation to their auditors. This inevitably
leads to greater cost savings during the audit cycle.”

Version 6.1 of Equity Focus – which is being unveiled at the 16th
Annual Conference of the National Association of Stock Plan
Professionals (NASPP) being held this week in New Orleans -provides
users with several new calculations and reports. These calculations,
including volatility, interest rate, and forfeiture rate, use public
information downloaded from third-party websites as well as a company’s
own historical information. Version 6.1 also offers the ability to
automatically true-up expense amortization based on actual vesting and
forfeiture history – which has proven to be a burdensome task for most
companies. In addition, new audit worksheets have been added to the FAS
123R disclosure reports to provide even more complete supporting data.

Mark Patterson, CFO of Express-1 Expedited Solutions, Inc.,
described his company’s experience with Equity Focus: “When our FAS
123R calculations became a big point of contention between the company
and our auditors, we looked for a tool that could meet all of the
reporting requirements for FAS 123R. At the same time, we wanted an
application that could dynamically connect the related board minutes
and signed stock option agreements, as well as the back-up
documentation for the FAS 123R assumptions or calculations.”

Patterson explained that after Equity Focus was put in place, the
review of Express-1’s FAS 123R calculations was reduced from a number
of days to a couple of hours. “It was the only product that met all my
criteria and the auditors loved it,” he said. “Equity Focus paid for
itself in audit time saved.”

Equity Focus, Version 6.1, will be demonstrated at NASPP, Booth
#615. For those not attending the Conference, online demonstrations and
more information on the Equity Focus application can be found at
www.twostep.com/equityfocus.

About NASPP

The National Association of Stock Plan Professionals Annual
Conference — being held October 21st-24th, 2008, in New Orleans — is
regarded as the premier event for stock plan professionals. It brings
together top industry luminaries to deliver fresh perspectives and
cutting-edge guidance on the latest issues in executive and stock
compensation. For more information, go to: www.naspp.com/Conference2008

About Two Step Software, Inc.

Founded in 1995, Two Step Software, Inc. offers the on-demand
applications Equity Focus™ and Corporate Focus™, market-leading stock
plan administration and corporate governance solutions used by
financial executives, stock plan administrators, law firms, and
corporate legal departments to track corporate records for more than
100,000 companies. Two Step Software offers the only set of on-demand
solutions that combine stock plan administration, equity compensation
reporting, and corporate governance tracking. The company is located in
Needham, Massachusetts. For more information, visit their website at:
www.twostep.com or call: (800) 223-8900.

Author Information

Marlene Gasdia-Cochrane
Two Step Software, Inc.