PLEASANTON, Calif., Sept. 16
/PRNewswire/ -- Equity Administration Solutions, Inc. (EASi), the
leading independent stock plan management software company, today
announced it issued its third major software release for the year on
August 31st, strengthening its premier solution with a range of
reporting, administration and recordkeeping functionality to meet the
evolving needs of customers and the global marketplace.
EASi now gives global companies and IFRS 2 early adopters
the choice to run expense reports under U.S.-based FAS or IFRS2 by
simply changing a setting. Companies with employees around the world
also welcome EASi's support for cash-settled Restricted Stock Units and
cash-settled Performance Stock Units. In addition to the liability
award accounting for these cash-settled awards, EASi supports the
taxation and full administration with reports, extracts and imports to
support payments distributed through one or multiple payroll systems.
"Just as we did with FAS123R, EASi is first to support
companies that already need IFRS2 functionality," explained Denise
Vitale, Vice President of Product Development for EASi. "Our
development roadmap is built with a balance of US and global company
needs in mind. We plan to support the tax reporting (DTA), liability
accounting and experience group assignments for IFRS 2 in the coming
year."
EASi provides full flexibility in exercise elections. We
went beyond the standard "net exercise" to allow the participant to
select a grant price payment method that is different from the tax
payment method, providing individuals maximum choice, including the
ability to sell remaining shares. The exercise election choices
available to participants, brokers and the administrator are driven by
plan-level rules that can be set individually by grant type. Plan-level
fair market value and rounding rules can be defined separately by grant
type and transaction type.
EASi also enhanced its options/SAR exercise capabilities
for administrators, financial advisors and participants. The new
exercise functionality recognizes the different stages of an exercise
from initial modeling to settlement and supports multiple roles that
can add, edit and view exercise information. The company can designate
whether the financial advisor role is able to elect an exercise on
behalf of a participant. The administrator and financial advisor roles
are able to monitor and correct an exercise elected by the participant
or enter an exercise that didn't originate in EASi's Participant
Portal. Once a transaction is settled, all information is locked down
to preserve tax history and distribution of money and shares. Browser
views and reports provide detailed gross-to-net information with
currency and share details applicable to the participant, company and
same-day sale brokerage firm.
"Customer flexibility is a key principle that drives
EASi's product development," said Mark Ebersole, EASi's Chief
Technology Officer. He noted that EASi now enables customers to create
user-defined reports based on its comprehensive set of existing
reports. "Customers can select specific data sorts and generate reports
on demand or in batch mode. They can also take their user-defined
reports and modify them to create a different user-defined report,"
explained Ebersole.
"It is clear that EASi is committed to continuously
enhancing its software for partners and customers alike," said Marianne
Brannock-Hill, President and CEO of FRS Equity Strategies, a partner to
EASi that uses the software on behalf of dozens of their outsourced
administration clients. "The August release brings a more user-friendly
feel to the system and the new Report Builder is just what my team
needed. You don't have to be a programming wiz or learn Access or
Crystal to sort reports the way you need them. I haven't seen this type
of customization for reports on any other system."
As part of this feature-rich release, EASi also
implemented accounting and reporting changes for equity awards that are
affected by employment status changes from employee to consultant and
consultant to employee. For private companies, EASi enhanced its
Capitalization Detail Report and Capitalization Summary Report to
better assist in tracking capital.
Equity Administration Solutions, Inc. www.easiadmin.com sells industrial strength stock plan software designed to handle the accounting, tax and administration
needs of companies that grant equity awards. Headquartered in
Pleasanton, CA, EASi continues to lead the industry with second-to-none
solutions in areas including FAS123R, IFRS 2, Performance Awards and WorkStream process automation. The company serves nearly one million participants in more than 60 countries spanning four continents.
Contact: Amy Damianakes
EASi
amy@damianakes.com
(925) 937-4561