Our popular “Meet the Speaker” series, featuring interviews with speakers at the 25th Annual NASPP Conference, is a great way to get to know our many distinguished speakers and find out a little more about their sessions in advance of the Conference.
For today’s “Meet the Speaker” interview, we feature an interview with Yonat Assayag of ClearBridge Compensation Group, who will lead the session “Flipping Pay for Performance Upside Down: It’s Not Just Performance Shares.” Here is what Yonat had to say:
NASPP: Why should companies be thinking about their LTI plans now?
Yonat: Structuring the right long-term incentive plan for a company’s business needs is one of the biggest challenges that companies are facing today. Pressure from external groups like shareholders and shareholder advisory groups puts an even greater spotlight on how companies are structuring their programs. Hearing the latest market insights on LTI plan design during our session can help to make sure everyone is making an informed decision about the plan design that’s right for their particular circumstances.
NASPP: What is a common mistake companies make with their LTI plans and how can they avoid this?
Yonat: One common mistake companies make in designing their incentive plans is to “blindly” follow the market trend. While this may ultimately be the right approach, it is important to review all the pros and cons before making a decision. Specifically, when designing a long-term incentive plan, companies should review the trade-offs of each LTI vehicle and ultimately come to a decision of what is best for their business situation, with an understanding of market practice.
NASPP: What is the silver lining to LTIs?
Yonat: The silver lining is that companies do not need to feel “stuck” with a plan design that isn’t working for them. Companies can re-evaluate and modify their LTI plan design over time to meet their evolving needs.
NASPP: What is your superpower?
Yonat: Brainwashing!
Don’t miss Yonat’s session, “Flipping Pay for Performance Upside Down: It’s Not Just Performance Shares,” at the NASPP Conference!
About the NASPP Conference
The 25th Annual NASPP Conference will be held from October 17-20 in Washington DC. This year’s program features close to 100 sessions on today’s most timely topics in stock and executive compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 25th Annual NASPP Conference, is a great way to get to know our many distinguished speakers and find out a little more about their sessions in advance of the Conference.
For today’s “Meet the Speaker” interview, we feature an interview with Laurence Wagman of Golden Parachute Tax Solutions, who will lead the session “The 280G Enigma: How One Tiny Code Section Can Ruin an Otherwise Perfectly Constructed Pay Plan.” Here is what Laurence had to say:
NASPP: Why do you feel strongly about your Section 280G?
Laurence: Having worked on hundreds of transactions, it amazes me on how little attention is paid to Section 280G when companies put together pay plans. What is more amazing is that just a little bit of tax planning upfront can often save both companies and executives significant tax penalties.
NASPP: What is one action should companies be taking now?
Laurence: Plan…Plan…Plan!!!
Make sure your company understands the impact Section 280G has on your company’s pay plan. Recognizing these potential consequences early on allows a company to employ various planning techniques which may not be available once a transaction is announced.
NASPP: Is there a silver lining to 280G?
Laurence: We have seen a trend with more and more companies begin to do more planning without a transaction pending.
NASPP: What is your favorite memory from a past NASPP Conference?
Laurence: This is my 9th or 10th year coming to NASPP – There are so many great memories at the Conference. It would be an understatement to not mention how much I love catching up with all the people I have met through the years.
My favorite moment was one of the panels I was on (I believe it was DC). We had a little extra time at the end of our panel discussion. On a whim my co-panelist Shari Overstreet and I decided to do a mock-280G non-compete interview—it was a complete improvisation because Shari and I had no idea what we were going to ask/say. At the end of the day she was interviewing a public company CEO who invented the drug that helped men understand woman better and was nominated for a Nobel Prize by Oprah Winfrey. The spontaneous humorous interview allowed for a number of laughs, kept our audience engaged and allowed us to illustrate some great technical points. Probably not your typical NASPP panel—but based on the feedback we received it was a great panel.
Don’t miss Laurence’s session, “The 280G Enigma: How One Tiny Code Section Can Ruin an Otherwise Perfectly Constructed Pay Plan,” at the NASPP Conference!
About the NASPP Conference The 25th Annual NASPP Conference will be held from October 17-20 in Washington DC. This year’s program features close to 100 sessions on today’s most timely topics in stock and executive compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 25th Annual NASPP Conference, is a great way to get to know our many distinguished speakers and find out a little more about their sessions in advance of the Conference.
For today’s “Meet the Speaker” interview, we feature an interview with Valerie Diamond of Baker McKenzie, who will lead the session “Around the World in 60 Minutes: Key International Updates.” Here is what Valerie had to say:
NASPP: Why is it important for companies to stay current on the latest global developments impacting stock plans?
Valerie: There are a lot of changes in political administrations all around the globe these days. As administrations change, so do their rules and regulations related to equity awards. Companies need to stay on top of these issues, particularly the tax requirements, and change their process and procedures to fit any changes in the laws.
NASPP: What is one action should companies be taking now with respect to their global stock plans?
Valerie: Companies should review their existing grant documents to make sure that they are up to date and address the countries where equity awards are granted. It would be helpful to take a look at existing agreements and compliance now before attending our session and to use our session as a means to find out what is new and what needs to be updated in the company’s grant documentation to fit changes in the laws.
NASPP: What is the most innovative solution/response you’ve seen for keeping track of local requirements?
Valerie: We have been using an online questionnaire process to collect information from local payroll and HR on tax withholding and reporting and local compliance. This information is gathered in an excel spreadsheet and is easy to compare to the requirements in the local country. This allows the company to do an easy clean up on any compliance issues that are incomplete or in need of a refresh.
NASPP: What is your favorite tourist attraction in DC?
Valerie: My first favorite is the Vietnam memorial. My second favorite is the view of the White House from the deck at our Baker McKenzie DC office. It’s really cool to sit on our roof deck and enjoy the view.
Don’t miss Valerie’s session, “Around the World in 60 Minutes: Key International Updates,” at the NASPP Conference!
About the NASPP Conference
The 25th Annual NASPP Conference will be held from October 17-20 in Washington DC. This year’s program features close to 100 sessions on today’s most timely topics in stock and executive compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 25th Annual NASPP Conference, is a great way to get to know our many distinguished speakers and find out a little more about their sessions in advance of the Conference.
For today’s “Meet the Speaker” interview, we feature an interview with Keyoor Mankad of My Equity Comp, who will lead the session “Best Practices for Insider Trading Policies.” Here is what Keyoor had to say:
NASPP: What are some of the things companies need to think about when it comes to insider trading compliance?
Keyoor: Insider trading compliance is very critical to every company, from new IPOs to established companies. There have always been questions and debates about who should be designated as insiders, what transactions are subject to insider reporting, and who is responsible for filing these reporting requirements. Brokers are a critical component in this process and there is always confusion around preclearance requirements. Dealing with insiders can be a challenge. How can all of us, from stock plan administrator to legal counsel and brokers, work as a team to successfully report all transactions accurately? My panel has combined experience of over 50 years and consists of an issuer, a broker, a lawyer and a consultant.
NASPP: What is one best practice companies should implement?
Keyoor: The most important part of this whole process is clearly documenting procedures. Ideally, a clear copy of each and every step involved in the process should be handy to all of the parties involved.
NASPP: What is the worst horror story you can tell on your topic?
Keyoor: We do have a horror story involving a senior level executive, but you will have to attend our session to witness all the details.
NASPP: What is your favorite memory from a past NASPP Conference?
Keyoor: Watching Huey Lewis and The News at Mandalay Bay Las Vegas.
Don’t miss Keyoor’s session, “Best Practices for Insider Trading Policies,” at the NASPP Conference!
About the NASPP Conference
The 25th Annual NASPP Conference will be held from October 17-20 in Washington, DC. This year’s program features close to 100 sessions on today’s most timely topics in stock and executive compensation; check out the full agenda and register today!
We are pleased to bring back our popular “Meet the Speaker” series, featuring interviews with speakers at the 25th Annual NASPP Conference. These interviews are a great way to get to know our many distinguished speakers and find out a little more about their sessions in advance of the Conference.
For our first “Meet the Speaker” interview, we feature Kim Arnold of UnitedHealth Group, who will lead one of our new Power Sessions, “Take This Job and Love It!” Here is what Kim had to say:
NASPP: It seems like you are pretty excited about your job as a stock plan administrator. How come?
Kim Arnold, UnitedHealth Group: I have never met a kid who says “When I grow up I want to be a stock plan administrator!” I think most of us fall into the role, and not always by choice. But as a person with over 20 years of stock plan administration experience, I want people to be aware of and excited about the opportunities associated with a career in stock plan administration. I want to help people be successful in the role!
NASPP: What is a common mistake companies make with the stock plan administration role?
Kim: Companies sometimes fail to fully utilize the skills and experience of stock plan administrators. Good stock plan administrators are worth their weight in gold (or stock, as the case may be!). Keeping up on regulatory developments and plan design trends can be invaluable to companies looking to attract, reward and retain talent.
NASPP: What is the silver lining to stock plan administration?
Kim: The silver lining is that even for those who have been thrust into the world of stock plan administration, the outlook for a career in the field is awesome! It’s a job with so much variety no two days are the same. From compliance to employee education (and everything in-between), I believe there is something for everyone. It’s a role that allows a person to try on many hats!
NASPP: The NASPP Conference is in DC this year—do you have a favorite tourist attraction in the area?
Kim: There are too many awesome tourist attractions in DC to choose only one favorite, but I do love the National Gallery of Art. Spending a day there feeds the inner art history geek in me.
Don’t miss Kim’s session, “Take This Job and Love It!,” at the NASPP Conference!
About the NASPP Conference
The 25th Annual NASPP Conference will be held from October 17-20 in Washington, DC. This year’s program features close to 100 sessions on today’s most timely topics in stock and executive compensation; check out the full agenda and register today!
It’s once again time to play the Hot or Not game. I have a list of possible topics for the 25th Annual NASPP Conference; your job is to tell me if each topic is “hot” (or not). Some quick guidelines:
Sizzling hot means you’d definitely want to attend a session the topic
Warm means you might be interested in this topic
Ice cold means that you have no interest in this topic
No opinion means you don’t really know what the topic is or otherwise don’t have an opinion on it
The survey should appear below. If you don’t see it or can’t access it, click here to participate.
The NASPP is looking for members to help us review speaking proposal submissions for the 25th Annual NASPP Conference.
What’s Involved
You will be given 10-20 speaking proposals to review from March 13th to 24th. Each proposal will include a short description and a few other key details. You’ll read the proposal and rate it; we expect that it should only take 30 minutes or so for you to rate all the proposals assigned to you.
Your participation will help us design a program with topics and presentations that will draw attendees to our Conference, making the 25th Annual NASPP Conference the best one yet!
Qualifications
To participate in this program, you must meet the following requirements:
Be a current NASPP member
Work for an issuer company
Not be included as a panelist on any speaking proposals submitted for the Conference
Have attended the NASPP Conference at least once within the past three years
Willing to Help Out?
If you meet the qualifications and are willing to help out, please email Berni Toy at btoy@naspp.com.
For today’s blog entry, I have a few more scenes from the 24th Annual NASPP Conference here in Houston.
Terry Adamson of Aon Hewitt explains what post-vesting holding periods can do for your company in the Presentation Arena. The Arena featured fast-paced talks on current hot topics in 20 minutes of less. It was conferencing for people with short attention spans.
The NASPP Conference is all about making connections.
Ellie Kehmeier of Steele Consulting and Danielle Benderly of Perkins Coie are excited to have a chance to chat with Senator Wendy Davis, who presented a thought-provoking and very well-received keynote on Tuesday morning.
Attendees get advice from an expert. The Ask the Experts booth is a great way to get answers to your questions.
Everyone loves a great session! Attendees listen intently to a panel and quietly discuss how the information presented applies to their company.
Saddle up, cowpoke! I’m here in Houston for the 24th Annual NASPP Conference. For today’s blog entry, I have a few pictures of happenings around the Conference.
New this year, we started off the Conference with a special reception for issuers attending for the first time, sponsored by Charles Schwab. Here, two first-timers make a connection.
Former Texas Senator Wendy Davis presented the opening keynote. The top ranking players in the PhotoPlay game in the app were invited to a private breakfast with her.
Sean McLaughlin of Fidelity and Stacy Fox of Salesforce are excited to see each other again this year.
Grabbing the morning latte in the NASPP Café, sponsored by UBS.
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 24th Annual NASPP Conference, is great way to get to know our many distinguished speakers and find out a little more about their sessions in advance of the Conference.
For today’s “Meet the Speaker” interview, we feature Bob Grayson of Tapestry Compliance, who will lead the session “Making Sense of Europe.”
Here is what Bob had to say:
NASPP: Why is Europe a particularly timely topic right now?
Bob: This summer the UK voted to the leave the European Union. The process of the UK’s withdrawal from the EU is unprecedented and the withdrawal process is unknown. The exit will need to be negotiated with the EU and the UK and it is possible that other members of the EU will also start to review their relationship with the EU. Many UK laws are based on EU Directives and Regulations. The UK will take time to consider what will be changed where certain laws are no longer required by virtue of EU membership. So laws relevant to share plans based on EU Directives and Regulations like data privacy, employment and securities laws have not immediately changed in the UK, but it is possible that they will do in the medium to long term if the UK decides not to follow the route adopted by the EU. As well as looking at how laws are made in the EU we will also look at this hot topic about what laws Britain may change as a result of “Brexit.” We will explore this in detail in our “making sense of Europe” presentation.
NASPP:What is a common mistake companies make and how can they avoid this?
Bob: A common mistake is to assume that there is always a uniform or “one size fits all” position in Europe. The EU was supposed to be a “single market.” It does not, however, have one set of laws which apply across the EU. European law takes the form of either a directive or a regulation. A regulation is a legal act of the EU that becomes immediately enforceable as law in all member states simultaneously (e.g., the Market Abuse Regulation (EU) No 596/2014) which came into effect on 3 July 2016). Directives, however, need to be transposed into national law and therefore offer some flexibility for member states in implementing them. As long as the objective is achieved, stricter requirements may be implemented if a member state wishes. This has resulted in significant inconsistencies in the EU. For example, the European Prospectus Directive 2003/71/EC (as amended) provides some de minimis thresholds whereby for offers falling below those thresholds, no prospectus is required. One of those is where the total consideration for the offer in the EU is less than €5 million (calculated over 12 months). But the Netherlands for example have set this at €2.5 million. To avoid this common mistake—be careful! Do not assume that the position in one member state is the same as another. Advice should be obtained in each member state particularly in relation to aspects fundamental to running a compliant incentive program such as whether a prospectus is required or the data protection requirements to be applied when transferring participant’s data.
NASPP:What is the silver lining to compliance in Europe?
Bob: Europe is difficult—but it is not impenetrable. Companies have to adopt a sensible European compliance program relative to their businesses that is defensible on audit. So companies should make themselves aware of the difficulties, issues and risks and use specialists who know the pitfalls and the solutions. It is therefore possible to “make sense of Europe”!
NASPP:What is something people don’t know about you?
Bob: One of us is a cheese connoisseur and can name (and correctly guess the weight of!) over 150 different cheeses, the other lived in and taught at a school in Lesotho—guess which is which!
The 24th Annual NASPP Conference will be held from October 24-27 in Houston. This year’s program features close to 100 sessions on today’s most timely topics in stock and executive compensation; check out the full agenda. Online registration is now closed but we are happy to register attendees onsite in Houston.
