Our popular “Meet the Speaker” series, featuring interviews with speakers at the 22nd 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 Marsha Tepper of CompIntelligence, who will lead the session “Manual Manipulation Madness.” Here is what Marsha had to say:
NASPP: Why is the topic of manually preparing calculations and reports so timely right now and how can people struggling with this benefit from your session?
Marsha: Every individual working in stock plan has challenges with the amount and type of manual work that must be done. Even the best administration platforms are not flexible enough to satisfy all the processing, reporting and communication needs. This session will spotlight two well-known large companies and what they are doing to reduce manual work in their stock plan departments. I think this topic will be informative to anyone struggling to find cost-effective solutions and help them take a step back and really look think about how they do their job today.
NASPP: What common mistake do companies make when it comes to manual calculations?
Marsha: One common mistake is to convince yourself that you are too busy to review how you work. So many of us say “I am too busy to figure out how to do this task differently, I just need to get the work done.” It is a project to change but usually very worthwhile.
NASPP: What is the most innovative solution/response you’ve seen to automate a manual process?
Marsha: I believe we are going to talk about one of the most innovative solutions I have seen to reduce manual work during our session. We will discuss how a very, very manually intensive process was automated by creating a rules-based engine to analyze the data.
NASPP: What is something you learned from the NASPP?
Marsha: I learned how to play roulette at a NASPP Conference in Vegas years ago! Seriously, I have learned that we are a small community of dedicated professionals all excited and passionate about stock plans. There are some people I see only at the NASPP Conference but I feel like they are my friends as we are all part of this industry. I learn something new every Conference and I have been in this industry 30 years!
About the NASPP Conference The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 22nd 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 Ellie Kehmeier of Steele Consulting, who will lead the session “What You Don’t Know About Tax Accounting CAN Hurt You.” Here is what Ellie had to say:
NASPP: What is a common misperception about your topic?
Ellie: A very common misperception is that tax accounting for equity compensation is only relevant to members of the tax department. However, this issue is just one of many that the tax department deals with, and most tax professionals don’t specialize in equity compensation. A stock plan administrator that understands these concepts can help make sure numbers are correct, errors in the financial statements are avoided, and can streamline the process by making sure the right reports are run the first time around.
NASPP: What common mistake do companies make and how can they avoid it?
Ellie: One common mistake that I see relates to the requirement that companies reclassify excess tax benefits (“windfalls”) from operating to financing cash flow on the statement of cash flows. I can look at a company’s financial statements and spot potential problems in two minutes. This reporting requirement is often handled by the SEC reporting group instead of tax, with data from stock plan administration. If the stock plan administration professional knows what is needed here, this is a really easy mistake to avoid. A number of other common mistakes are made because people don’t understand this area very well or don’t understand when they need some specialized help. Our panel’s goal is to demystify the issues, and help the tax and stock plan admin people learn ways to help each other get it right with the least amount of pain possible!
NASPP: What is the silver lining to your topic?
Ellie: A silver lining to the complexities of tax accounting for equity comp? Does having this be my main source of revenue for the last ten years count? Okay, a silver lining to this topic is that if people follow our suggestions, then tax and stock plan admin will develop a deeper appreciation and (we hope) fondness for each other. And the stock plan admin professionals will minimize the time they spend running reports out of their equity-tracking software, because they’ll better understand what they need, and what questions they need to ask of their tax counterparts, to get it right the first time and keep the tax folks out of trouble!
NASPP: Tell us three things people don’t know about you.
Ellie: Gosh, I’m such an open book. Okay, let me try:
I was supposed to be a forest ranger when I grew up.
Related to number 1, I love camping. When our youngest goes off to college in the fall, we’re going off camping with our new air mattress and sleeping bags. Looking forward to waking up to birds chirping and my husband’s mean camp “mcmuffins.”
I’m a chocoholic, especially good dark chocolate with nuts. I’m currently addicted to home-made banana splits with vanilla ice-cream, peanuts and chocolate sauce (and it doesn’t even have to the good stuff).
About the NASPP Conference
The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 22nd 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.
About the NASPP Conference
The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 22nd 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.
NASPP: Why is your topic particularly timely right now?
Neta: Almost everyone has a laptop and a smartphone, and many have a tablet as well. As we interact with our devices we experience subtle shifts in our expectations and behaviors. It is no longer convenient to pick up the phone and get an answer to your question, or scan and return a form to enroll in a new opportunity. We expect easier methods of interaction, and our employees are no different. Attending our session on technology and the participant experience will give you some great ideas on how you can ensure you are using technology to its fullest, so that the value of your plans do not fall behind.
NASPP: What actions should companies be taking now?
Neta: Register for the NASPP Conference and attend this session! Also, companies should review their current technology use in plan automation and education practices and implement improvement plans where needed.
NASPP: What is the most innovative solution/response you’ve seen to your topic?
Neta: Advanced technology solutions to expensive and risk-laden problems in our industry, like tax mobility.
NASPP: If you had a store on Etsy, what would you sell in it?
Neta: I would sell advice. Look out for my weekly specials.
About the NASPP Conference
The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 22nd 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.
NASPP: Why is your topic particularly time right now?
Geoff: In our post-Sarbanes-Oxley, post Dodd-Frank world, getting governance right is no longer a “nice to have.” Rather, it’s a necessary element of corporate survival. By ensuring alignment of executive interests with those of shareholders, share ownership policies (share ownership guidelines + share retention requirements) represent a critical tool in a company’s corporate governance arsenal. And while the prevalence of share ownership guidelines has remain fairly steady over the past five years, the use of share retention requirements as an enforcement mechanism has more than doubled during this same period. This added wrinkle of share retention can add layers of complexity to the issuer/vendor relationship and is one of many administrative challenges we’ll be covering in our session.
NASPP: What are some best practices companies should implement?
Geoff: Many executives and Board members are starved for information about their share ownership guideline compliance status. Frequent questions include: What are my requirements? Have I met them? What happens if I sell after an upcoming vesting? While measuring compliance with share ownership guidelines is most commonly a once-a-year process, we find that leading companies take a more holistic, ongoing approach to bridging potential knowledge gaps among its executive and Board populations. Some companies have created modeling tools demonstrating the compliance impact of anticipated sale transactions. Others have incorporated ownership guideline “chats” as part of the pre-clearance process. But one theme that runs central through these best practices is that of more frequent, more expansive communications efforts.
NASPP: What is a common misperception about your topic?
Geoff: With many companies trading at or near all time highs, share ownership guideline (SOG) compliance is a complete non-issue. To which JFK may have responded—”the time to repair the roof is when the sun is shining.” As we’ll highlight during our session, even the most basic SOG design can present formidable tracking and communication challenges. Add in the fact that markets often fall faster than they rise and you have a compelling case to ensure your SOG compliance house is in order.
NASPP: If you had a store on Etsy, what would you sell in it?
Geoff: Rainbow loom bracelets. I’ve been classically trained by three of the best U10 loomers around.
About the NASPP Conference The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 22nd 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 Reese Bacon of BDO, who will lead the session “The Role of Equity in Sales Force Compensation.” Here is what Reese had to say:
NASPP: What is the most critical thing NASPP Conference attendees need to know about using equity in sales compensation?
Reese: Equity can be a very effective reward element for sales professionals.
NASPP: What common mistake do companies make when offering equity to sales professionals and how can they avoid it?
Reese: A common mistake is not considering equity within the whole framework of the reward structure and not clearly specifying what objectives equity is to play.
NASPP: What is the worst horror story you can tell about equity used in sale compensation?
Reese: Post-IPO companies losing key talent because equity packages were too rich.
NASPP: If you had a store on Etsy, what would you sell in it?
Reese: I wouldn’t sell it but I would give away free inspiration, joy, and hope for anyone needing it that day.
About the NASPP Conference
The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
We are excited to bring our popular “Meet the Speaker” series back to the NASPP Blog, featuring interviews with speakers at the 22nd Annual NASPP Conference. This 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 “Key International Updates.” Here is what Valerie had to say:
NASPP: Why are global updates particularly timely right now?
Valerie: Just about every company is global these days. Companies are growing into new locations at a faster pace than ever before and there is a real need to stay on top of the securities laws, exchange controls and tax issues. The tax authorities in Ireland, UK, Hong Kong and Australia are not willing to overlook a US company’s ignorance of tax obligations. We are also seeing companies penalized by the China SAFE exchange control authorities and the Philippines securities authorities for not registering their plans. Key international updates is a critical session for any company that is global—whether they have operated for 10 years or 10 days. The rules change all the time and this session will walk you through those changes and make sure that you get some real insights from the global practitioners at Baker & McKenzie and Ernst & Young as to how to manage global equity compliance.
NASPP: What are some best practices companies should implement for their global stock plans?
Valerie:
Consider a global form of award agreement—and by that, I mean one that covers all countries you offer equity in, not a separate form for each country. The reason—employees move over the life of the equity award and you really need to make sure that your agreement is drafted to take that into account. Plus, it’s a whole lot easier to administer.
Do a quarterly assessment of any new tax or legal developments affecting equity awards and update your agreements and compliance strategy accordingly.
Document what you did to comply with the rules and why and make sure everyone who needs to know, knows what decision was made and why.
Talk to someone who offers equity in a country if you have not granted there before. There are lots of practical tips that you can get from those who have done it before.
NASPP: What is the silver lining to global stock plan compliance?
Valerie: The silver lining is that because there are more people granting equity globally, there is a better understanding of how to do it and the traps to avoid. It’s great to have both Baker & McKenzie and EY speakers on this panel because we are able to cover all of the issues from tax and securities laws to data privacy and exchange controls. This gives the audience a complete picture of the new developments and good practical tips.
NASPP: Tell us three things people don’t know about you.
Valerie:
I grew up in Los Angeles, the daughter of two (would-be) actors.
I’m a former professional ballet dancer.
I worked at the Federal Deposit Insurance Corporation as a paralegal prior to attending law school.
About the NASPP Conference
The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
Our popular “Meet the Speaker” series, featuring interviews with speakers at the 22nd 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 Doreen Lilienfeld of Shearman & Sterling, who will lead the session “Top Compensation Traps in Mergers and Acquisitions.” Here is what Doreen had to say:
NASPP: Why is the treatment of compensation in mergers and acquisitions a particularly timely topic right now?
Doreen: M&A activity is once again at a high. Given the complexities of the ever-changing legal landscape, keeping up to date with the changing rules and best practices is essential.
NASPP: What common mistake do companies make with their stock awards?
Doreen: One common mistake is not planning in advance for all potential outcomes when making equity grants. A company has the most flexibility at the time of grant, as opposed to trying to make amendments later.
NASPP: What is the silver lining to the treatment of awards in a CIC?
Doreen: On the positive side, with proper advance planning and good business direction, a company can anticipate many common situations that arise in M&A transactions and plan accordingly.
NASPP: Tell us three things people don’t know about you.
Doreen: Three things people don’t know about me:
I have worked in six offices of Shearman & Sterling (New York, San Francisco, London, Frankfurt, Paris and Palo Alto).
Although I am a native New Yorker, I have taken (and passed) the California bar.
I take long subway rides to the outer boroughs of New York with great frequency with my six-year old.
About the NASPP Conference The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
We are excited to bring our popular “Meet the Speaker” series back to the NASPP Blog, featuring interviews with speakers at the 22nd Annual NASPP Conference. This 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.
NASPP: Why is are financial and reporting controls a particularly timely topic right now?
Berni: It’s been in the news and on NASPP blogs: SEC Chair Mary Jo White has stated “This coming year promises to be an incredibly active year in enforcement, as we continue to vigorously pursue wrongdoers and bring enforcement actions across the entire industry spectrum.” Their focus? Financial reporting fraud and accounting irregularities, amongst others. So ask yourself: would you be prepared for an audit if the SEC showed up on your doorstep tomorrow?
NASPP: What actions should companies be taking now?
Berni: Companies should take the time to implement processes to demonstrate that controls are in place. In addition, document the policies and procedures.
NASPP: What is the worst that can happen if a company doesn’t have good controls in place?
Berni: Non-compliance and/or fraud can land executives in jail.
NASPP: If you had a store on Etsy, what would you sell in it?
Berni: If I had a store on Etsy, I would sell dance classes or crochet/knitted scarves.
About the NASPP Conference The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!
We are excited to bring our popular “Meet the Speaker” series back to the NASPP Blog, featuring interviews with speakers at the 22nd Annual NASPP Conference. This 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.
NASPP: Why is your Section 16 compliance particularly time right now?
Alan: Section 16 compliance is a particularly timely topic because the importance of the reporting function for compliance personnel remains high. Mistakes result in highly visible delinquency disclosures in the company’s proxy statement, and the rule requiring disclosure leaves little room for forgiveness. The person responsible for Section 16(a) compliance needs to be aware of recent developments in an envirnoment of changing types of equity compensation.
NASPP: What are some best practices companies should implement?
Alan: Every public company should have a designated compliance person who is responsible for preparing and filing Section 16(a) reports and who is empowered to assure that directors and officers provide to him or her adequate information about their securities transactions in time to permit timely and accurate reporting on Form 4.
NASPP: There’s always a silver lining; what is the silver lining to Section 16 reporting?
Alan: Rarely does a failure to file a Form 3 or Form 4 on time result in any SEC interest in bringing an enforcement action. Disclosure of the deliqnency in the proxy statement is the extent of the insider’s punishment.
NASPP: Tell us something people don’t know about you.
Alan: I was serving as special counsel to SEC Chairman John Shad when some of the staff had the idea to start the George Fitzsimmons Memorial Golf Classic in honor of the late Secretary. I presented to Chairman Shad the “order” declaring the tournament an official SEC tournament. I came in second place in one of the early Fitzsimmons tournaments in the 1980’s, and won the event in 1990. My golf has never been as good since.
The 22nd Annual NASPP Conference will be held from September 29-October 2 in Las Vegas. This year’s program features 60+ sessions on today’s most timely topics in stock compensation; check out the full agenda and register today!