A Year in Review How Shareworks has evolved

Transcription

1 A Year in Review How Shareworks has evolved Session A1: May 24, :15 11:20 a.m. Jordan Rindahl, Product Manager Jeff McPherson, Director of Product Management Mike Esposito, Product Manager, Financial Reports David Milne, Product Manager

2 Simplify plan administration

3 Plan Administrator Dashboard

4 Trading Schedules Stock Options Stock option exercise/sell now supported via trading schedules

5 Blackouts Option to setup a blackout without displaying the dates

6 Automatic Extension of Expiry Dates During Blackout New option to automatically extend expiry dates that would occur during a blackout Also applies to expire cancel dates Extension period is setup for a number of business days based on the fund Additional option to extend awards that expire during the extension period after the blackout ends

7 Financial Reporting Valuations added additional filters to make searching for valuation records, or setups, easier Expense Report custom employee grant fields available for the expense report ASC718 update APIC transitional label changes, Dilution report calculation toggle

8 Financial Reporting New Financial Reports built in Ad Hoc: Expense report for Matching Share plans New datasets New snapshots IFRS DTA balance with mobility proration (in progress)

9 Financial Reporting Sample fields:

10 Grant Agreement Acceptance Report Grant Agreement details have been added to Employee Grants data source Use Grant Agreements Allow Electronic Acceptance Use Grant Agreement Configuration Grant Agreement Template Name Grant Agreement Documents Grant Agreement Configuration Name Grant Agreement Configuration Description

11 Improved Employee/Stakeholder Search Search will return multiple results based on your search string

12 Grants page updates Locked headers and footers

13 Grants page updates Click sort based on grant details

14 ISO Dispositions A Repurchase will trigger a disposition Will be set to Qualified or Disqualified Available on November 25 A Transfer will trigger a disposition User will define the disposition type Qualified Disqualified Not a disposition Unknown Available on December 16

15 Disposition displayed on stock certificate Disposition details are visible to stakeholders

16 Vesting schedules for ISO grants Vesting schedule from the ISO grant is applied to the NQ Vesting schedule name will be the same! Vesting schedule name becomes: ISO/NQ Split Name of the vesting schedule

17 ISO Grant The employee grant number is linked

18 ISO Grant The vesting schedule is consistent

19 Enhancing the participant experience

20 More languages added

21 Livechat Service

22 Goodbye transaction passwords Three options available for Transactions Passwords Transaction Password (How it works today) None Login Password/None if logged in via SSO

23 Multiple Bank References Withdrawal, Exercise and Release process will allow participants to select any of their bank accounts in Shareworks or create a new one Mark a default bank account to be used when no election made

24 Mobile app

25 Mobile Release Elections Complete a Release Election View elections made recently

26 Mobile withdrawals from Canadian ESPP

27 Mobile withdrawals from Canadian ESPP

28 Mobile Transactions from PTM Plans Full support for selling and transferring long shares from Canadian U.S. Australian Post Tax Matching Plans

29 Ensure compliance with tax authorities

30 Common Reporting Standards Similar to FATCA, we will be rolling out the CRS work in the coming months. Initial work is being done to store the information that we need to report (address, date of birth, tax residency, TINs and more). Later phases will focus on the reporting that is needed for each country. $

31 Common Reporting Standards Initial login requirement We will be gathering information on all participants Participants will be required to re-certify if there are any changes to their indicia (country change, phone number change, new TIN added..) Participants will be able to view, edit and change their information in Shareworks. This will start to become a question from clients in coming months. $

32 Common Reporting Standards List of the countries that we are supporting from a reporting perspective: Country Certification Period Start Australia First Report Due Canada June 2017 May 2018 Germany Jan Hong Kong United Kingdom Jan 2016 May 2017 $

33 Common Reporting Standards Support for Common Reporting Standards (CRS) has been added Now have the ability to add CRS as an initial login requirement (toggled off for SW) Participants responses can be updated at any time by the participant and by the PSG Information from the participant s account is auto filled Should there be an indicia change, the participant will have to re-certify at their next login

34 CRS - Indicia Changes Indicia changes include: Home address country Phone number Country a bank account is domiciled in Tax identification number

35 Global Tax Mobility Key Enhancements: Support for payroll employee groups all withholdings for a ptp sent to account for their payroll employee group Ability to create separate rulesets for ISOs, including support for disqualifying dates Ability to assign customized tax rates to employees based on employee group elements Ability to assign customized pro-ration rules to employees based on employee group elements Monthly capped tax resets 35

36 Tax Slips New Combined 1099 Introduced for subset of clients this year Provides per-transaction breakdown Tables for short and long term, covered and noncovered sales, and dividends

37 Pseudo 1099 Statements What is it? A detailed (per-transaction) breakdown of 1099B and 1099DIV activity, on a single statement For US participants with non-us plans and grants For informational purposes not filed with the IRS

38 Global Coverage Regional plan refinements

39 Multiple Currency 423 Plans Ability to run non-usd 423 Plans in Shareworks Tax contributions in any currency Purchase stock on any exchange $25K USD limits applied based on purchase date FX

40 Matching Shares in a 423 Plan New Flag at the 423 savings plan to enable matching shares On purchase, shares deposited in a PTPM plan with a matching offering period If 423 shares are withdrawn before the matching shares vest, forfeitures can be setup

41 German Taxes Working to support the fun that will be German taxes. The team is looking at solving the issue we have where fee information (YTD etc) needs to be stored for each product. The goal is to have this information stored at the employee level, that can then be used by all products. More info on this to follow!

42 Questions?

43 Additional Resources Need more? Online Learning Shareworks Certification Shareworks Workshops Convenient and completely selfdirected, our online lessons provide you with industry context and the how-to in Shareworks. Shareworks Certification is a great way to quantify your knowledge, develop key technical skills and prove yourself invaluable to your company s administration team. Roll-up your sleeves and join us all year round, either in person or online, for hands-on workshops on a variety of Shareworks topics. Visit solium.com/education

44 Contact Us David Milne Product Manager Solium Michael Esposito Product Manager Solium Jordan Rindahl Product Manager Solium

45 Appendix Slides

46 Termination Forecast Statement Parameters have been removed from the statement Grants with an outstanding balance of ZERO appear on the PDF statement Estimated Termination Date is now first, then As At Date The status is related to the plan setup Stock Option and Awards Share Purchase and Holdings Estimated Termination Date can be earlier than the generation date

47 Optimize Solium internal processes

48 Treasury Letters New Templates available for RSU and RSA releases

49 New Tags with Treasury Letters Release Letters Total Shares Released Release Appendices Static Text columns Release, RSA Granted, RSA Canceled Appendices DRS Account Number Differs from existing DRS Account Number field which is for delivery to share purchase

50 Treasuries Tags Ability to pull DRS Account number to RSA Grant and RSA Cancel appendices templates Static text column is available on RSA Grant and RSA Cancel appendices templates

51 Valuation Cleanup Midpoint now references SAB 107 simplified method Can now only choose revaluation type, and not the broken close date Cleaner display for volatility symbol selection

52 Private Symbols Some controls/warnings put in place regarding private symbols: Only private symbols assigned to a company are available for valuation/volatility purposes (just in case) Warning when assigning a private symbol to a company Private symbols are not allowed in weighted symbols

53 China SAFE updates Payments to China SAFE accounts must use the registered party This will now default to the contracting party in Shareworks for the client Phase 2 with customizable names, and expected disbursement accounts coming in 2017

54 Fractional exercises Added ability to create a sale/transfer configuration for selling fractional units Company level setting to enable Enables ability to allow fractional exercise, and option to force exercise of entire amount Only allowed for net withholding exercise type Fractional amount is always applied to net withheld

55 Fractional exercises On SA side company page, enable fractional share exercise

56 Fractional exercises In net withheld exercise configurations, enable fractional entry Optionally choose to force exercise all Assign configuration to awards

57 Cemex Participant Tax Report Initial report for calculating gain/loss on transactions with inflation adjusted cost basis Further improvements in 6.15 Canned report for Cemex

58 423 Enrolment Enhancements For 423 plans you can now set the enrolment to be at the Offering Subscription Level instead of the normal Savings or Purchase plan level. 58

59 423 Enrolment Enhancements This will allow for greater control in allowing an employee to be eligible for one offering subscription and not another. 59

60 423 Enrolment Enhancements As with PTPM plans, this information can be updated via import and will have the option of back office edit functionality for any post enrolment period corrections (same as PTPM plans support today) Coming in a future release will be the ability to evergreen this information from one offering to another is the participant is eligible for the next offering. Note that only new 423 plans can use this functionality, you cannot change from plan level to offering subscription level. 60

61 Money Movement Updates for Swiss local money movement (SIC payments) SIC payments now require a SWIFT Code in place of a SIC Code Cash Reconciliation Report has a new parameter to filter results based on disbursement date 61

62 Money Movement Allowed characters for Legal Banking names expanded SEPA Payments are no directed to XML files instead of Paymul files Coming soon Currency control payments always routed through HSBC Connect Foreign currency contribution support for 423 plans

63 Trading Schedules Termination Cancel Type Added two options to the trading schedule configurations Cancel open limit order upon plan cancellation

64 Trading Schedules Restrict Exercise Methods Restrict exercise methods that can be utilized in a trading schedule on the configuration.

65 Trading Schedules Failed Sell Order Instruction Recovery On the trading schedule approval screen, individual Failed instructions have a "Reset" and "Cancel" link in a column next to the trading instruction.

66 Trading Schedules Allow Back Office Withdrawals When a participant has a trading schedule, the override checkbox allows back office withdrawals to be placed for trading schedules, even in the presence of a blackout; NTA still blocks these transactions.

67 Trading Schedules Completed the support for option awards in trading plans creation and execution. Terminated participants cannot create a Trading Schedule Display link to corresponding trading schedule on the exercise Transaction History screen Allow shares from a future exercise to be sold from a trading schedule Warn user that participant has an active trading schedule if changing their status to NTA. Changing the transaction status may affect the employee s active trading schedule.

68 Trading Schedule Enhancements Enhancements to management of trading schedules Track and display CC/SA who created trading schedule for a participant in Trading Schedule Status History Table Admins can transition trading instructions from Cancelled to Failed Added indication to exercise book when an exercise was the result of a trading schedule

69 Trading Schedule enhancements Enable CC accounts to create trading schedules on behalf of participants. Ability to define at the configuration level how failed instructions are to be treated. Ability to mark an exercise instruction as manually placed.

70 Section 16 Forms Allow for deletion of multiple transactions in Forms

71 ISO Disqualification Date ISO Disqualification Date field was not visible on the employee grant screen Has been added to ad hoc reports Stock Options and Awards > Employee Grants