NEW YORK, Jan. 14, 2014 /PRNewswire/ -- Computershare
(ASX: CPU), the world's foremost provider of investor and equity
plan services, announced today that its US Plan Managers business
enhanced its online restricted stock platform to include retirement
eligibility taxation functionality for companies who offer equity
plans with retirement eligibility provisions.
Clients can opt to have Computershare automatically calculate
the taxes on restricted stock or restricted stock units (including
performance awards) at the point of retirement eligibility, prior
to year-end, or periodically as chosen by the plan sponsor.
Computershare will then report the taxation details to clients so
they can collect taxes in a timely manner.
"Computershare has always been committed to investing in its
technology to provide best-in-class service to our clients and
their equity plan participants," stated Kevin Brennan, president, US Plan Managers.
"Each year, we devote at least 10 percent of our annual revenue to
technology investments to ensure our systems meet and exceed the
needs of our clients."
In addition to retirement eligibility taxation, Computershare
now offers:
- Multi-currency awards for restricted stock.
Computershare administers restricted and performance stock awards
and units in more than 70 currencies. Recordkeeping and
presentation of the awards will be in the currency of the
award. When sold, the net proceeds can also be paid out in
the same currency or converted to other currencies.
- Expanded multi-lingual options. Computershare has added
five new language options for all plan participants to view web
pages – Spanish (Latin American), French (Canadian), Japanese,
Korean or Chinese (Traditional).
- Trigger orders for stock appreciation rights (SARs).
Much like a limit order for market-traded instruments, participants
can submit an order in advance to exercise their rights when the
SAR fair market value meets or exceeds the price selected by the
participant. Trigger orders can be requested online or by
contacting Computershare's call center.
- Additional choices for net settled exercises.
Participants can now withhold shares to cover option costs and
taxes and receive the remaining shares. This is in addition to the
existing capability to sell the remaining shares.
Computershare's US Plan Managers offers full-service
administration for all types of employee plans. For more
information on the full range of services offered, please visit
cpm.computershare.com or call 888-404-6333.
Computershare (ASX:CPU) is a global market leader in
transfer agency and share registration, employee equity plans,
proxy solicitation and stakeholder communications. We also
specialize in corporate trust, mortgage, bankruptcy, class action,
utility and tax voucher administration, and a range of other
diversified financial and governance services. Founded in 1978,
Computershare is renowned for its expertise in high integrity data
management, high volume transaction processing and reconciliations,
payments and stakeholder engagement. Many of the world's leading
organizations use us to streamline and maximize the value of
relationships with their investors, employees, creditors and
customers. Computershare is represented in all major financial
markets and has over 14,000 employees worldwide. For more
information, visit www.computershare.com
For more information, please contact:
Rachel Hamilton-Wilkes
Computershare
+1 310 751 1817
rachel.hamiltonwilkes@computershare.com
SOURCE Computershare