Equity Expert: A Podcast from the NASPP: Recent Episodes
National Association of Stock Plan Professionals
News, insights, and conversations on all matters equity and executive compensation. Created and moderated by the National Association of Stock Plan Professionals, the largest association for the stock compensation community, with over two decades of leadership providing expert resources, education, and other benefits for more than 6,000 members.
In this episode of the NASPP Equity Expert Podcast, we interview Tamas and Spela from Equity People. Tamas and Spela, experienced equity consultants, share their insights on managing equity during down rounds, the importance of transparency and communication, and the differences in equity perception between the US and Europe.
Key Points Covered
- Managing Equity During Down Rounds:
- Importance of Transparency and Communication:
- Regional Differences in Equity Perception:
- Planning and Benchmarking for Equity Grants:
Additional Resources:Down Rounds: How to Strategically Adapt Your Share Option Plan During Volatile Markets
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In this episode of the Equity Expert Podcast, we interview Bill Storey, Managing Partner of Your Equity Solutions. Bill, an experienced equity compensation consultant, shares his insights on the accounting treatment of equity compensation, the importance of avoiding silos, and practical advice for managing equity plans.
Key Points Covered
- Introduction to Bill Story and Your Equity Solutions
- Foundational Knowledge Needed for Equity Compensation Accounting
- The Importance of Avoiding Silos and How to Prevent Them
- Best Practices for Managing Equity Compensation
Additional Resources:NASPP | Accounting for Stock Plans
NASPP | Stock Plan Fundamentals
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In this episode of the NASPP's Equity Expert Podcast, we are joined by Maor Levran, the CEO and co-founder of Slice. Maor, a former corporate attorney, discusses his transition from law to entrepreneurship, the founding of Slice, and the complex world of international equity transactions.
The key points of this episode include:
- International Equity Transactions
- Global Acceptance of Equity
- Winning the War for Talent
- Importance of Staying Updated on Compliance
Additional Resources:Global Plan Design Bootcamp
Around the Globe: A Guide to Equity Grants in Poland's Thriving R&D Landscape
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In this episode of the NASPP Equity Expert Podcast, we are joined by Jonathan Fish, the CEO and co-founder of Cap Gains. Jonathan brings his extensive experience as a CPA and public accountant, focusing primarily on venture funds and private equity funds. He shares insights into the world of Qualified Small Business Stock (QSBS), a powerful tax incentive that can offer 100% capital gains tax savings.
The key points of this episode include:
- Introduction to QSBS
- Understanding QSBS and its benefits
- Historical context and changes over time
- Importance for venture funds, entrepreneurs, and early employees
- Corporate and Shareholder Level Requirements
- Requirements at the corporate level, such as being taxed as a C Corp and having less than $50 million in gross assets
- Shareholder requirements, including original issuance of stock and a five-year holding period
- Common pitfalls and misconceptions around QSBS eligibility
- Navigating QSBS Regulations and IRS Audits
- The role of private letter rulings from the IRS in determining qualified trades or businesses
- Potential complications from actions like stock redemptions, S elections, and exceeding asset thresholds
- Recent changes in tax legislation affecting QSBS, such as the capitalization of R&D expenses
- Market Trends and Awareness
- The impact of market liquidity and legislative changes on the popularity and understanding of QSBS
- Strategies for maintaining eligibility and maximizing benefits, including the Section 1045 rollover provision for gains reinvestment
Additional Resources:
- Founders, Unlock Big Tax Savings with Qualified Small Business Stock (QSBS)
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In this episode of the Equity Expert Podcast, we are joined by DeRonnie Pitts of Fidelity Private Shares where we discuss his experience with Cap Tables and their affects on fundraising rounds and investor perception.
The key points of this episode include:
- Guest Introduction and Background: 0:00 - 4:01
- Importance of Cap Table Management: 4:02 - 12:43
- Role of Equity in Motivating Employees: 12:44 - 18:15
- Discussion on "Salary Men" and Investor Expectations: 18:16 - 21:24
- Best Practices for Cap Table Management: 21:25 - 25:55
Additional Resources:
Solution Showcase: Cap Table Event
Best Way to Prepare For an Exit? Get Your Cap Table Right From The Start!
Founders Mistakes - Cap Tables
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In this episode of the Equity Expert podcast, we are joined by Chris Hoffman the founder of Equity Admin co. A Cap Table specialist with extensive experience in managing the equity of companies ranging from newly incorporated startups to some of the largest private companies in the world.
The key points of this episode include:
- What is a cap table?
- Common mistakes founders make
- Best Practices
Additional Resources:https://www.naspp.com/blog/the-crucial-role-of-cap-tables
https://info.naspp.com/cap-tables-showcase
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In this episode of the Equity Expert podcast, we are joined by Stepan Kzrtian a former corporate lawyer with over a decade of experience helping founders navigate the legal journey across all stages of the startup lifecycle.
The key points of this episode include:
- Understanding the 83(b) Election
- Issuing Founder Stock
- Cap Table Management
- Should You Grant Equity as a Percentage
Additional Resources:83(b) Election: The Multi-Million-Dollar Ticking Time Bomb
What is the 83(b) election?
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Kathy Son on the key moments that helped her career in equity compensation and tactics that can help you grow your own career.
Episode Notes:
- Kathy’s start in equity compensation (1:06)
- When she realized she wanted to pursue this profession (3:14)
- Key moments in getting to her current role (5:33)
- Strategies to advance yourself in equity comp (8:06)
- Advice to her younger self (10:52)
- Advice for advocating for yourself (14:54)
- Current goals (18:27)
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Learn how to prepare for T+1 and how the shortened settlement cycle will change stock plan administration from a day-to-day and strategic perspective.
Episode Notes:
- Effect of T+1 on day-to-day operations (0:11)
- Impact of T+1 on strategy for stock plans (3:32)
- Trading windows and T+1 (6:50)
- Risks created by a shorter settlement period (8:58)
- Working with internal and external partners to ensure a smooth transition (10:35)
- How T+1 will change the future of stock plan administration (14:34)
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Episode Notes:
- SAFE registration for options and awards (1:52)
- SAFE registration for ESPPs (5:10)
- Establishing a foreign exchange bank account (7:42)
- Taxation of equity awards in China (10:06)
- Possible elimination of preferential tax treatment (14:57)
- Where to hold shares for Chinese nationals (21:22)
- Mandatory cashless or same-day-sale programs (22:28)
- Current events (25:15)
- Best practices (27:31)
Resources Mentioned in This Episode:
- Equity Administration Survey
- Webinar: Best Practices in Stock Plan Administration
- Webinar: Global Stock Plan Administration Trends
Additional Podcasts in This Series:
- Trends in Mobility Compliance
- Tax Withholding Practices for Equity Awards
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Data on how companies manage on-time tax deposits, determine tax withholding rates, respond to employee requests for additional withholding on equity plan transactions and more.
Episode Notes:
- Complying with IRS deposit deadlines (1:36)
- Tips for depositing taxes on time (3:45)
- Pre-funding tax deposits (5:25)
- Defining FMV as the prior day’s closing price (6:59)
- Allowing employees to request additional withholding on equity plan transactions (8:35)
- Determining tax withholding rates for non-US employees (14:00)
- Frequency of reviews for global tax compliance (21:06)
- Methods of staying informed of global developments affecting equity plans (22:37)
- Working with local in-country personnel to stay informed (24:49)
Resources Mentioned in This Episode:
- Equity Administration Survey
- Webinar: Best Practices in Stock Plan Administration
- Webinar: Global Stock Plan Administration Trends
- Podcast: Trends in Mobility Compliance
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Data on how companies manage on-time tax deposits, determine tax withholding rates, respond to employee requests for additional withholding on equity plan transactions and more.
Episode Notes:
- Complying with IRS deposit deadlines (1:36)
- Tips for depositing taxes on time (3:45)
- Pre-funding tax deposits (5:25)
- Defining FMV as the prior day’s closing price (6:59)
- Allowing employees to request additional withholding on equity plan transactions (8:35)
- Determining tax withholding rates for non-US employees (14:00)
- Frequency of reviews for global tax compliance (21:06)
- Methods of staying informed of global developments affecting equity plans (22:37)
- Working with local in-country personnel to stay informed (24:49)
Resources Mentioned in This Episode:
- Equity Administration Survey
- Webinar: Best Practices in Stock Plan Administration
- Webinar: Global Stock Plan Administration Trends
- Podcast: Trends in Mobility Compliance
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How companies track mobile employees and manage tax compliance for their equity awards.
Episode Notes:
- Global vs. Us domestic mobility (1:44)
- Business travelers (10:19)
- Remote workers (14:30)
- Getting budget for mobility compliance (21:06)
- Tracking employee locations (22:37)
- Use of third-party advisors to assist with tax calculations (26:51)
- How to approach mobility compliance (29:55)
- Tracking mobility employees is important even with no other compliance (36:44)
Resources Mentioned in This Episode:
- Equity Administration Survey
- Webinar: Best Practices in Stock Plan Administration
- Webinar: Global Stock Plan Administration Trends
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Why stock price volatility is a problem when it comes to sizing grants and how using a multiday average and other approaches can help you manage your burn rate.
Episode Notes:
- How companies typically determine grant sizes (0:58)
- The effect of declining stock prices on grant sizes (2:15)
- Pay equity considerations (4:19)
- Using a multiday average to denominate grants (7:14)
- What averaging period to use (10:09)
- Disadvantages of a multiday average approach (14:15)
- Other approaches to manage share usage (15:47)
- Restricting award eligibility to control burn rates (18:38)
Resources Mentioned in This Episode:
- Sizing Grants During Periods of Market Volatility
- 2 Reasons Multiday Averages Make Sense for Grant Sizing
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Galahad Dong on how his experience in the military helps him lead HRIS and Total Rewards (and equity compensation) at Simpson Strong-Tie.
Episode Notes:
- Galahad’s origin story (0:36)
- His current role as director of HRIS and Total Rewards (2:06)
- How military experience helps in managing stock plans (3:49)
- Background on Simpson Strong-Tie (4:53)
- How Simpson-Strong-Tie uses equity (6:21)
- DEI programs at Simpson Strong-Tie (8:52)
- Diversity at the NASPP and Galahad’s role on the DEI Task Force (11:53)
- Advice on growing your career in compensation (13:35)
Resources Mentioned in This Episode:
- The NASPP’s DEI Initiative
Additional Podcasts in This Series:
- Conversation with Christine Zwerling
- Conversation with Paz Dizon
- Conversation with Dana Hall
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Episode Notes:
- A note on this episode (1:34)
- Section 423 qualified vs. nonqualified plans (2:13)
- Fractional vs. whole share purchases (9:21)
- Cashless funding vs. limiting funding to payroll contributions (17:14)
- Lookback pricing vs. purchase date only pricing (28:04)
Resources Mentioned in This Episode:
- Four Ideas to Make Your ESPP More Equitable
- Could Fractional Shares Benefit Your Stock Plan Participants?
- Overlooked and Underrated: Why Fractional Shares Matter
- Should You Consider a Cashless ESPP?
- 2020 NASPP Deloitte Domestic Stock Plan Administration Survey
Additional Podcasts in This Series:
- Half Empty, Half Full: A Closer Look at TSR Awards
- Half Empty, Half Full: Thoughts on the SEC's Rule 10b5-1 Proposal
- Half Empty, Half Full: Our Thoughts on Four Stock Plan Topics
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Episode Notes:
- What are cashless ESPPs and how do they work? (3:50)
- Outset Medical’s path to a cashless ESPP (9:08)
- Features of Outset Medical’s new cashless ESPP (11:44)
- Employee reaction to Outset Medical’s new ESPP (13:31)
- Common concerns about cashless ESPPs (15:01)
- Current interest in cashless ESPPs (17:56)
Resources Mentioned in this Episode
- The Problem with ESPPs
- Should You Consider a Cashless ESPP?
- Four Ideas to Make Your ESPP More Equitable
- Are You Overvaluing Your ESPP?
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Episode Notes:
- What is spring-loading? (00:40)
- Reminiscing about the option backdating scandal (4:58)
- Summary of the SEC’s guidance (8:49)
- Impact of SAB 120 on grant valuation (10:31)
- Practical implications of SAB 120 (14:27)
- Disclosures required for spring-loaded grants (19:06)
- Tips to avoid inadvertently spring-loading equity awards (23:30)
Other Resources on This Topic:
- Examining the SEC’s New Guidance on Spring-Loaded Grants
- SEC Targets Spring-Loaded Equity Awards
- Staff Accounting Bulletin No. 120
- Why I Did Not Go To Jail
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Christine Zwerling of Twilio describes her career path in equity compensation, offers tips to be more productive, and discusses her experience and interest in DEI and her interest in the NASPP's DEI Task Force.
Episode Notes:
- Christine’s origin story (1:06)
- Career challenges (8:39)
- Getting the advice you need (14:01)
- Productivity hacks (15:51)
- Superpowers (20:27)
- Diversity at the NASPP and Christine’s work on the NASPP’s DEI task force (21:57)
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Hear how Paz Dizon, the current Head of Stock Plan Services at Jazz Pharmaceuticals, has crafted her career in equity compensation, including finding her superpower and leveraging relationships to drive learning and success.
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In this replay of one of our classic episodes, Sandra Sussman of SAP describes how they are able to offer an ESPP with a 40% match, offer financial assistance to help nonexecutives participate, and solve the challenge of tax withholding at the same time.
Episode Notes:
- SAP's path to the Own SAP plan (1:55)
- How Own SAP works (3:30)
- The 40% Match and 20 Euro subsidy (4:45)
- How SAP manages tax withholding on the plan (5:57)
- Administering the plan (7:08)
- Participation in the plan (8:26)
Other Resources on This Topic:
- Blog: Solving the Challenges of a Global ESPP
- Blog: Four Ideas to Make Your ESPP More Equitable
- Blog: Could Fractional Shares Benefit Your ESPP Participants
- Video: ESPP Design: Match vs. Discount
- Video: Let's Talk About Equity Rights, Equality, and ESPPs
Support the show (http://naspp.com/membership)
The latest data on how companies pay out equity awards to retirees and how retirement eligibility is determined. Plus, a discussion of the treatment of equity awards in the event of death and disability.
Episode Notes:
- Criteria for determining retirement eligibility (1:06)
- Minimum age requirements (4:31)
- Minimum service requirements (6:43)
- Treatment of equity awards upon achieving retirement eligibility (7:45)
- Prevalence of equity award payouts to retirees (9:32)
- Accelerating vs. continuing vesting upon retirement (11:43)
- Full vs. pro rata payouts to retirees (15:31)
- Treatment of equity awards in the event of death or termination due to disability (17:04)
Resources Mentioned in this Episode:
- NASPP Webinar: Top Trends from the 2021 Equity Incentives Design Survey
- NASPP Webinar: Trends in Global Equity Incentives
- Equity Expert Podcast: Trends in Equity Award Usage and Eligibility
- Equity Expert Podcast: Trends in Global Equity Incentives
- Equity Expert Podcast: Trends in Performance Awards
- 2021 Equity Incentives Design Survey, cosponsored by the NASPP and Deloitte Consulting
- Blog: Pros and Cons of Accelerating vs. Continuing Vesting Upon Retirement
Support the show (http://naspp.com/membership)
Episode Notes:
- Prevalence of performance awards at tech companies vs. other industries (2:36)
- The growth of TSR Awards (4:52)
- Types of operational metrics that companies commonly tie vesting to (8:29)
- Use of ESG metrics in long-term incentives (9:46)
- Use of multiple performance metrics (11:43)
- Treatment of performance awards in changes in control (15:38)
Resources Mentioned in this Episode:
- NASPP Webinar: Top Trends from the 2021 Equity Incentives Design Survey
- NASPP Webinar: Trends in Global Equity Incentives
- Equity Expert Podcast: Trends in Equity Award Usage and Eligibility
- Equity Expert Podcast: Trends in Global Equity Incentives
- 2021 Equity Incentives Design Survey, cosponsored by the NASPP and Deloitte Consulting
Support the show (http://naspp.com/membership)
We ask Terry Adamson of Infinite Equity what he thinks about paying out TSR awards when performance is negative, using TSR as a modifier, custom peer groups and more.
Episode Notes:
- How much more usage of TSR awards can we expect (1:50)
- Custom peer groups (4:06)
- Paying out awards for negative TSR performance (8:44)
- Using TSR as a payout modifier for other metrics (11:35)
- The benefits our measuring outperformance (13:38)
- Barbara uses a football metaphor (19:37)
- Other market-based alternatives to TSR awards (20:34)
- Barbara and Terry plan a follow-up podcast on relative Sharpe-Ratio awards (24:20)
Resources Mentioned in this Episode
- A Better Way to Calculate Volatility
- Constructing the Pentagon of Incentives
- How to Size Relative TSR Grants with a Stub Period
Support the show (http://naspp.com/membership)
Episode Notes:
- Mark's background (1:33)
- Types of equity vehicles offered globally (2:07)
- Practices on adjusting awards by location (4:05)
- Prevalence of tax-qualified plans (8:09)
- Update on the UK (13:09)
- Update on Canada (16:35)
Resources Mentioned in this Episode:
- NASPP Webinar: Top Trends from the 2021 Equity Incentives Design Survey
- NASPP Webinar: Trends in Global Equity Incentives
- Equity Expert Podcast: Trends in Equity Award Usage and Eligibility
- 2021 Equity Incentives Design Survey, cosponsored by the NASPP and Deloitte Consulting
Support the show (http://naspp.com/membership)
Host: Barbara Baksa, Executive Director, NASPP
Guest: Dana Hall, Designer Brands
Episode Notes:
- About the NASPP’s DEI Initiative
- Dana’s career path (2:12)
- Majoring in human resources (3:14)
- Dana’s role at Designer Brands (7:35)
- What Dana likes about working in compensation (9:06)
- Dana’s role on the NASPP’s DEI Task Force (11:49)
- Dana’s leadership role in Designer Brands’ African American BRG (13:55)
- Internships at Designer Brands (15:35)
- Shoe-related puns (16:47)
- Dana’s advice for growing your career in compensation (17:27)
Resources Mentioned in this Episode:
- NASPP DEI Initiative
Thank you to Bank of America for sponsoring the NASPP's DEI Initiative.
About Our Guest
Dana is a native of Columbus, Ohio and currently works as the Senior Manager of Compensation for the Corporate Offices of Designer Brands Inc. Her team manages the compensation programs for their business segments in the United States. This includes base compensation, short-term and long-term incentive plans. Dana has worked in the field of compensation for over 22 years, primarily in the retail industry.
Dana majored in human resources and graduated with a bachelor’s degree from The Ohio State University. She is a Certified Compensation Professional (CCP) and has also earned her Equity Compensation Associate (ECA) designation.
Support the show (http://naspp.com/membership)
Host: Barbara Baksa, Executive Director, NASPP
Guest: Ian Dawson, Deloitte Consulting
Episode Notes:
- Ian's Background (1:39)
- Overall trends in the types of equity vehicles public companies grant (2:34)
- Options vs. full value awards (5:18)
- Levels of employees eligible to receive equity awards (7:15)
- Grants to lower ranking employees (8:52)
- Comparison of practices at technology vs. nontechnogy companies (12:47)
- Prevalence of ESPPs (14:34)
Resources Mentioned in this Episode:
- NASPP Webcast: Top Trends from the 2021 Equity Incentives Design Survey
- 2021 Equity Incentives Design Survey, cosponsored by the NASPP and Deloitte Consulting
Support the show (http://naspp.com/membership)
Barbara discusses the SEC's new Rule 10b5-1 proposal with John Jenkins of CCRcorp.
Host: Barbara Baksa, Executive Director, NASPP
Guest: John Jenkins, Senior Editor, CCRcorp
Episode Notes:
- Background on the Rule 10b5-1 proposal (0:25)
- Required cooling-off period (2:28)
- Prohibition on overlapping plans (4:26)
- Limitation on single-trade plans (5:34)
- Good faith requirement (6:52)
- Certification requirement (8:13)
- Quarterly disclosure of adoption and termination of 10b5-1 plans by officers and directors (9:25)
- Form 10b5-1 checkbox on Forms 4 and 5 (9:34)
- Reporting gifts on Form 4 (9:51)
- Disclosure of insider trading policies (10:07)
- Disclosure of options granted to named executive officers or directors within 14 days of company filings and repurchases (10:17)
- John's additional thoughts on the proposed rules (10:47)
- Happenings at CCRcorp that NASPP members might be interested in (12:11)
- Additional resources (12:52)
Resources Mentioned in this Episode:
- NASPP blogs on Rule 10b5-1
- SEC Proposes Amendments to Rule 10b5-1
- Rule 10b5-1 & Buybacks: Practical Impacts of SEC's Proposals (TheCorporateCounsel.net webcast)
- The Latest: Your Upcoming Proxy Disclosures (CompensationStandards.com webcast)
- PracticalESG.com
Support the show (http://naspp.com/membership)
Barb and Jenn discuss whether they feel empty or full on four trending stock plan topics: the SEC's proposed changes to both Edgar and Rule 10b5-1, plus ESG and participant communications.
Host: Jennifer Namazi, Content Director, NASPP
Guest: Barbara Baksa, Executive Director, NASPP
Episode Notes:
- Barb describes the half empty, half full format (1:15)
- Are we half full or half empty on the SEC's proposed changes to Edgar? (3:12)
- Why Jenn is half empty on communication with stock plan participants (13:56)
- Where does ESG fall on the empty/full spectrum? (20:40)
- Our opinions on the SEC's proposed changes to Rule 10b5-1 (26:35)
Resources Mentioned in this Episode:
- Podcast: T-Mobile's Communications are Engaging Stock Plan Participants
- Equity Compensation Outlook Pulse Surveys
Support the show (http://naspp.com/membership)
Host: Jennifer Namazi, Content Director, NASPP
Guest: Aftab Ibrahim, CEP, CECP, Sr. Director, Stock Compensation & Exec Programs at
T-Mobile
Episode Notes:
- T-Mobile's stock plan participant demographics (1:47)
- What communication formats work best to engage employees (3:05)
- Learnings about email and how that changed the communications approach (5:14)
- Was there a particular communication that had a big impact? (6:57)
- What happens when a communication doesn't resonate as expected? (10:57)
- Aftab's recommended tools/resources (14:34)
- How to move beyond email (16:05)
Resources Mentioned in this Episode:
- T-Mobile's Benefits Hub (access their stock plan communications here)
About Our Guest:Aftab has over 15 years of experience with the administration of equity compensation, and is currently Sr. Director, Stock Compensation & Exec Programs at T-Mobile based in the Seattle area. He directs the plan design, implementation, and day-to-day operations of the equity programs with over 75,000 participants. T-Mobile currently offers broad based restricted stock units, performance restricted stock units, and an ESPP open to all employees.
He began his career in equity compensation on the Stock Team at Starbucks. Later, Aftab worked on the Stock Plan Services team at Microsoft before joining T-Mobile in 2010.
Aftab earned bachelor’s degrees in Business Administration and Economics from the University of Washington. He is a Certified Equity Professional (CEP) having earned the designation in 2007, as well as a Certified Executive Compensation (CECP) achieved in 2014. Since 2006, he has served as an Officer for the National Association of Stock Plan Professionals (NASPP) and is currently the President of the Seattle Chapter.
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Could your career use a boost? Participating in a mentor relationship—as either mentor or mentee—might be just what you need. Learn about the benefits mentorship offers to both mentor and mentee, as well as what you can do to make sure you are getting the most out of the relationship.
Host: Barbara Baksa, Executive Director, NASPP
Guest: Stacie Hoffmeister, Executive Director and Head of Wealth Management Home Office Talent and Diversity, Morgan Stanley
Episode Notes:
- Stacie's background and career path (1:38)
- Digression on advantages of majoring in English (4:27)
- Why mentorship is a valuable part of learning and development (5:13)
- Why new professionals should participate in a mentorship program (8:52)
- How mentorship can be particularly helpful for individuals who work in stock compensation (10:27)
- How mentors benefit from their participation (11:27)
- What mentees can do to ensure they get the most out of the relationship (14:13)
- What the mentor's role is (19:20)
- What pre-work can be helpful to ensure that meetings are productive (23:00)
- Stacie's advice for anyone participating in the Women Leading in Equity mentor program (29:50)
Resources Mentioned in this Episode:
- Women Leading in Equity
About Our Guest:Breakthrough innovation, world class learning experiences and cutting edge approaches to D&I define how Stacie Hoffmeister creates value for Morgan Stanley’s Wealth Management employees. Stacie specializes in driving transformation and growth for already high achieving individuals, helping them step up into their next level greatness.
Stacie brings together brand management expertise, the power of positive psychology science, and an entrepreneurial style. Her career includes story development at major motion picture studios TriStar and 20th Century Fox, followed by over a decade of global brand management at Unilever, Coty, and Louis Vuitton Moet Hennessy. Mid-career, Stacie discovered her calling as a talent development and diversity leader. She founded and ran a leadership development company for several years and pioneered programs around the world for Google and other tech giants. Stacie believes that a growth mindset and inclusion are core leadership competencies.
Stacie holds a BA in English Literature from Columbia University and an MBA from NYU, which she earned during nights and weekends while maintaining full-time employment in brand management. Stacie also has an International Coach Federation accredited positive psychology coach certification in individual and group coaching.
Stacie resides in Scarsdale, New York with her two children Ava (14) and Roman (11). She is a yogi, gardener and sailor. She is a board member of the nonprofit Rocking the Boat, which teaches sailing and environmental science to the youth of the South Bronx. Racial justice is a value around which Stacie’s life and work are organized. The mantras Keep Learning and Advance Equity are her guiding lights.
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Remote work is here to stay. Do you know where your employees are and how their movements impact compliance with various local, state and country specific requirements? What about things like benefits, internet security, and employee safety? With many factors on the table, we discuss 5 things for employers to have on their radar when it comes to remote worker movements.
Host: Jennifer Namazi, Content Director, NASPP
Guest: Marlene Zobayan, Partner, Rutlen Associates
Episode Notes:
- Myths and realities around employer responsibility to track mobile employees (1:35)
- When can an employer no longer claim ignorance about employee movements? (3:39)
- Beyond tax compliance: other considerations when remote workers are on the move (8:25)
- Double taxation, double reporting, and double withholding in mobility situations (12:27)
- Why companies should implement a remote work policy now (16:50)
- Handling compliance issues when an employer didn't know an employee was mobile (21:34)
- Prediction on state tax authority reactions to remote worker mobility (23:19)
Resources mentioned in this episode:
- Modern Mobility: Multijurisdictional Tax Compliance in the Age of COVID-19 and Remote Working (NASPP Advisor Newsletter)
- State Mobility Issues for Equity Compensation Professionals (Article)
About our Guest:
Marlene Zobayan is a partner of Rutlen Associates LLC. She has over twenty years of international tax and benefits experience, including global equity plans, mobile employee taxation, global compensation and benefits. She provides a holistic and proactive range of services to her clients, including global equity plan design, tax reviews and tax optimization, assistance with local approvals and filings, communications, and designing administrative processes. She is a regular speaker and author on global stock plan and rewards issues.
Prior to joining Rutlen Associates, Marlene was the practice leader on the West Coast for Deloitte Tax's Global Rewards group and managed their news alerts for global equity plan changes.
Marlene has a Physics degree from Oxford University; she is a member of the U.K. Association of Tax Technicians, a US Enrolled Agent and Certified Equity Professional. Having previously chaired the Advisory Board, Marlene now sits on the Curriculum Committee of the Certified Equity Professional Institute.
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Hear a chapter president's insights on leading a chapter and contributing to his local stock plan community.
Host: Jennifer Namazi, Content Director, NASPP
Guest: John Barringer, Executive Wealth Planning
About our Guest:
I’m a CERTIFIED FINANCIAL PLANNER™ with over 30 years of experience in the investment and wealth management industry. I specialize in helping high net worth executives and executives at public companies with investment management, retirement planning and risk management.
I am also a contributing editor at MyStockOptions.com, the leading provider of web-based educational content and tools for stock options, restricted stock units, performance shares, stock appreciation rights and employee stock purchase plans. The website specializes in making complex stock compensation topics clearly understandable and relatable. I have been a member of the Advisory Board since the initial launch of the site in 2000.
After graduating from University of Colorado Boulder, I started my career in financial services. I spent several successful years at Morgan Stanley as a Branch Manager, Financial Advisor and an Executive Financial Services (EFS) Director. However, I knew financial planning was where I wanted to be…and in 2015, I founded Executive Wealth Planning.
Based in Greenwood Village, Colorado, Executive Wealth Planning specializes in providing investment and retirement consulting as well as asset management services for employees and executives of public companies. Our mission is to help you maximize the value of your employee benefits package including your stock options, deferred compensation and equity compensation. We offer professional advice to help make you comfortable with your financial choices and fully understand the value of your compensation package.
Whether you’re investing to build wealth, protect your family or preserve your assets, our personalized service focuses your needs, wants and long-term goals. After we learn more about you, we’ll help you identify the personal finance strategies that can improve your lifestyle today and provide the foundation for a sound (maybe even early) retirement in the years ahead.
When I’m not in the office, I enjoy spending time outside-road cycling and downhill skiing. I’m also a founding member and former President of the National Association of Stock Plan Professionals Denver Chapter. I am a member of the Global Equity Organization (GEO), the National Center for Employee Ownership (NCEO) and the Financial Planning Association (FPA).
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Host: Jennifer Namazi, Content Director, NASPP
Guest: Barbara Baksa, Executive Director, NASPP
Data from the NASPP/Deloitte Consulting 2020 Domestic Stock Plan Administration Survey identifies trends in insider trading compliance.
Episode Notes:
Overview: How are companies approaching insider trading compliance? (2:16)
Are insiders using captive/designated brokers for their trades? (4:05)
Trends in Rule 10b5-1 plans (8:36)
Blackout periods: who is subject to them? (15:06)
Prohibited/permitted transactions during a trading blackout (19:21)
Length of trading blackout period (23:47)
SEC reporting for insiders: who has primary responsibility? (26:54)
Resources mentioned in this episode:
2020 Domestic Stock Plan Administration Survey (NASPP/Deloitte Consulting)
2020 Domestic Stock Plan Administration Survey Executive Summary (NASPP/Deloitte Consulting)
4 Trends in Trading Blackout Periods (NASPP Blog)
Top Trends: Plan Administration, ESPPs, Ownership Guidelines, Insider Trading Compliance (NASPP Webcast)
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Leveraging data from the NASPP/Deloitte Consulting 2020 Domestic Stock Plan Administration Survey, this episode highlights trends in staffing and placement of the stock administration function, telework, excess tax withholding and education formats.
Host: Jennifer Namazi, Content Director, NASPP
Guest: Barbara Baksa, Executive Director, NASPP
Episode Notes:
Where is the Stock Administration function typically housed within an organization? (3:47)
Staffing Stock Administration in house: number of dedicated personnel (5:58)
Telework trends (10:13)
Excess tax withholding: how many companies are doing it? (14:06)
Education trends and the role of the in-person presentation (19:40)
Resources mentioned in this episode:
5 Trends in Stock Administration Staffing and Practices (NASPP Blog)
Top Trends: Plan Administration, ESPPs, Ownership Guidelines, Insider Trading Compliance (NASPP Webcast)
Administrator's Corner: Multigenerational Communications (The NASPP Advisor)
Communication in the Multi-Generational Workforce (NASPP Blog)
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This episode explores some of the standard and creative choices companies have in adapting, insulating and optimizing equity awards for stock market declines.
Host: Jennifer Namazi, Content Director, NASPP
Guest: Nathan O'Connor, Managing Director, Equity Methods
Episode Notes:Trends and observations of an unprecedented 2020 (2:06)
How equity compensation has grown in relevance this year (7:48)
Key considerations companies face in restoring broken incentives (9:20)
The mechanics of restoring incentives and 3 choices available (12:53)
What is "discretion" and how is it different from modifying an award? (14:17)
Exploring different flavors and varieties of award modifications (22:22)
Thoughts on relatives performance equity and it's place in executive compensation (30:29)
Predicting the future of the equity compensation landscape (32:12)
Resources mentioned in this episode:Optimizing Equity Awards in a Down Market (NASPP Blog)
Modifications and Discretion FAQ (Equity Methods)
**About our Guest:
Nathan O'Connor** is a Managing Director at Equity Methods, a consultancy that helps hundreds of public and private companies model, value and account for equity compensation and other complex securities. As the first point of contact for prospective clients, Nathan brings over a decade of quantitative consulting experience to bear in collaborating with the Valuation, Reporting, and HR Advisory practices within Equity Methods to ensure that prospective clients’ needs are met. As a liaison between the company and the broader compensation community, he shares best practices at industry events throughout the country and through publishing technical articles. Prior to his current role, Nathan served as the national valuation practice leader at Equity Methods, where he oversaw all client delivery, operations, and R&D in support of more than 400 public and private clients, in addition to directly serving the compensation consultants and senior executives of several Fortune 50 companies.
A technician at heart, Nathan is a Certified SAS Base Programmer who has taught core finance topics in the University of Arizona’s MBA program and internal derivatives workshops at Equity Methods. He holds a B.A. in International Relations from Purdue University, an M.B.A. in Derivative Securities from the Quinlan School of Business at Loyola University Chicago, and an M.S. in Finance (PhD ABD) from the Eller College of Management at the University of Arizona. He previously served on the Board of the Las Vegas NASPP as Program Chair and the Phoenix Chapter of the NASPP as Secretary. Currently, Nathan serves as a Chapter Leader of the Arizona Chapter of Financial Executives International and an Advisory Board Member of the Certified Equity Professional Institute.
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NASPP's Jenn Namazi shares 6 tips she personally uses to get the most out of a virtual conference. Whether you are planning to attend your first event, or are a seasoned virtual veteran, these tips are bound to enhance your experience.
Host: Jennifer Namazi, Content Director, NASPP
Episode Notes:Jenn shares interesting data on the future of video and virtual conference engagement (1:17)
Scheduling your must-attend sessions (4:03)
Prioritizing attendance while juggling other demands at work and home (4:34)
Removing the distractions that threaten to divert your attention (5:34)
The importance of reflection and decompressing after a day of conference events (6:18)
Networking and socializing (7:40)
Leveraging one of the biggest virtual conference perks (9:05)
Resources mentioned in this episode:#NASPPVirtual (information about this year's Virtual NASPP Conference)
With 60+ sessions featuring over 100 speakers across stock plan domains, exciting keynotes, and plenty of interactive opportunities, NASPP Virtual is the must-attend equity event of the year. No need for FOMO (fear of missing out) over a session - a huge perk is that all sessions will be available on-demand through the end of September. You can attend the entire conference (binge watch in your pajamas if you want) or pick and choose what works best for you.
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This episode explores employee mobility situations arising from impacts of the COVID-19 pandemic.
Host: Jennifer Namazi, Content Director, NASPP
Guest: Marlene Zobayan, Partner, Rutlen Associates
Episode Notes:
What overall impacts has the COVID-19 pandemic had on mobility? (3:06)
Three different mobility situations resulting from the pandemic (4:14)
The challenges created by unforeseen mobility situations (6:50)
Are there any exemptions for employees caught in these mobility situations? (8:40)
Have any U.S. states issued guidance? (13:44)
What should companies be doing about COVID-19 related mobility situations? (15:17)
Messaging to employees about mobility impacts and considerations (23:04)
Where does compassion for an employee's situation fit? (27:04)
Resources mentioned in this episode:
New COVID-19 Related Mobility Situations (NASPP Blog)
COVID (Tele) Commuting Conundrums (NASPP Silicon Valley Chapter meeting presentation)
COVID (Tele) Commuting Conundrums (NASPP Silicon Valley Chapter meeting handout)
About our Guest:
Marlene Zobayan is a partner of Rutlen Associates LLC. She has over twenty years of international tax and benefits experience, including global equity plans, mobile employee taxation, global compensation and benefits. She provides a holistic and proactive range of services to her clients, including global equity plan design, tax reviews and tax optimization, assistance with local approvals and filings, communications, and designing administrative processes. She is a regular speaker and author on global stock plan and rewards issues.
Prior to joining Rutlen Associates, Marlene was the practice leader on the West Coast for Deloitte Tax's Global Rewards group and managed their news alerts for global equity plan changes.
Marlene has a Physics degree from Oxford University; she is a member of the U.K. Association of Tax Technicians, a US Enrolled Agent and Certified Equity Professional. Having previously chaired the Advisory Board, Marlene now sits on the Curriculum Committee of the Certified Equity Professional Institute.
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How many companies actually offer ESPPs? What trends exist based on company demographics, such as size, region and industry? This episode examines research conducted by Aon, in partnership with the NASPP and Fidelity, on the prevalence of employee stock purchase plans (ESPPs) within Russell 3000 and S&P 500 companies.
Host: Jennifer Namazi, Content Director, NASPP
Guests: Daniel Kapinos, Partner and Rachel Lopez, Consultant,
both of Aon Rewards Solutions
About our Guests
Dan Kapinos, Partner in Aon’s Rewards Solutions business, serves as the Head of Aon’s Equity Services Team, which provides expertise, service and advice on all things related to equity compensation to over 900 companies globally. Dan is a frequent speaker and writer on a variety of compensation topics and has held many industry positions including President of the NASPP Philadelphia Chapter and member of the CEP Institute’s Curriculum Committee. Currently Dan sits on the NASPP’s Executive Advisory Committee.
Rachel Lopez, is a Consultant with Aon’s Equity Services team, where she uses her background in statistical analyses to address clients’ equity needs for a wide range of equity-based compensation vehicles. Rachel currently oversees the team’s thought leadership development and has written multiple articles exploring current trends in equity compensation and addressing the nuances of stock-based compensation plan design.
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Topics companies should consider relative to their 10b5-1 population with Joshua Shek and Rich Baker from Morgan Stanley.
Morgan Stanley Disclaimers
The content of this podcast is for informational purposes only. It does not provide individually tailored investment advice. It has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Morgan Stanley Smith Barney LLC (“Morgan Stanley”) recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a Morgan Stanley Financial Advisor. The appropriateness of a particular investment or strategy will depend on an investor’s individual circumstances and objectives.
Morgan Stanley is not implying an affiliation, sponsorship, endorsement, etc. with the third party speakers or website or that any monitoring is being done by Morgan Stanley of any information contained within this web site. Morgan Stanley is not responsible for the information contained on this third party web site. Nor do we guarantee the accuracy and completeness of its contents. The terms, conditions, and privacy policy of any third party web site may be different from those applicable to your use of any Morgan Stanley web site. The opinions expressed by the speakers are solely their own and do not necessarily reflect those of Morgan Stanley. Securities, investments, strategies or products mentioned or discussed on the third party website or online publication are neither an endorsement nor solicitation by Morgan Stanley. The information and data provided by the third party web site and speakers are as of the date of the podcast and is subject to change without notice. Past performance is not a guarantee of future results.
Morgan Stanley, its affiliates and Morgan Stanley Financial Advisors or Private Wealth Advisors do not provide tax or legal advice. Clients should consult their tax advisor for matters involving taxation and tax planning and their attorney for legal matters.
CRC 1882966 – 09/2017
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Sara Shoaf and Crystal Dykstra from Charles Schwab discuss bridging the equity comp, investing and pay gap that women face and how to ensure that your female participants understand how to use their equity awards to help reach their personal financial goals.
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Aaron Shapiro of Carver Edison discusses ESPPs historically, current participation rates and how to increase employee participation.
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Keith Bishop, Partner with Allen Matkins in Orange County, California, discusses common issues and mistakes companies make with shareholder votes, why it is so important for companies to describe the stockholder voting requirement accurately and some of the most common voting standards.
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Fred Whittlesey of Compensation Venture Group discusses equity compensation outliers, delving into the design, accounting and legal implications of these grants and plans that fall outside the "norm" and get buried in complex narratives in SEC filings.
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Bruce Brumberg, Editor-in-Chief and co-founder of myStockOptions.com discusses financial planning strategies for employees, helping employees to understand their equity awards and what "financial wellness" means.
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Dr. Marshall Vance, PhD, discusses getting the most from your equity plans, how companies can improve plan design and communications to maximize the effectiveness of their plans. Dr. Vance discusses academic research he's conducted relative to equity plans, and what the research reveals.
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Kevin Wells and Stephen Popowski, from Aon, discuss the CEO Pay Ratio after year one of the disclosure, looking towards year two, challenges companies are facing, thoughts about where the disclosure may evolve in the future, and opinions relative to the (lack of) media attention given to the disclosure.
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Mike Melbinger, Partner with Winston and Strawn, discusses the general purpose of IRS Notice 2018-68, amendments to the definition of a publicly held corporation, details relative to who might be "covered employees" under the new regulations and guidance pertaining to the "grandfathering" rule under 162(m).
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Josh Schaffer, Director at Equity Methods, discusses some of the drivers of behavioral economics and finance, and the impact they have on designing incentive programs.
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A discussion of technology currently being developed and a look at what the future might bring.
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Discussion re: data gathered in a recent study by Bersin, Deloitte Consulting
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