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
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