EASi Updates Stock Plan Administration Software

Companies that rely on EASi’s software now have the ability to flag grants with a “Continue to Vest after Termination” provision, according to a press release. The plan setting for the default treatment of unvested shares for each termination reason has been expanded to include continue to vest. Termination provisions are maintained and can be overwritten on each grant.

EASi also introduced retirement eligibility accounting support for stock option and stock appreciation rights (SAR) grants, the release said. If unvested option or SAR shares will not be forfeited upon retirement, expense acceleration for the grant occurs when the retirement eligibility date is reached even if the participant has not yet retired.

The system also has a notification to alert appropriate individuals as a grant nears the retirement eligibility date. Notifications can be sent out in 15, 30, and 60 day increments prior to the retirement eligibility date on the grant record. Users also receive reports providing information on individuals and grants impacted by reaching retirement eligibility.

In addition, EASi introduced its newest loader which makes it easier to import historical employee stock purchase plan (ESPP) purchase information to ensure the system has a record of prior purchases. Dispositions may be applied to specific lots of previously purchased shares.

“This allows for better tracking of disqualifying dispositions that require W2 reporting of the ordinary income and have an associated compensation expense tax deduction for the company. The new functionality also makes it easier to maintain and report on qualifying dispositions, full participation history and current ‘holdings’ for ESPP participants,” said Denise Vitale, vice president of product development, in the release.

EASi said it also made 60 minor enhancements and upgrades in response to customer requests.