Products December 10, 2012

Fidelity Introduces Global Stock Plan Solution

Fidelity launched a plan sponsor website, Global Solutions, which will assist companies in managing employee stock plans in multiple countries.
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Global Solutions consolidates all of Fidelity’s global stock plan services into one site. Plan sponsors can find information about managing global stock plan requirements (e.g., mandatory cash sweeps); completing plan administration and reporting (e.g. long-share reporting); tax and regulatory support; participant support (e.g., making transaction proceeds available in 130 currencies); and multilingual support (e.g., participant website in 11 languages, including the newly added Malay, Thai and Vietnamese).  

Earlier this year, a Fidelity survey found the majority of company stock plan assets (57%) are being earmarked for eventual investment or retirement savings after participants sell them. (See “Stock Plan Participants Earmarking Assets for Retirement.”)

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On the Global Solutions site, employers have access to new support services, including: 

  • Restricted stock sell-to-cover—provides flexibility for tax withholding, allowing a participant-level sale of shares to cover tax withholding for restricted stock and performance awards;
  • Enhanced tax lot detail — helps participants better understand the value of their holdings by including the source of shares and grants; 
  • Global tax guide — provides plan sponsors an explanation of the taxation of equity awards in more than 30 countries, including income sourcing and residency rules for employees who move between tax jurisdictions; and 
  • Enhanced mobility tracking — provides plan sponsors with an updatable location history and the flexibility to report on nine mobility tracking fields. 

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