Equity Expert: A Podcast from the NASPP

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

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
  
  

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

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.

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.

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.