TRAVELING WITH EQUITY - NY NASPP Chapter Meeting - 12/11/2009
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Equity Compensation issues, concerns, solutions associated with Global Mobility, as well as State to State Mobility.
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TRAVELING WITH EQUITY - NY NASPP Chapter Meeting - 12/11/2009
- 1. Traveling with Equity Geoffrey Hammel, PricewaterhouseCoopers Eileen Lacamera, Pfizer Inc. Craig Long, Bank of America Merrill Lynch
- 4. Does your company track the movements of expatriates/cross-border employees from the time of grant of an award through settlement date?
- 5. If your company tracks the movements of expatriates/cross-border employees from the time of grant of an award through settlement date, how do you do so?
- 6. If your company does not track the movements of expatriates/cross border employees, why not?
- 7. Does your company source equity income in relation to awards provided to expatriates or cross-border employees?
- 8. Does your company consider trailing liabilities once an expatriate/cross-border employees leaves a particular country?
- 20. Slide NASPP Conference 2007 Global Equity Incentives Survey Results
- 21. Slide NASPP Conference 2007 Global Equity Incentives Survey Results
- 27. Questions? All charts and graphics on pages 4 – 21 are reproduced from the 2009 PricewaterhouseCoopers LLP Global Equity Incentive Survey. This presentation and underlying documents should not be relied upon as constituting tax advice to attendees and the materials were not intended or written to be used, and they cannot be used, for the purpose of avoiding U.S. federal state or local tax penalties. © 2009 PricewaterhouseCoopers LLP. All rights reserved. "PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP (a Delaware limited liability partnership) or, as the context requires, other member firms of PricewaterhouseCoopers International Ltd., each of which is a separate and independent legal entity. *connectedthinking is a trademark of PricewaterhouseCoopers LLP.
Notes de l'éditeur
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- Date Here each company can identify the number of employees falling in each category and please be prepared to discuss how you track employees
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- Date Sun calls frequent travelers the business travelers. Cisco went live with a new administrator system in November 2008, HR datafeed identifies transfers, soon they will also track historical movement of employees (once IT is done helping with load from HR) SUN – has a department tracking assignees, and 1/3 party advisor tracks the mobile employees, for international transferee, they look at the user field of grant country and compare to country of employment. This is easier for RSUs than stock options (but 95% of all options are underwater) START TRACKING PROCESS EARLY Cisco - tracks location at grant, at vest and at exercise, so Int’l Assignees information is fed to vendor who determines what to withhold. Sun location at grant, vest & option exercise. - Vesting/option exercise information forwarded to vendor for income sourcing and tax withholding calculations - Tax Withholding – reported and processed by Local Country Payroll based on information provided Julie to discuss process at Amgen
- Date Please each of you add a few bullets to describe the players in your plan administration – broker, process of vesting or exercise transaction, communication of gains to payroll, tax withholding methodology that you have decided to use How quickly you determine tax liability, whether you estimate first to determine each employee’s tax withholding rate upon vesting, etc… RSUs – 5 days pull data, sent to vendor, Sun – RSUs: UK, Scotland: net share withholding Stock options – when broker notifies that IT has exercised and gather all information – process daily feed. A few days later, get the backup data for mobile employees, data is then fed to broker for withholding purposes (can be x$, or tax percentage is provided for each country). Tax is collected by payroll. OR on hold – do a manual exercise, can’t exercise on line. The manual exercise is reported to Sun who gathers all data and send to their vendor to source the income Cisco – Options: If same day sale, tax w/h from net proceeds, otherwise, employee must pay extra to exercise in cash - RSUs: net share issuance in all countries using actual rate for each employee (reaching out 7 days prior vesting to estimate tax rate with added gain)
- Date Here I can ask each of you how you are operating the tax withholding
- Date Here I can ask each of you how you are operating the tax withholding
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