Plan Management Corp.Plan Management Corp., the developer of OptionTrax stock option administration software, has brought out new features and functionality to combat stock option backdating Predating a document or instrument prior to the date it was actually drawn. The negotiability of an instrument is not affected by the fact that it is backdated. and to provide auditable tools for public company finance departments, boards of directors and independent public accountants. "Even today, we estimate that 50 percent of public companies are still using spreadsheet-based procedures to administer part or all of their equity incentive plans," said Jonathan Miller This article is about the British physician, theatre and opera director, and television presenter; for other people named Jonathan Miller, see Jonathan Miller (disambiguation). Sir Jonathan Wolfe Miller , president of Ardmore Ardmore, city (1990 pop. 23,079), seat of Carter co., S Okla.; inc. 1898. It is the commercial center of an oil and farm area. Its industries include oil refining, tourism, and the manufacture of electronic equipment, plastics, fabricated metal products, and feeds. , Pa.-based Plan Management, in an announcement. "This creates an environment where data entry is difficult to audit and systems are open to manipulation." New features in OptionTrax include: * Plan analysis tools that highlight and alert users and auditors AUDITORS, practice. Persons lawfully appointed to examine and digest accounts referred to them, take down the evidence in writing, which may be lawfully offered in relation to such accounts, and prepare materials on which a decree or judgment may be made; and to report the whole, together to possible backdating and suspicious option grant activity; * User tools that enable easy audit and verification of stock option grant dates and grant prices; * A secure online portal where the board of directors' compensation committee members can oversee the formal stock option program and review stock option grants; * An audit report that informs the board of directors and independent public accountants in the event that stock option grant dates are changed after the grant date, differ from the approved grant date or when grants are issued to Section 16 insiders; * Accountability tools that require certification that the stock option grant date and amount coincide with applicable board resolutions; and * Tracking tools such as an online library where board resolutions and stock option plan documents can be securely archived. In addition to these new corporate governance Corporate Governance The relationship between all the stakeholders in a company. This includes the shareholders, directors, and management of a company, as defined by the corporate charter, bylaws, formal policy, and rule of law. features, OptionTrax provides what it calls a "user-friendly user-friendly - Programmer-hostile. Generally used by hackers in a critical tone, to describe systems that hold the user's hand so obsessively that they make it painful for the more experienced and knowledgeable to get any work done. Web-based equity plan administration package" that enables corporate finance or HR departments to manage options, warrants, restricted stock and restricted stock units Restricted stock units Similar to restricted stock. However, the unit represents a promise that employees will receive stock in the future. The units do not pay dividends until the stock is vested. . Web: www.stocktrans.com |
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