SOURCE: OptionEase, Inc.

OptionEase, Inc.

December 06, 2010 07:00 ET

OptionEase Delivers First End-to-End Employee Stock Purchase Program (ESPP) Solution

Module Enables Easy IRC 6039 and Form 3922 Compliance, Encourages Employee Participation

MISSION VIEJO, CA--(Marketwire - December 6, 2010) -   OptionEase®, the leader in on-demand software-as-a-service (SaaS) applications for fair-market-value accounting and compliance, today announced the availability of an end-to-end solution covering administration, valuation and compliance for employee stock purchase programs (ESPP). The OptionEase ESPP solution is the first application to address all of the compliance issues related to FAS 123(R) (ASC Topic 718) and IRC 6039.

Historically, companies have been challenged to accurately value and track required information pertaining to qualified section 423 plans. The OptionEase ESPP module not only handles complex administrative issues such as online participant enrollment, withholding changes and automatic resets, but also the accounting required for variable share plans, modifications and true-ups for complete FAS 123(R) compliance.

IRC Section 6039, which comes into play this January 2011, requires every plan administrator to report all transfers to the IRS via paper Form 3922 or electronic media, as well as provide a means for participants to opt-in to receive statements electronically. The OptionEase ESPP solution simplifies this intricate process by capturing all relevant compliance data and providing an audit of acceptance and notifications. Additionally, the ESPP module is part of the OptionEase platform so all transactions flow to other application sections such as capitalization tables, grants and drill-through disclosure reports.

"OptionEase is dedicated to being the technology leader for equity compliance, and the addition of this ESPP module is a logical next step. We worked extensively with strategic clients, their auditors and industry experts to understand the gaps that existed with other solutions and how OptionEase could meet their requirements," said Kim Kovacs, OptionEase CEO. "Accounting for stock purchase plans can be complex. However, our proprietary platform enables ESPP administrators to reduce compliance risk by remaining in a single system from enrollment through reporting."

The OptionEase ESPP module is available to subscribers of the OptionEase system and can be fully integrated with other applications such as brokerage, payroll, HRIS and other enterprise solutions.

About OptionEase, Inc.
OptionEase (www.optionease.com) is leading the evolution of SaaS-delivered regulatory applications in the highly complex governance, risk and compliance (GRC) marketplace. The company's first product was designed specifically for audit compliance under FAS 123(R) (ASC Topic 718) and now encompasses a full suite of end-to-end equity management tools. More than 500 private VC-funded and large multi-national public corporations rely on OptionEase's solutions and service to comply with financial and regulatory reporting requirements under FAS, SEC and IASB. With a 96 percent customer retention rate, OptionEase is headquartered in Mission Viejo, Calif. and funded by venture capital and private equity.

This press release may include forward-looking statements, including statements regarding the company's product development plans, which are subject to change. The actual results may differ materially from those described in any forward-looking statement.

Contact Information

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    Courtney Hurst
    Metis Communications
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