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GEOnews - 15 February 2013
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Registration for GEO's14th Annual International Conference 
Make sure you mark your calendars and plan to join GEO in Munich, 12-14 June, for our premier conference event of the year. GEO's International Conference will feature keynotes from the world of academia, regulators and top professionals as well as more than 50 sessions presented by leaders in their fields and companies. If your company offers equity on a global basis, this is an event that you cannot afford to miss!
Test Drive a GEO Conference Session for Free!
GEO's conference sessions and speakers are known for inspiring and engaging attendees and we want you to fully appreciate this. To this end, GEO is pleased to provide you with a recording of a past GEO conference session, "The Good, the Bad, and the Equity: A Lively Discussion on the Sensibility of Stock" lead by industry experts, Boyd Brown of Intel, Emily Cervino of Fidelity Investments and Clinton Shoap of Cargill at NO cost. Please take a moment to listen to this complimentary GEO conference session to see for yourself how valuable GEO conferences are.
Now Accepting GEO Award Submissions 
GEO is currently accepting submissions for GEO Awards. Past winners include a combination of large and small companies from around the world in various industries. If you'd like to join GEO's elite group of award winners, please visit the GEO website to learn more about how to submit an award application.The deadline to submit an award application is Friday, 12 April 2013.
Now Accepting NECF Speaking Proposals 
GEO is currently accepting speaking proposals for its 3rd Annual National Equity Compensation Forum (NECF). We encourage anyone interested in being a part of this year's agenda to submit a proposal before the submission deadline on Friday, 22 March 2013. Please visit the GEO website for more information on how to submit a proposal.
GEO Out & About
Please join GEO's, Robyn Shutak, at the upcoming Silicon Valley GEO chapter meeting (see below for event details) where she will co-present a session, "What's Happening: New (and Resurgent) Equity Themes in 2013," with Emily Cervino of Fidelity Investments. During the meeting Emily and Robyn will reveal the ten most likely things to hit your desks this year!
Mark your calendars--GEO will be at the 9th Annual CEP Symposium in Santa Clara, California on Tuesday, 27 March 2013. Please take a moment to drop by the GEO booth located in the exhibitor area to say hello to your friends at GEO.
For more information about the CEP Symposium, please visit the CEPI website. GEO looks forward to seeing you at the event!
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CONFERENCES
12-14 June 2013
14th Annual International Conference -
Munich, Germany
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CHAPTER MEETINGS
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28 February 2013
Silicon Valley
Sunnyvale, California
MORE INFORMATION
05 March 2013
Boston Chapter
Boston, Massachusetts
MORE INFORMATION
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18 April 2013
N. California Forum
San Carlos, California
REGISTRATION OPEN
18 April 2013
Toronto Chapter
Toronto, Canada
SAVE THE DATE
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 Dr. Dennis Weinhold, PhD 
Officer, GEO DACH Chapter
Manager
Roche Diagnostics
Dennis Weinhold has an in-depth background in equity compensation from industry experience and also as a tax consultant. He worked as a Senior Tax Consultant for KPMG in Berlin (Germany) and NYC for about six years before he joined Roche in Basel (Switzerland) in 2006. Until 2012 he managed the Roche Group Global Long Term Incentive plans, the Senior Executive Long Term Plans and the Employee Stock Purchase Program (ESPP) from design through to delivery in more than 70 countries for approximately 6,700 plan participants. Dennis has a PhD degree in International Management and International Taxation. Currently he is working for Roche Diagnostics in Germany on several compensation projects. His expertise lead him to join the GEO DACH leadership team in 2012. Furthermore he is also highly engaged as a private lecturer focused on international HR management and equity compensation.
About Roche
Roche is a research-focused healthcare company, which was founded on October 1, 1896, employs more than 80,000 people worldwide and sells its products in more than 150 countries.
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Stock Option Benefit Sourcing and Article XV(2)(b) of The Canada-U.S. Income Tax Convention
Source: Deloitte. This Global Rewards Update discusses two technical interpretations issued by the Canada Revenue Agency. The first interpretation adopts the OECD's default stock option sourcing position of grant to vest for domestic purposes. The second interpretation clarifies the exemption in Article XV (2)(b) of the Canada U.S. Income Tax Convention in the context of stock option compensation. The CRA's analysis can however be extended to Canada's other treaties, and thus its importance is broader than the U.S. Context.
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Finnair Board of Directors Plans to Launch Employee Share Savings Plan and has Approved New Long-Term Share-Based Incentive Program for Management
Source: Globe News Wire Remuneration systems play an important role in encouraging employees to work for the long-term benefit of the company and its shareholders" says Harri Sailas, Chairman of Finnair Board of Directors. "The planned employee share savings plan for Finnair employees adds to our current incentive programs, and aims at supporting their long-term interest and involvement in the development of Finnair's shareholder value. The long-term incentive program for the management is fully in line with the statement by the Cabinet Committee on Economic Policy regarding the remuneration of executive management and key individuals in state-owned companies in Finland, and it replaces the long-term incentive program that expired at the end of last year."
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2012 Share Scheme Reporting Deadline Reminder
Source: KMPG KPMG in Ireland reminds readers that 31 March 2013 is the mandatory due date for the filing of Returns Of Information for employee share participation schemes in respect of 2012. Failure to comply with this mandatory filing obligation will result in a penalty and, in the cases of Revenue-approved schemes (such as Approved Profit Sharing Schemes, Employee Share Ownership Trusts and "Save As You Earn" schemes) Revenue approval can be withdrawn.
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New Employee Tax Reporting Obligations for Assets and Rights Held Outside of Spain
Source: Baker & McKenzie Effective as of January 1, 2013, a new tax reporting obligation has been introduced regarding assets or rights held by Spanish individuals outside Spain. As further described in the attached alert from our Madrid office, this new tax reporting obligation could apply to employees of Spanish subsidiaries participating in equity incentive plans of non-Spanish parent companies to the extent they hold shares or cash in brokerage accounts outside Spain and the value of such assets or rights exceeds €50,000 per type of asset. For assets and rights exceeding this threshold during calendar year 2012, the report must be filed with the Spanish Tax Authorities by April 30, 2013, and there are significant penalties if the individual fails to report.
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Update on Taxation of Employer Stock: Authorities' First Clarifications
Source: Deloitte In 2010, several legislative amendments to the Russian Tax Code were adopted, including significant changes and additions regarding the rules governing employee stock plans. A literal reading of the amended legislation suggested that stock options received pursuant to an employee stock plan could be treated as a nontraded "Financial Instrument of a Term Transaction" (FITT) for tax purposes. As such, the employee stock options themselves would be taxable at the date of grant, with the taxable amount assessed based on a valuation formula. In addition, the shares underlying the stock option would still remain subject to tax at exercise on the material benefit realized from purchase of the underlying shares at discount.
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Tax Relief Given on Bonus Clawback
Source: Lexology Clawback provisions have become a buzz word for bonus and share plans over recent years, particularly for quoted companies. However, the ability of employees to reclaim the income tax and National Insurance contributions ("NICs") they have paid on amounts which are subsequently clawed back has been difficult, which has meant most employers only provide for the net amount to be recoverable. Due to a recent Tax Tribunal decision, however, employers may now be able to recover the gross amount from their employees.
Grant Thornton's Advice on New Share Ownership
Source: Wiltshire Business Certain new Government measures aimed at boosting employee share ownership will be welcomed by most businesses in Swindon - although one initiative will mean some people having to sacrifice key employment rights in order to benefit, according to experts at Grant Thornton. MORE A Recap on Our Seasonal Tax Updates: Juggling with Soft Balls and Sharp Knives Source: Squire Sanders It is not easy to recall a period of so much change in the world of remuneration in the UK. Some of the changes represent opportunities to improve remuneration structures for employees, such as the impending changes to UK tax advantaged share plans. These are soft balls that public and private companies alike can choose to juggle, with no real danger to anyone if they decide to let one drop. MORE |
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Preparing 2013 Proxy Statements and Periodic Reports
Source: Lexology As you gear up to prepare your 2013 proxy statement and periodic reports, it is essential to keep in mind some recent changes and developments that may affect your company's disclosure in these documents. For 2013, three new disclosure requirements exist that companies must comply with:
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Dell Employees Grumble about Buyout as Stock Options are Drowned
Source: ARS Technica While Dell CEO Michael Dell and many at the top of the Dell executive ladder stand to make out well in a move to take the company private, some rank-and-file employees and mid-level executives are grumbling about how the deal affects them. That's because Dell, which has used stock options and restricted stock heavily as an incentive for employees in the past, is simply cancelling many of the stock options it has awarded to employees if the go-private deal is completed.
Tax Return Reporting for Company Stock Sales: What's New This Tax Season
Source: myStockOptions.com Following last year's major changes in tax reporting for stock sales, a few noteworthy changes in the related tax forms were made for 2012 tax returns to be filed in 2013. While not nearly as sweeping as last year's shifts, the alterations are nonetheless important for reporting your stock sales of 2012 on the tax return you file this year.
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Global Equity Compensation Newsletter, February 2013 - Recent Legislative Updates
Source: PricewaterhouseCoopers
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