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GEOnews - 26 April 2013
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Only a Few Days Left to Save on Registration for GEO's 14th Annual International Conference
There are only a few days left to save on registration for GEO's 14th Annual International Conference in Munich 12-14 June. The Conference will feature keynotes from the world of academia, regulators and top professionals as well as 54 sessions presented by leaders in their fields and companies. If your company offers equity on a global basis, this is the event for you! Be sure to register by Tuesday, 30 April before Conference rates increase.
Don't Miss the Opportunity to Participate in GEO's Global Equity Insights Survey
We've given you more time to complete the first ever GEO Global Equity Insights Survey--a global survey on current market practices of equity-based compensation, which will examine prevalent plan designs across the world's most important economic regions. The survey takes approximately 15 minutes to complete, any company with an equity-based compensation plan in place can participate in it, and all survey participants will receive the full survey results, but don't delay--you only have until Tuesday, 30 April to complete it.
Announcing the New GEO Blog
Earlier this week we launched a new blog! Through our new blog we will bring a distinctive perspective from bloggers around the world on topics of interest to all GEO members including information on issues being faced by companies as they use equity compensation as a key component of their pay mix as well as the latest global happenings in equity compensation. We will plan to post substantive and interesting content here once a week. Make sure you tell all of your friends about the new GEO blog as we have loads of content to share that will inspire and educate anyone wanting to know more about global equity compensation. Use the RSS feed on the blog page to subscribe to new posts.
Tune in to GEO's Next Webcast on Important Changes for Share Scheme Programs in the UK
Join GEO and experts from Pinsent Masons for our webcast "New Beginnings for Share Scheme Programs in the UK" on Thursday, 2 May. Don't miss this unique opportunity to learn from experts in the UK about important changes for share scheme programs in the UK and much more!. To register, please visit the GEO website.
 Experience a Different Kind of Conference
GEO's 3rd Annual National Equity Compensation Forum is known for bringing together strategic-minded professionals who are interested in learning and networking in an intimate, comfortable venue. With an impressive keynote lineup, thought leaders and industry experts in attendance and a charming location, attendees are sure to experience the energy, the synergy and the difference that is NECF. Early registration rates are available now through 31 May. Make your plans now to join us and experience everything that NECF has to offer--all at an amazing price!
Attend a GEO Conference for Free
Have you checked out the new Baker & McKenzie Global Equity Matrix app?. Download it now for free on your iPhone, iPad or Android smartphone--just search for "Global Equity Matrix"--and get a chance to win a free conference pass of your choice to either GEO's 14th Annual International Conference in Munich, Germany 12-14 June or GEO's National Equity Compensation Forum (NECF) in Rancho Palos Verdes, CA 23-25 October, a value in excess of $1,000*. Simply download the app, find the special code embedded in the app and enter it here. Contest ends 24 May 2013 and is open to service providers and issuer firms.
*at regular rates
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CONFERENCES
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12-14 June 2013
14th Annual International Conference
Munich, Germany
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WEBCASTS
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CHAPTER MEETINGS
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The Proceeds Odyssey-
Challenges of Repatriation
of Participant ProceedsREGISTRATION OPEN19 June 2013 Current Issues Around Operating Incentive Plans in AustraliaSAVE THE DATE27 June 2013
Turning up the Heat on Data Privacy Rules and Penalties
SAVE THE DATE
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07 May 2013
Boston Chapter
Boston, Massachusetts
REGISTRATION OPEN
16 May 2013
New York Chapter
New York, New York
REGISTRATION OPEN
21 May 2013
Nordic Chapter
SAVE THE DATE
22 May 2013
US Midwest
Chicago, Illinois
REGISTRATION OPEN
23 May 2013
Netherlands Chapter
Amsterdam, Netherlands
REGISTRATION OPEN
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- 29 April-1 May - World at Work Total Rewards Conference, Hear our own Danyle Anderson speak on "Insights from the Inside: Private vs. Public Global Equity Compensation." Be sure to also visit the GEO booth, number 225, in the exhibit hall.
- 5-8 May - Solium Synergy, Hear our own Robyn Shutak speak at the session, "Hoedown Throwdown - Financial Reporting and Legal Challenge."
- 15-18 May - E*TRADE Directions 2013, Attend the sessions "So ESPPs Aren't Dead After All? A Design and Accounting Primer" and "Life Events & Equity Compensation" and hear from our own Robyn Shutak.
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 Steven Dinham 
Mobility & Benefits Tax Manager, EMEA
Intel Corporation, UK
Steven Dinham heads the Mobility & Benefits Tax team in the EMEA region for Intel Corporation, based in the UK at it's regional Sales & Marketing/Finance & Administration headquarters. Intel designs and builds the essential technologies that serve as the foundation for the world's computing devices, headquartered in Santa Clara, California, with 2012 revenues of $53B, 105,000 employees, with operations across 60 countries. He is responsible for complying with income tax and social security laws and regulations related to employee compensation & benefits, including tax planning and plan design. He is also responsible for tax compliance and maximizing tax cost reductions for Intel's internationally mobile population including policy design. Steven has led several global stock tax review projects including the implementation of RSU's at Intel for the first time, and a global employee stock option exchange program. Steven is a Chartered UK tax advisor having trained and worked with PricewaterhouseCoopers in the UK for 6 years in the expat tax division, before joining Intel in October 2005.
About Intel Corporation Inc
Intel is the world's largest semiconductor chip maker, based on revenue. Intel develops advanced integrated digital technology, primarily integrated circuits, for industries such as computing and communications. Its mission this decade is to create and extend computing technology to connect and enrich the lives of every person on earth.
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Draft Legislation Removes Capital Gains Tax Discount for Foreign and Temporary Residents
Source: PWC Under the existing legislation, an individual may reduce the amount of taxable capital gains by a 50% discount prior to being included in their assessable income if the asset has been held for more than 12 months. On March 8, 2013, an Exposure Draft of legislation for public consultation was released by the Assistant Treasurer, proposing to remove the 50% capital gain tax (CGT) discount concession for foreign and temporary residents who dispose of assets after May 8, 2012.
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The High Council of Finance Disagrees with Minister of Finance's Suggestion to Change Stock Option Tax Regime
Source: Deloitte. When the High Council of Finance's (HCF) Taxation and Para-taxation Division was established, the former Minister of Finance presented a list of propositions to simplify the tax legislation established by the tax administration. The current Minister of Finance is continuing this administrative simplification project.
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Provincial Income Allocation: Salaries and Wages to Include all Taxable Benefits
Source: Cheryl Gibson In the Provincial Income Allocation Newsletter No. 4 (March 2013), the Canada Revenue Agency notes that the Allocation Review Committee ("ARC") has changed its position on amounts previously excluded in calculating "salary and wages paid in the year" for provincial income allocation purposes:
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Update on Tax Treatment Applicable to 'Qualified' Stock Options and Free Shares Granted from September 28, 2012
Source: PWC As detailed in our February update, the French Parliament passed a number of measures which affect the tax treatment of 'qualified' stock options and free shares. For qualified stock options and free shares granted before September 28, 2012, the tax and social security treatment remains unchanged, however, a number of changes apply to qualified stock option and free share grants after September 28, 2012.
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Credit Suisse Faces Opposition to Share Plan for Bonuses
Source: Reuters Credit Suisse could face shareholder opposition at its annual meeting next week over a plan to issue new shares to pay staff bonuses following a recommendation to reject it from a shareholder advisory group.
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Pros and Cons of Employee Share Schemes
Source: Investors Chronicle Share schemes are incentivised workplace savings schemes open to employees of publicly-listed companies. The most common type is Save as You Earn (SAYE), which lets you deposit up to £250 a month into an account for an agreed period, at the end of which you can buy discounted shares in the company you work for.
Impact of 2013 Budget for Employers and Employees
Source: PWC Changes have been announced to the proposed 'employee shareholder' relief, under which employees may choose to give up certain employment rights in return for free shares, to make the regime more attractive from an income tax and NIC (National Insurance Contributions) perspective.
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Buy-Back Reform to Encourage Employee Ownership
Source: WSB The government is simplifying the buy-back of employee-owned shares. Graeme Nuttall told Owain Thomas what this means for employee ownership. The government has published proposals to ease the burden on firms wishing to conduct share buy-backs from employees, as recommended by the Nuttall Review.
Simplification of Approved Share Schemes
Source: Mayer Brown In March 2012, the Office of Tax Simplification made various recommendations to the Government in relation to the simplification of approved (tax-advantaged) employee share schemes. HMRC conducted a consultation process on its response to these recommendations over the summer of 2012, and has also consulted on draft legislation on the implementation of some of the recommendations. The Finance Bill 2013, published on 28 March, contains draft legislation, in what is likely to be close to final form, for the changes to be implemented by legislation this year.
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Employee Stock Purchase Plan is a No-brainer
Source: SFGate When it comes to investing, an employee stock purchase plan is a no-brainer. Yet only about 30 percent of employees whose company offers one participates in it, according to the National Association of Stock Plan Professionals.
Nonqualified Deferred Compensation Incentives for Bank Executives
Source: Porter Wright In this post, we share a few thoughts about recent developments and trends regarding nonqualified deferred compensation incentives for key bank employees. Banks are seeking ways to attract and retain talent, while ensuring that compensation arrangements are aligned with newer statutory guidance, such as the Dodd-Frank Act and Section 409A of the Internal Revenue Code (the "Code").
Workers Share their Salary Secrets
Source: WSJ At Brian Bader's orientation for a tech-support job with Apple Inc. AAPL +0.72% three years ago, he says, human-resources managers ran down the list of guidelines workers were expected to follow. Don't use explicit language on calls with customers. Treat other employees with respect. And, he says, they told the assembled recruits, don't discuss your pay with co-workers.
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Employee Stock Purchase Plans are Making a Comeback
Source: Forbes Does your employer offer an ESPP? If so you should be on the lookout for changes that could make it a better deal as a place to stash savings. As the economy has recovered and the labor market has become more competitive, companies are enhancing their employee stock purchase plans in order to retain valued employees, attract new talent and improve morale, according to Fidelity Investments, which provides stock plan administration services to 250 employers, representing $125 billion in grant value.
IRC Section 409A Applies to Discounted Stock Options, Court Affirms
Source: BV Law In terms of taxpayer liability under Section 409A of the Internal Revenue Code, does it really matter whether a stock option is discounted? This issue was at the center of a recent pretrial ruling from the U.S. Court of Federal Claims that has sparked interest from LinkedIn's BV Professionals Group (registration required). Under the statute and accompanying regulation (Notice 2005-1), non-statutory stock options may qualify as deferred compensation and, as such, must be included in gross income.
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"Executive Compensation and Benefits Report: Proposed Regulations Highlight the Complexity of the $500,000 Deduction Limit for Compensation Paid by Health Insurance Providers"
Source: Skadden On April 1, 2013, the Internal Revenue Service issued proposed regulations providing guidance on the $500,000 deduction limit for compensation paid by certain health insurance companies to their employees. Because of the complexity of these rules, we recommend contacting counsel for advice on compliance with the rules if your company potentially qualifies as a covered health insurance provider.
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