Equity Administrations Solutions Inc. (EASi) Announces Industry's First Solution for Stock Option Backdating
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Equity Administrations Solutions Inc. (EASi) Announces Industry's First Solution for Stock Option Backdating
PLEASANTON, Calif., Oct. 19 /-- Equity Administration Solutions, Inc. (EASi), today announced the industry's first backdating solution. As part of EASi's equity administration product, EMS(TM), this new on-demand functionality provides auditable detail on the critical timing of issuing options. The solution provides full visibility into any back dating irregularities and supports the growing concern over the spring loading of stock options -- an often used practice of issuing options immediately before a positive news event.
"Backdating has become a critical issue for the effective management of stock options," commented Vito Palmieri, CEO of EASi. "Our solution provides fully auditable reporting on the timing of stock option issuance relative to the underlying movement in a company's stock. This solution provides a clear view to the CEO, Board of Directors, and outside auditors as to the company's option issuing practices."
"This is what the market needs right now to solve the growing list of reported and yet to be reported back dating issues," said Jett Winter, President & CEO of Winter Consulting Group, a Financial Services Strategy Consultancy. "EASi cannot save the companies that have already engaged in back dating, but they can show with great accuracy when company engages in normal and customary stock option issuance."
EASi's backdating solution is available immediately thru its on-demand web delivery architecture. There is no charge to existing customers for this upgrade while new customers will need to purchase the base EMS solution.
"The EMS(TM) software already records and tracks all entries at the journal level and any subsequent changes are recorded as individual trackable entries," commented Mark Ebersole, EASi's CTO. "This means that EMS(TM) is historically accurate and fully auditable. This new back dating solution gathers detailed time stamped transaction information and relates it to the company's stock price over time."
Palmieri concluded, "EASi is dedicated to providing the most up-to-date, and comprehensive equity management software in the marketplace. This means continuously adding features, reports and functions that address the latest SEC and NASBI regulations and standards for administering corporate stock options."
Demonstrations of the EMS(TM) and the new Backdating Report are available by appointment. Appointments can be arranged by phone or online, on the EASi website at: www.easiadmin.com .
About EASi (Equity Administration Solutions, Inc.): Founded in 2002, EASi has focused exclusively on building one product to set the standard for financial reporting and equity management. The result is the Equity Management System(TM) -- FAS 123R compliant, broker independent, scalable, fully auditable software. EASi's team members are leaders in their fields, and collectively process more than 80 years of experience in finance and benefits management and more than 55 years in programming and software design. Headquartered in Pleasanton, Calif., EASi can be reached at 800-921-3274.
CONTACT: Sarah Tongue, Director of Communications of Equity Administration Solutions, Inc., 800-921-3274, or sarah.tonge@easiadmin.com
Web site: www.easiadmin.com/
