Insider Trading Solutions will Enhance Computershare's Stock Plan and Compliance Expertise
NEW YORK, Oct. 9 / -- Computershare Limited , a leading financial services provider for the global securities industry, today announced that Computershare Inc. has signed a merger agreement to acquire Restricted Stock Systems, Inc. (RSS), a leading provider of insider trading software and services to brokerage firms and publicly traded companies. Restricted Stock Systems' solutions allow inside traders to buy or sell securities within the trading plan safe harbor of SEC Rule 10b5- 1(c). Trading plans can be selected, approved, monitored and sent directly to a preferred broker entirely through the RSS web-based application. The merger is expected to close within 30 days, pending the satisfaction of closing conditions.
The acquisition will enhance Computershare's growing number of compliance- related services, including stock option, restricted and employee stock purchase plan administration and software as well as global subsidiary management solutions. The RSS solution will also complement and enhance Computershare's current employee plans offering in the US.
"Restricted awards are becoming a greater part of compensation plans. And, with the greater flexibility to insiders via Rule 10b5-1(c), managing, tracking and reporting insider trading has become more complex and resource- intensive," said Steve Rothbloom, President and CEO of Computershare US. "Insider trading solutions are the next natural step for Computershare. We already provide software, administration and management to clients in all industries for their employee stock plans. Now we can provide even broader support to clients as they manage their compensation programs."
Restricted Stock Services, Inc. was founded in 2000 and is located in Princeton, NJ. They have 20 employees.
Computershare is a global leader in transfer agency, employee equity plans, proxy solicitation and other specialized financial and communication services. Many of the world's largest companies employ our innovative solutions to maximize the value of their relationships with investors, employees, customers and members. Computershare has approximately 10,000 employees across the world and serves 14,000 corporations and 100 million shareholders and employee accounts in 17 countries across five continents. For more information about Computershare, visit www.computershare.com
About Restricted Stock Systems, Inc.
Restricted Stock Systems, Inc. provides the industry's only commercial software to manage Rule 10b5-1(c) trading plans in addition to software and services for processing and reporting of restricted stock and insider trading compliance. Offering comprehensive trade management and compliance solutions, Restricted Stock Systems enables public companies and financial institutions to simplify the collection and verification of shareholder information, automate required filings and streamline compliance processing and reporting. With software and services to support Rule 10b5-1(c), Rule 144, Venture Capital distributions and Forms 3, 4 and 5, Restricted Stock Systems' insider trading and compliance solutions are used by many leading financial firms and Fortune 500 companies. For more information, visit www.rssgroup.com.
EVP, Marketing North America
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Media Relations, Marketing North America
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Source: Computershare Limited
Web site: www.computershare.com/http://www.rssgroup.com/