OptionTrax Takes the Pain out of Equity Compensation Plan Audits

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WEST CONSHOHOCKEN, PA Jonathan Miller, CEO of Plan Management Corp., the owner and developer of the OptionTrax® Equity Management Platform, recently announced the OptionTrax System now enables plan administrators to add additional controls in compliance with Sarbanes-Oxley with a streamlined grant issuance and paperwork review and approval process and audit trail.

Grants can be submitted for review to administrators with security rights to review grants and reviewers can review and reject or approve the new grant issuances.

  1. When the grants are submitted administrators with approval rights receive a notification alert that there are grants to approve.
  2. Reviewers will see grant details, vesting schedules and draft grant paperwork for each grant.
  3. Plan accounting reports and the OptionTrax participant portal will only display approved grants.
  4. Audit logs of grant submission and review activity are available in a Grant Approval History Log.

These latest features allow issuers to divide roles more granularly between the input and approval of grant data, creating additional controls that smooth the audit process for their equity compensation plan.

Mr. Miller added, “We are very excited about solidifying and simplifying the grant award and approval process for our clients and supporting them in meeting the Sarbanes-Oxley and control requirements for their equity awards. We are especially proud of our new ‘Grant Approval History Log’ which is an auditable report of all grant submission and review activity. Now administrators, officers and auditors can easily track the origin and review controls of all issued grants. We are proud to continue to lead the industry with new functionality that drives meaningful impact for our clients.”

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