Employee plan services are essential for most company owners. You know that you need a plan and a way to compensate employees. Many times, you are likely to give them stock options if appropriate. However, that can complicate matters further if you don’t use a transfer agent. Therefore, it’s a good idea to find a solution to help you manage shareholder records and utilize the appropriate software.
Regardless of how many employees you have, it is essential that you can track their stocks and share within your company. Without such abilities, you may give too much. While it’s a good idea to let employees ‘own’ part of the company, you shouldn’t give it all away. Many times, company owners just aren’t sure how many stocks or shares they should offer. With tracking abilities and the use of software, you can ensure that you give appropriately and still have plenty.
You can also hire a transfer agent who can help you with recordkeeping. However, they can also offer many other equity tracking options, such as side-by-side stock options, Restricted Stock Awards, and Restricted Stock Units. You can track everything required and don’t have to worry about a thing, as the transfer agent handles it all for you. However, you’re free to view any activity in your shareholder’s records whenever you wish.
Employee plan services should include administrative software, usually as a cloud-based service. This software is designed for your use, as well as that of other administrative professionals. In some cases, you can allow limited access to employees, allowing them to check their stocks, as well.
However, the goal of the software is to manage all employee equity compensation. You can manage restricted stocks, warrants, stock options, and other award options, such as major equity classes or other compensation needs. Visit Colonial Stock Transfer Company, Inc. for more information.