NEW YORK--(BUSINESS WIRE)--AST, a full-service, tech-enabled professional services firm that helps companies and shareholders across North America maintain momentum through the use of secure corporate data, analytics and advisory services, today announced the launch of a new, proprietary financial reporting system that empowers companies to more easily produce SEC and IFRS-required equity compensation information for their quarterly and annual filings.
The robust reporting system allows users to complete a range of tasks more efficiently than ever before, offering them the ability to:
- Maintain all equity expense reporting in one platform;
- Reduce audit costs through detailed source reporting;
- Eliminate offline support files;
- Maintain an audit trail of any changes by authorized users;
- Comply with ASC 718 and IFRS 2 rules; and
- Reduce transition risk by tying back to reported financials, not the prior saved report from a financial reporting module.
“AST is always innovating and, at the same time, working to add value to our existing offerings,” said Jeffrey Cohen, Executive Vice President of AST Equity Plan Solutions. “We’re proud to offer our clients an integrated, transparent solution for all their financial reporting needs, while greatly reducing administrative headaches.”
The system offers valuation, expense, diluted earnings-per-share and tax accounting capabilities for all equity award types. In addition, the system supports modifications, re-measurement and repricing of options, warrants and restricted shares. It includes configurable allocation templates for graded, straight-line and retirement eligibility, and supports liability award, non-employee expense accounting, market award and performance award probability accounting.
The system supports: U.S. GAAP Award expense calculations and amortization; disclosures and dilution requirements; non-standard service period requirements; performance and service-based awards; grant modifications; and period lockdown. The solution is SOC-1-compliant and calculations were certified by an industry-leading equity compensation consulting firm.
“Our team of experts and support professionals are ensuring an easy, streamlined onboarding process for all clients,” said Marty Flanigan, CEO of AST. “In addition to plan administration, AST’s clients can benefit from a range of integrated services that help them move their businesses forward.”
For more information about how AST helps clients attract and retain talent through equity-based compensation, please visit: https://www.astfinancial.com/equity-plan-solutions.
About AST
AST was originally founded as a transfer agent over 45 years ago. Through organic growth and strategic acquisitions, AST has pioneered a new model of integrated ownership services and financial technology in the industry. AST affiliates include AST Trust Company (Canada), D.F. King & Co, Inc. and Donlin, Recano & Company, Inc.
Today, AST offers a full scope of ownership services that include registry services, corporate proxy solicitation and advisory solutions, employee plan services, information agent, mutual fund proxy solicitation, shareholder identification and asset recovery offerings. For more information, please visit www.astfinancial.com.
