Fidelity Introduces Global Stock Plan Solution

Fidelity launched a plan sponsor website, Global Solutions, which will assist companies in managing employee stock plans in multiple countries.

Global Solutions consolidates all of Fidelity’s global stock plan services into one site. Plan sponsors can find information about managing global stock plan requirements (e.g., mandatory cash sweeps); completing plan administration and reporting (e.g. long-share reporting); tax and regulatory support; participant support (e.g., making transaction proceeds available in 130 currencies); and multilingual support (e.g., participant website in 11 languages, including the newly added Malay, Thai and Vietnamese).  

Earlier this year, a Fidelity survey found the majority of company stock plan assets (57%) are being earmarked for eventual investment or retirement savings after participants sell them. (See “Stock Plan Participants Earmarking Assets for Retirement.”)

On the Global Solutions site, employers have access to new support services, including: 

  • Restricted stock sell-to-cover—provides flexibility for tax withholding, allowing a participant-level sale of shares to cover tax withholding for restricted stock and performance awards;
  • Enhanced tax lot detail — helps participants better understand the value of their holdings by including the source of shares and grants; 
  • Global tax guide — provides plan sponsors an explanation of the taxation of equity awards in more than 30 countries, including income sourcing and residency rules for employees who move between tax jurisdictions; and 
  • Enhanced mobility tracking — provides plan sponsors with an updatable location history and the flexibility to report on nine mobility tracking fields.