UBS Makes Technology Enhancements in Equity Comp Services

UBS Wealth Management Americas is rolling out a number of enhancements in its multi-year technology roadmap for the equity compensation plan services business.

The tracking and reporting of tax mobility has become one of the industry’s top issues both within the U.S. and internationally. UBS said it understands the needs of its corporate clients and has recently introduced enhanced Tax Mobility Tracking that assists companies to meet their tax mobility requirements. Participant location recordkeeping, allocation of taxable compensation, tax recordkeeping and reporting are all part of this release.  

Features include: 

  • Recordkeeping participant home and work locations (“assignments”) over time
  • Calculating taxes from grant date to vest date, or based on grant-level tax codes and allocation percentages
  • Automatic allocation based on work assignments
  • Client specified allocation percentages at the grant level
  • Presenting mobility history to participants with optional self-certification
  • Processing transactions for mobile population via UBS One Source
  • Reporting for the awards of mobile populations 

UBS is also enhancing its cash settled restricted stock units (RSUs). According to the company, many corporations are beginning to utilize cash settled RSUs to help minimize their company’s stock dilution and eliminate open market trades. This enhancement provides companies with the ability to classify a restricted stock unit as either cash settled or stock settled and displays those awards distinctly on UBS One Source. Companies can select to have the cash proceeds less any applicable taxes paid through payroll or deposited directly into the participant’s UBS account. 

Lastly, the enhancements include a fully integrated benefits display. This feature allows UBS clients to deliver integrated summary level benefits information to their participants housed on the UBS OneSource Web site. This enhancement enables participants to view a summary of their benefits including all equity compensation plans, 401(k), Non-Qualified Deferred Compensation and Health Savings balances, regardless of who administers the plans. 

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