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3.99.991 -> 3.99.993
It is now possible to use Vesting Details individually, per grant settings, regardless of the global settings from the New Grants - System Tasks screen.
Just specify keyword UVD in the grant's Notes field.
Please note that if you are using any Recalculate Vesting system tasks or Calc at Grants Modify screen that calculation may fail. In such case please remove UVD keyword, do the calculation, and then set keyword again.
Expense Allocation BSS/Bin report has been modified and it is not necessary to specify keyword EADP if grant has been vested before report period start date, while granted within reporting period.
Employee Termination process has been updated to strictly accept termination reasons from the drop-down list in order to assure correct calculation of termination grace period.
Valuation screen for repriced/exchanged grant now shows under 2nd set of inputs what is actual valuation with new forecasrt and old price. 1st row shows incremental (resulting) valuation as before.
Valuation for repriced/exchanged grant has been corrected in expected term boundaries for repriced/excahnged grant 2nd inputs to include original grant expiration date as a part of calculation.
3.99.989 -> 3.99.991
Options Canceled/Expired report now calculates and exports saved expenses for the canceled grants.
3.99.715 -> 3.99.989
Stox Swap Exercise type - modified calculation of shares required to round to whole number (or specified number of fractional shared per plan settings). Previosly, system was dropping fractions (or excess decimal places absed on plan settings)
Price Volatility report - correction in calculation of treasury rate lookup.
3.99.224 -> 3.99.715
Added Roll-Forward report as an addition to the Options Outstanding report - you can specify roll-forward start date and system will show different layout with status as of start date, and details per each grant record for the reporting period between from date and as of date. You can use this to show details for Option Activity Summary. Make sure you clear Omit w/0 outstanding.
Export button will export different fields if you have run roll-forward report.
3.95.919 -> 3.99.224
Added Restricted Stock Ledger report under Reports - Employees. It shows detals related to Restricted Stock Units vesting, number of shares vested per each vesting date, number of shares withheld for taxes, and net shares balance. You need to technically record RSU "exercises" after they vest in order system to pick up required info.
Corrected SCRATCH Options file related to calculating expenses for monthly (quarterly) vest types. Affected is Expense Allocation BSS/Bin report and Stox releases 3.95.115 and 3.95.919.
3.95.115 -> 3.95.919
Modifications to Expense Allocation BSS/Bin calculation on repriced/exchanged grants - corrections in cases when repriced grant is vested, and when repriced grant is canceled after the reprice date (as a result of employee termination, for example).
Performance improvements in expense calculation if you do not Use Expense Details. Procedures upgraded so same code base is used both for cases where you Use Expense Details and do not use it.
Although still not mandatory, Use/Save Expense Details is on by default, and is absolutely recommended and required for correct expense calculations. If you are still not using Expense Details, and do not save period expenses, please contact us for transition instructions.
Remaining life in years is modified to correctly reflects repriced/exchanged grants.
3.84.919 -> 3.95.115
Modifications to Expense Allocation BSS/Bin calculation on repriced/exchanged grants - system now continues to show and calculate expenses for original grant until the original vest date, while new grant expenses are calculated from adjustment date (reprice/exchange date). Inherited amount for new grant and Carry Forward amount for original grants are $0.
ESPP Valuation in corrected related to plan discount.
Data check in Exercises looks for possible records with exercise date after the grant last exercisable date. Probable cause for such situation is exercises data import.
3.84.528 -> 3.84.919
Modification to Expense Allocation BSS/Bin calculation - Prefer Min Vested has been modified to calculate period expenses when total straight line % is over the shares vested %
If there is a vest date within reporting period system calculates expenses proportional to the shares vested and continues from date when straight line percentage becomes greater than shares vested percentage.
If there is no vest date within reporting period system calculates expenses from date when straight line percentage becomes greater than shares vested percentage, if such date falls within reporting period.
Storing expense allocation report settings with period expense in the expense details table.
Adding keywords to Valuation Notes in order to override Expense Allocation BSS/Bin report settings, making it possible to run different expense allocation parameters.
Currently accepts override for:
STL - straight-line
PSL - plain straight line
FIN28 - fin28 method
PMV - prefer min vested
UUA - use unamortized
VFD - use vest from date
Expense Allocation BSS/Bin report shows number of outstanding unvested shares, to the left of shares outstanding, at the summaries, and at the export.
Price Volatility report default input for number of annual periods/days has been changed from 255 to 252.
3.84.128 -> 3.84.528
Expense Allocation report is modified in order allow easy calculation of expenses for grants that you have missed to enter in previous reporting periods, or for grants that are canceled in previous quarter but you forgot to do that.
Performance related vesting is much easier to enter into Stox. When you know performance criteria (met, not met, partially met) there is a system task to Modify Performance grants.
ESPP Refunds - it is now possible to delete manually created refund. Contributions Modify process is changed to allow this resulting in much easier way to create individual refunds.
System now mandatory logs when each user enters Stox, and when quits.
3.63.919 -> 3.84.128
Expense Allocation reports now include deferred tax assets related to expenses.
System reads tax rate per grant from User Data 4 field, or apply tax rate specified as report input if User Data 4 is empty.
It applies percentage on Net Period Amortized, and stores it in RV Credit field.
Added User Data 4 and RV Credit field to export only.
Expense Allocation report - added sort by both User Data and User Data 2 field (and associated sub-summaries)
First click on User Data 2 sort button sorts only by User Data 2, second click sorts by User Data and User Data 2.
Changes in Export procedure to allow export for summary only info by User Data and User Data 2.
Expense allocation calculation now calculates expenses in two passes - from report start date to latest vest date in the reporting period + from latest vest date in the period to report end date.
If there are no vest date in the reporting period calc is from report start to report end date.
Correction in Expense Allocation forfeiture rate calculation when grants starts vesting after the grant date.
Unamortized Expenses report now shows 0 years remaining to vest if grant is cancelled as of report end date.
New Purchases process change - Modified Data Check in Contributions to check if contribution date relates to employee subscription date, termination date, withdrawal date, employee status in order to flag if there is a person who contributed but is not on the eligible list (not marked as an employee, is terminated, withdrawn, not subscribed).
Expense Allocation BS Multiple - added Unamortized report and export.
ISO Limit check changes - adding a correction that clears 0 shares vesting periods.
As a result of ISO + matching NQ split ISO grant may have 0 shares in the first few vesting periods, and then only shares at the end, and NQ will have 0 shares at the end.
Modified process will now remove 0 shares vesting and re-arrange vesting schedule so no blank periods exist.
Stock Split modifications to store more information about stock split in Notes field (or Leftover Notes in Purchases) in order to capture pre-split shares number and price. It can be used later if post-split reconciliation is needed.
Updated License Agreement text.
RPT Stock & SAR Ledger - correction related to multiple exercises per grant.
3.63.814 -> 3.63.919
Expense Allocation BSM (Black-Scholes Multiple valuation model) - added Save Expenses and Read Expenses.
Expense Allocation BSS/Bin report and export - deferred tax calculation - allow use of tax rate per grant in User Data 4 field, or apply tax rate specified as report input if User Data 4 is empty. Then apply percentage on Net Period Amortized. Add User Data 4 and calculated deferred tax to export only.
New Grants, grants modifications - SCRATCH Options - added Use Global Prefix.
If checked, and global prefix is empty it means no prefix is used in Option ID - no plan name in option id.
Go To New Grants - System Tasks and set it. Applies for new grants only.
Options - Data Check - added check if employee is terminated but grant is not and grant date is after the termination date (report employee should rehire); or grant is not canceled even if termination date is before grant expiration date (report cancel b/c term.)
Expense Allocation - added modifications to treatment of expense adjustment in the valuation notes field so system calculates period expense even if grant is vested prior to report begin date, but to include (subtract) previous expense amount from total (outstanding * new valuation)
Use keyword EADP in grant valuation notes instead of EAD.
Correction to make sure expense adjustments with EAD keyword are saved.
ESPP - RPT Purchase Confirmation by Employee - changed text that was missleading - Previous balance of Shares to Previous YTD Shares, and Current Balance of Shares to Current YTD Shares. Same applies to send by email.
Correction in Stock & SAR Ledger that may incorrectly account for exercises.
3.63.115 -> 3.63.814
Improved option pricing experience:
Price Volatility report - valuation inputs - calculate weighted average interest rate based on expected term and two closest interest rates from on-line source treasury yields on date.
Update to Grants Approaching expiration to show both canceled/expired as a result of last exercisable date and not only expired by original option term.
RPT Options By Price - performance improvements when range of prices is set.
Expense Allocation reports (both BSS/Bin and BS Multiple) - added export for summary only by User Data or User Data 2.
Expense Allocation - Save Expenses - shows message that expenses are saved.
Corrected Expense Allocation BSM report - sort/group by User Data fields and related subsummaries.
Expense Allocation BSS/Bin and BSM reports - performance improvements, skips all records that are not part of the report, and then process.
Allowed mixing Expense Allocation reports and different BS formula with saving expenses for the same reporting period, and using it for running Diluted Options Outstanding reports.
Tax Withheld report - show records if Total Gain >0, not only if taxes paid >0. This way it will show W2 calculated gain.
Corrected Auto Save Backup on Exit so it saves all system files.
StoxForensic does not work if not in Stox root folder, changed cfg file.
Changes to Options Data Check not to report errors when external valuation is used.
Correction to Stox update not to show unlock code message after system update.
Correction to Stox update procedure when new Stox has different password from old Stox.
3.42.919 -> 3.63.115
Improved option pricing experience:
Expected Term By Class report - added Cancel After Vest input - if checked system will treat grant cancellations as after the vest date.
Price Volatility report - corrected Create Forecast procedure.
Unvested Forfeitures - corrected Update Forecasts procedure.
Expense Allocation BSS/Bin report - corrected unamortized expense report when there are more than five future periods.
Log System Statistics improved in new grants and new exercises.
Consolidated specific Stox versions (Public, Private/Ownership) in the area of stock option expense reporting capabilities.
3.42.314 -> 3.42.919
Improved valuation input estimate experience, which helps both employee and non-employee valuation and expenses:
Expected Term By Class report - added button to Run Price Volatility report after you get expected term estimate. Report will be run over expected term years before expected term report end date.
Price Volatility report - added Create Forecast button that will create forecast record with default name equal to report end date, with volatility as calculated by the report, with input for dividend rate, and for interest rate with link to lookup treasury notes.
This help creating forecast for non-employee valuation/expenses that are re-measured during the reporting quarter.
Unvested Forfeitures - added Update Forecasts button that will update unvested forfeitures in all forecasts that have specified keywords - it is User Data and User Data 2 propagated as report input, and it is treated with AND - both keywords must exist. If you want additional keyword add it with OR, for example "Management OR mgmt".
Unvested Forfeitures report - added report input to include only grants unvested X years before status as of date.
Bug fix in creating new refunds that may result in pointing it to incorrect employee.
3.42.102 -> 3.42.314
Added Expected term by class report, which combines exercises, canceled options, and outstanding options in expected term calculation to help in creating option valuation forecasts.
Bug fix in APIC Pool report related to grant that has both canceled and expired shares in the reporting period.
Bug fix in Diluted Options Outstanding Reports related to average unamortized expense that has to to $0 if grant is fully vested or canceled before reporting period start date.
3.21.919 -> 3.42.102
Added new report as an addition to Expense Allocation BSS/Bin report that shows unamortized expense distribution over future vesting years, and weighted average remaining life.
Employee Termination procedure does not set cancel date if grant has been expired before Termination Date.
Web Export - based on system preferences system now does an export only for non-terminated employees - it will skip terminations occurred before the date specified at the Maintenance screen.
Stox in multiuser scenario now automatically loads system preferences upon login if preferences are saved as autoloadprefs.csv
Stock Options Ledger report - changed report name to Stock & SAR's Grants Ledger. Added is possibility to filter only records of certain type (for example if you want only SAR type SAR in the drop down list, or select specific type).
Added Blackout Dates (from - to) at system preferences, which will block saving new exercises with dates within blackout period.
Bug fix in Diluted Options Outstanding report that may not calculate number of days outstanding correctly when grant is both canceled and exercised within reporting period.
3.21.511 -> 3.21.919
Please note that Stox release number is moved to About screen.
If your support and maintenance date is near, and you have renewed/extended your support, it is now possible to enter an unlock code at the About screen before original support date passes.
Setting Option Valuation to external value is now easier at the Option Valuation screen.
Bug fixes in Employees Partial Import if importing termination info.
3.21.020 -> 3.21.511
Updates to the Expense Allocation BSS/Bin reporting to allow graded vesting allocation method (Fin28), which treats each vesting period as a separate grant.
If your support and maintenance date has passed, and you have renewed/extended your support, it is now possible to request an unlock code and enter it at the About screen.
2.92.919 -> 3.21.020
Updates to set of Diluted Options Outstanding reports for full ASC 260 compliance (default report inputs are now set according to ASC 260 requirements).
Updates to the Expense Allocation BSS/Bin reporting to allow easier and transparent reading of previously calculated expenses, as well as extended support for expense adjustments (both one time and from the grant date retroactive adjustments as a result of grant modifications).
2.92.618 -> 2.92.919
New all-gray Stox color scheme.
Added Option Statement By Employee report, with Send by e-mail option.
Expense Allocation BS Single/Bin straight line allocation method enhanced to allow user to select expense calculation based on Unamortized Expense as of report begin date, and not based on the Total Expense.
Expense Allocation BS Single/Bin straight line allocation method enhanced with check-box "Prefer Min Vested", which will check if there are no shares vested in the period and if total amortized as of report end date is at least equal to the amount proportional to the number of shares vested as of report end date. This opens up possibility to have $0 period expense.
Employee Termination procedure enhanced with check-box control to cancel all grants or only grants up to termination date.
New Option Dispositions and New Purchase Dispositions enhanced to show summary fields for shares disposed, disposable and to-dispose, as well as Total section for all new records.
Added two more rows to Select Employee screen, to show Purchase Accounts, Option Accounts, and Custom fields 2 & 3, which is needed in order to quickly identify employee at new purchase/option disposition screen.
Added sort/group by Custom field 2 on the Expense Allocation reports, in addition to existing sort/group by Custom field 1.
Modified New Grants screen to copy Custom fields from Employee profile. Only user fields with same labels will be copied.
Added system task in Options to copy Custom fields from Employee Profile for existing found set of grant records.
Added group/sort by transaction years in the APIC Pool report.
Error fixed in Send by E-mail procedures that may incorrectly format option prices if less than $0.10
Option Summary report enhanced to show up to 42 rows of detailed vesting information instead only 30.
2.92.304 -> 2.92.618
Corrections to the Expense Allocation reports when Show Outstanding Vested is checked and grant vest date is before report start date.
Corrections to the Expense Allocation BSS/Bin report related to Use Expense Details and Expense adjustment as of grant date.
2.90.959 -> 2.92.304
Expense Allocation reports are modified for easier reading. There is a new column added that transparently shows ending result for net period expense amount.
There is a system tasks modification in Employees table that allows you to control showing sensitive information like SSN throughout the system.
Updates to the Price Volatility report that allows you to specify using weekly prices on specific day instead of daily prices for volatility calculation.
Grant Status report and Termination report are modified in the summary part for easier reading, and now show roll-forward totals for shares exercisable and outstanding.
Updates to the Modify Contributions process that allows you to create refund manually.
Modifications to the Expense Allocation reports to calculate and show expenses for the repriced options more precisely.
Corrections to the APIC Pool report to prevent incorrect processing of exercised shares.
Corrections to prevent possibly incorrect usage of fractional shares handling as defined in option plans data.
Corrections in import procedures for simple databases (like Prices) to address problems of not overwriting data on existing dates.
Corrections to prevent possibly incorrect shares exercised as-of-date calculation when option vesting adjustments are used.
2.90.942 -> 2.90.959
Improved APIC Pool report to automatically include both grants valued and expensed using Black-Scholes Single model or Binomial valuation model, as well as grants with Black-Scholes Multiple valuation model and related expense allocation.
Improved APIC Pool report to take expense adjustments into calculation. Adjustments are made if grant is fully vested, or terminated while unvested. Effects of unvested forfeiture rates and actual expenses are also consider in APIC Pool calculations.
2.90.919 -> 2.90.942
Improved Expense Allocation BSS/Bin report when using expense details. Added Save Expenses check-box, so system now does not automatically save expense details. This allows you to run a report using Expense Details and to sum all previous expense amounts in the Prior Amortized column and Save Expenses only when you check report validity first. In addition, you can re-run report for the same reporting period and do not overwrite previous expense detail records.
Added Include All check-box to the same report in order system to show all records, not just those with outstanding shares as of report end date, or just records that have period expenses. This allows you to run report and check Prior Amortized amounts.
Improved Log System Statistics in order to cover more details for the audit log report.
2.90.600 -> 2.90.919
Added On-line Help & Support system β. If set in Preferences, system will open web location with help related to the position you are in Stox (context sensitive) when you press More button or ? button in reports.
Added APIC Pool report to help with deferred taxes reconciliation, and to address effects of nq stock option exercised, disqualifying iso option dispositions, and terminations/cancellations or expirations, on APIC and FAS123R APIC Pool.
Added few keywords for Description field in the Vesting Schedules table:
RUE will instruct system to set Last Exercisable Date equal to Expiration date when you record employee termination;
E-1 will instruct system to set Expiration date one day prior when you records new grants, or modify vesting in stored grant record.
Added possibility to modify option price as a part of share adjustment in Option Vesting Adjustments, by reverse rate, and to round or drop calculated shares number if you specify +1 or -1 keyword in the vesting adjustment description.
1.90.600 -> 2.90.600
Added generic Assignments table to track any type of employee as-of-date or from-to assignments. This allows you, for example, to track employee assignments to specific department, or to track hire dates, when you re-hire a person.
Added Option Expense Details table in order to exactly track and record expenses as of date. It also allows you to specify starting expense adjustment, for example when you already have expensed amount prior using our software.
Added Option Vesting Adjustments table along with RSU (Restricted Stock Unit) stock type to address performance stock with variable vesting percentage that changes from time to time, with implications on expenses. You can have actual vesting percentage in one year to be 100%, then next year it can go up to 150%, or down to 25%. All of this is followed by adjustments in expenses.
Added Logs table - changed logging procedure to add new records in Logs table to completely cover data changes/audit reporting.
1.88.919 -> 1.90.600
Added Ending Vested + Expected to Vest entry at the Stock Option Activity Summary report. Two updated reports: Aggregate Intrinsic Value and Options By Price (radio button added that allows you to select report for Vested Shares + Expected To Vest using Unvested Forfeiture Rate from Forecast record.
Added Use Option Vesting Details for Shares Vested instead of calculating shares vested (check-box in the New Grants - System Tasks). With Vesting Details, it is possible to specify exact amount of shares to vest per each date, and it covers all possible combinations with uneven number of shares per vesting periods.
Added three additional (four in total) user data fields in Options. You can set field names (labels) at the Options - System Tasks.
Added Cancel Options checkbox on the Employee Termination screen. If cleared, grants will stay alive. This way you can terminate employee but not related options.
Added Modify Cancel Date along with Modify Last Exercise Date for terminated grants. This way you can have different termination date and option cancel date.
Added Net Exercised checkbox on the Options Outstanding report in order to show shares exercised minus repurchased.
Added in Forecasts - propagate row#1 input, but only if all other rows are empty. When you are entering new forecast record and have all the same data in all 10 rows, just populate first row and press column label.
Fixed bug - Reprice Option - newly created grant did not have vesting details created.
1.88.631 -> 1.88.919
Multiple option types selection for the Option Activity Summary and Aggregate Intrinsic Value reports.
Granted from-to selection for the set of Diluted Options Outstanding report to be in-line with Expense Allocation report to show only expenses for options granted from - to. Diluted Options Outstanding report simply carries over this input (so there is no granted from - to selection on the Diluted reports, since user has to run Expense Allocation report first).
Expired shares treatment on the Option Plan Summary report - added checkbox that means +/- to the pool of available shares.
1.88.411 -> 1.88.631
There is a system task in the Employees table that creates Web usernames and passwords required for StoxEMPOWER (tm)
1.67.981 -> 1.88.411
We have added multiple option plan selection as a report input to the following reports:
Options Granted, Options Canceled/Expired, Option Valuation, Options Outstanding, Options By Price, Diluted Options Outstanding, Expense Allocation, Option Activity Summary, Options Summary, Post-vesting Terminations, Unvested Forfeitures, Aggregate Intrinsic Value.
This allows you to group report results by more than one option plan.
Starting from this release we have support and maintenance dates shown on the About screen.
Expense Allocation Black-Scholes Multiple report has been upgraded to address expense adjustments upon vesting.
1.67.947 -> 1.67.981
There are two new reports that show details behind Aggregate Intrinsic Value calculations found on the Option Activity Summary report:
Aggregate Intrinsic Value report for shares outstanding and exercisable as of report end date.
Intrinsic Value report for shares exercised during the reporting period.
We have also improved intrinsic value calculation to use correct fair market values on each exercise date inside reporting period.
1.67.919 -> 1.67.947
Starting from Stox 1.67.947 there is a separate Option Vesting Details table.
It stores exact number of shares to vest per each vest date. Vesting schedule inside grant record defines vesting periods with availability (vest type) like quarterly or monthly, which means there are several vest dates inside one such vesting period.
One record in the Option Vesting Details table stores number of shares to vest per each individual vest date.
This table is also a support to StoxEMPOWER web xml export from the Maintenance screen.
There are new allocation methods implemented for the Expense Allocation BSS/Bin report:
Vest Line - calculates expenses proportionally to the number of shares vested during reporting period;
Straight Line - has been modified according to the rule in paragraph 42 of FAS 123R, which states, "The amount of compensation cost recognized at any date must at least equal the portion of the grant-date value of the award that is vested at that date."
Plain Straight Line - divides total valuation amount evenly across the whole vesting period, and it corresponds to the Straight Line method from previous Stox releases.
1.67.617 -> 1.67.919
There are updates to the set of Dilution reports to address requirements for Unamortized Expenses. It is now included in the report, and not required as a report input. Please note that you need to run Expense Allocation report for the same period first, and then run the Diluted Options Outstanding report in order system to pick up correct expenses.
There are updates to the Expense Allocation and Dilution reports in order to allow you to include all vested and outstanding grants during the reporting period. This is for easier audit. Also, default sort order has been set to sort by option id for the same purpose.
There is a new system task in Options that allows you to specify valuation per share instead of calculating it. Like most of the system tasks this works on the found set of grant records, so it is possible to specify same valuation per share for the records with same grant date.
There is a new system task in Options that allows you to specify valuation per share for RSPs - to be equal to option price or FMV on grant date, which will allow you to use same Expense Allocation report like for regular grants. Please note that you still need to attach forecast record with RSP grants on the valuation screen.
There is new report to show comprehensive Exercise Details.
There is a new feature in the option valuation to allow you to specify option term smaller than full vesting period. You need to specify keyword FET in the Valuation Notes on the option valuation screen and save valuation parameters.
There is a new feature in the forecasts table to allow you to specify keyword FPS in the Forecast Description field and system will then apply unvested forfeiture rate in the valuation per share and use it that way accross expense allocation reports.
There is a new feature related to the espp refunds that will prevent specified contribution records from being refunded. You need to add keyword NR in the contribution Notes field.
There are updates to the Options Summary report that allows you to select only active (non-terminated) employees.
There are updates to the Options Outstanding report that allows you to select only specific employee to run report for.
We enhanced the Post-vesting Terminations report to take exercised shares into account when calculating values.
1.67.115 -> 1.67.617
This release brings interface to our new product StoxEMPOWER, which allows you to host your data over the Internet, so your employees can access on-line and see its options status, for example.
There are updates to the ESPP module of the Stox, in purchase plans you can define number of fractions system will use to round shares number in share purchases.
There are updates in Insider reporting Forms 3,4,5 and its XML Edgar On-line preparation.
Stox now have Black-Scholes Value Implied Expected Term Method implemented for the binomial (lattice) valuation model.
Black-Scholes valuation allows you to specify free expected term value if you add keyword FET in the Valuation Notes field on the Option Valuation screen. This is to be used in special cases where your expected term is lower than full vesting period.
Changes in the Option Activity Summary report to use Option Price as exercise price and also fair market value at grant date instead of a calculated valuation (for restricted stock purchases, mostly).
1.67.027 -> 1.67.115
This release brings improved precision in our binomial valuation model. In addition, Option Valuation report shows expected term output more accurately.
There has been improvement in the set of Diluted Options Outstanding reports, which now reflects grant exercise history completely accurate.
There are changes in the New Grants procedure on ISO/Matching NQ shares - new grant details screen now shows matching NQ shares along with ISO shares.
Exercisable Gain report can be sorted and grouped by Employee Name now.
1.46.827 -> 1.67.027
This release brings modifications to the Expense Allocation reports. You can now run these reports for the range of grant dates. Previously, all grant records have been processed.
Expense Allocation BSS/Binomial report has been modified to calculate expense adjustments upon option vesting date. This should be used to true-up expenses calculated using the unvested forfeiture rate estimate.
An Export button has been added as well.
Option Activity Summary report has been modified for 10Q reporting in the non-vested roll-forward section - it now includes additional lines for shares granted and vested inside reporting period.
1.46.605 -> 1.46.827
This release brings modifications to the report formerly known as Expense Allocation APB25, which now works and calculates expenses both for discounted stock options and restricted stock, using intrinsic value on the grant date.
Option Activity Summary report has been modified for 10Q reporting on restricted stock - there is a new check box that will report only Restricted Stock.
Options Canceled/Expired report has Export button added.
1.46.026 -> 1.46.605
This release brings Auto Backup feature, placed at the system Preferences screen. If checked, backup will be created upon system exit. Backup is date and time stamped and there an external program called Stox Forensic, which can be used to restore system backup.
There are updates at the Unvested Forfeitures and Post-Vesting Terminations reports, which now gives yearly forfeiture rate at the end of report.
Edgar OnLine form filing is updated with external program called Edgar Submissions, placed in the Export folder, which creates xml file for direct upload to the Edgar site.
1.45.995 -> 1.46.026
This release brings updates to the Expense Allocation reports, with possibility to use estimated forfeiture rate on unvested shares.
There is a new report Unvested Forfeitures, which helps you to estimate forfeiture rate of unvested shares.
Forecast table allows you to specify Unvested Forfeiture rate, to be used in Expense Allocation reports, and Post-vesting Termination Rate, to be used as binomial lattice valuation model input.
Option Activity Summary report is updated to meet full FAS123R requirements for 10Q reporting on nonvested shares.
Option Valuation report - updated to provide details for weighted averages shown at the Option Activity Summary report. It is possible to specify reproting period From-To dates, and independent Granted As Of date. List-box allows you to select: Outstanding, Unvested, Vested, Granted, Canceled, Expired, Exercised, Outstanding Unvested, Outstanding Vested, Forfeited Unvested, and Granted Unvested. All of these as of report end date OR inside period from-to.
There are Year End Package reports added, which list year activities, stock options status, and espp history.
1.45.971 -> 1.45.995
Vesting Schedules - added vesting period duration in days or months + days. In addition to previously available months + weeks vesting period duration (mm.ww), we have added mm.ddd vesting period duration. In order to use days and not weeks you need to add keyword DV in the vesting schedule Description field. Example: 0.256 in the 'Months' column, and keyword DV in the Description field, means that vesting period will be 256 days long. If you specify 3.021 it will be interpreted as 3 months and 21 days. Please note that if you do not put keyword DV in the Description field, system will use mm.ww coding, and 3.021 will be 3 months and 2 weeks, since system will use only two digits after the decimal point, while for days (with DV keyword) it will use three digits.
Purchase Plans - there are two new Limit type: Per Offering All, and Per Offering Employee. If you specify Per Offering All, you need to enter Share Limit For All, and that is maximal number of shares purchased during the offering period. Previously, there was Per Purchase All limit type only, which limits number of shares purchased per one purchase date. Second limit type, Per Offering Employee, requires you to specify share limit in the employee record, and it is also limit per offering. Please note that if share limit fields are empty of equal to 0 the limit will not be applied.
Purchase Plans - there is new Price Basis - Lower w/higher. Previously, existing price basis was Lower only, which means that purchase price is lower of price at offering and at purchase date, with possible discount applied. For employees subscribed after offering begin date, system always used price at subscription date and compared it with price at purchase date.
With this new price basis - Lower w/higher, if employee is subscribed after the offering begin date, system will find higher of price at offering begin date and price at subscription date, and compare that value with the price at purchase date.
Stock Options Ledger Report now allows you to exclude restricted stock purchases from the report.
1.45.945 -> 1.45.971
Option Activity Status report - added Intrinsic Values calculation based on report's end date price; added Non-vested roll-forward activities, with weighted averages of gratn date fair values and weighted average remaining years to vest. These additions are to be used for FAS 123R 10Q compliant report.
Option Valuation report - As Of check-box plus list-box to select Outstanding, Unvested, Vested, Granted, Canceled, Expired, Outstanding Unvested, Outstanding Vested (as of report end date OR inside period from-to). This is to be used as details for the summaries shown at Option Activity Summary report.
1.45.919 -> 1.45.945
Option Valuation screen - added check box Do Not Calculate valuation that allows you to effectively disable option valuation calculation at some ppoint of time and to use currently stored (or imported) valuations.
Option Valuation report - As Of check-box plus list-box to select Outstanding, Unvested, Outstanding Unvested, Outstanding Vested (as of report end date)
Export button added to reports: Option Valuation, Expense Allocation BSS/Bin, and BSM.
1.45.702 -> 1.45.919
This release includes new Stock Options Ledger report where you may see details for options granted, with vesting period details, and exercise activity, sorted by activity date. Report also shows cancellation and expiration activity, if occures within reporting dates.
Transactions - Find Transferrable transactions - Added as a Scheduled task, plus ask for it after new exercise for the insider has been created.
Forms - Deemed Execution date added to forms and transactions.
Bug fixes in possibly incorrect vesting calculation for monthly vesting type when vesting period falls on month end.
Bug fixes in slightly incorrect calculation of Prior Amortized expenses (period off by one day). Affects Straight Line model for BSS/Binomial, then Normal model in BS Multiple, and Straight Line model in APB25.
1.45.605 -> 1.45.702
In addition to the FAS 123R compliant binomial lattice valuation model, our latest Easy Options/ESPP Custom (tm) software release includes Expense Allocation per division/department - there is a button Sort by Custom data field, which breaks expenses into groups with same Custom Data field. If user labels Custom Data field at the Options - System Tasks, say, Division, and update all grant records with Division data, they can run Expense Allocation as usual, and after the report has been generated they may click on Sort by Division and press Preview button to see records grouped by Division.
1.45.515 -> 1.45.605
Latest Stox offers improved and fully automatic system upgrade procedure.
From release 1.45.605 Stox offers FAS 123R compliant lattice valuation model. We have improved our binomial valuation model, which exists from year 2001, to accept two new valuation parameters: suboptimal exercise factor and post-vesting termination rate.
Please review valuation screen, request an upgrade if you are our current customer, or visit our downloads page and request a fully functional product demo.
Granting Options that vest at the month-end dates - system now senses if end of month is used as vesting period date and calculates next vest dates accordingly.
Changed system behavior on cancel dates - system now treats shares canceled exactly as of cancel date, not one day after.
1.45.315 -> 1.45.515
Latest Stox 1.45.515 offers FAS 123R compliant lattice valuation model. We have improved our binomial valuation model, which exists from year 2001, to accept two new valuation parameters: suboptimal exercise factor and post-vesting termination rate.
Please review valuation screen, request an upgrade if you are our current customer, or visit our downloads page and request a fully functional product demo.
RPT Options Outstanding: report type C added - shows summaries only for records grouped by: option date, plan name, employee name, option type, option price, or vesting schedule.
RPT Option Valuation - added Outstanding/As Of check-box. If set, system finds and shows number of shares outstanding as of reporting end date, and calculates total valuation based on the outstanding shares number.
1.24.979 -> 1.45.315
Variable Valuation - it is possible to specify Forecast with a keyword 'vv' in its name, and with starting valuation date at the end of forecast name. Example: "vvTest 12/31/2004". Then, as a term, user has to specify 'starting term', since system will decrease 'term' whenever new valuation is performed. This also requires that new forecast record exists, on the new valuation date. At the end, we would need price from the Prices table as of valuation date. Example: on 12/31/2004 we have set forecast 'vvTest 12/31/2004' with interest, volatility, div. rate, and term is set to 5 years. Price on 12/31/2004 is $5, while option price is $5. Then, on 3/31/2005 we want new valuation and since the keyword 'vv' is used, system will look for the forecast 'vvTest 3/31/2005' to find interest, volatility, div. rate, it will look into Prices on 3/31/2005, say it is $5.25 (same option price of $5 will be used a second parameter in BS formula), and it will use term of 4.75 years. Whenever user runs a report that requires valuation system does what is described here. It will use reporting end date for the 'as of' date for VV scenario.
Valuation screen contains additional VTerm column. This can be used for the BS Multiple valuations only. VTerm column allows user to specify term in years per vesting period. Regular BS Multiple requires starting term and then system modifies term by, for example, adding +1 year for each new vesting portion, if the vesting period is per year. Now, it is possible to specify whatever term you want per vesting portion. In addition, forecast record associated with valuation with VTerm column, will be read differently than usual. Usual process is to use row from forecast table based on term. If the term is 4.6 system will use 5th row of forecast data (for interest, volatility, etc). However, this is OK when each new term is at least one year in difference with the previous vesting portion term (regular BS multiple process). But, since user may specify expected term (VTerm) to be 2.5, 3, 3.5, 4 years per each vesting portion (in basic 4yr 25% schedule) - it is impossible to use different volatility, interest rate, for 2.5 and 3 year term since system will use 3rd row in both cases (and 4th row for 3.5 and 4 years). That is how it is with all Stox concluding with 1.24.979. From Stox 1.45.315 system reads the forecast table differently when VTerm and BS Multiple is used - it simply uses first row of forecast data for the first VTerm row specified, second row for the next VTerm row, etc.
New report: Post-vesting Terminations, list options granted From - To that are fully vested and canceled as a result of optionee termination As Of specified date or XX months after the full vest date. At the end this gives a rate (0..1) of total canceled shares divided with total granted shares, to be used as FAS 123R compliant valuation input.
New report: Suboptimal Exercise Factor, shows exercise records with exercise date From - To and lists exercise value vs. option price. It gives factor at the end, used as FAS 123R compliant valuation model input.
System is prepared to accept new valuation inputs required by the FAS 123R:
- post-vesting termination rate, specified per year at the valuation forecasts table, and
- suboptimal exercise factor, specified at the option valuation screen.
Option Plans: added drop-down list to choose termination grace period in Days or Months.
Vesting Schedules - system now recognizes keyword "EOD" in the Description field. If present, system calculates grant expiration date based on the grant Dste, not based on the Vest From Date.
RPT Options Outstanding: report type B (shows records list) is now default report, while type A (shows option cards) can be accessed through radio button.
RPT: Proxy/Exercise Summary - bug fixed in wrong calculation of number of shares unexercisable, and possibly wrong summary calculation.
RPT: Proxy/Outstanding Shares - bug fixed in Outstanding Vested Value.
RPT: Options Canceled/Expired - bug fixed in showing Last Exercise date and Expires On date related to reporting period boundaries.
Bug fixed in calculating shares outstanding related to Vest From Date after the Grant Date.
1.24.946 -> 1.24.979
Options - List View - instead of CardView picture it is now 'Details' button.
Option Agreement report - added text "PLEASE CLICK HERE TO CHANGE THIS TEXT!" in red, so user knows it can modify agreement text.
RPT Price Volatility: added possibility to calculate volatility based on a period longer than one year.
RPT Option Activity Summary - label 'Outstanding as of
Options - Card View, Options Status - Label 'Expires After' instead of 'Expires On'.
Fixed possible wrong calculation of number of shares vested exercisable when grant is terminated, and last exercisable date after the as of date.
RPT Option Activity Summary - bug fixed in calculating range numbers: in certain situations system omits leading 0 when range price is less than $1.
Options Canceled report - shows correct date if expiration falls inside reporting period.
Option Plans - Import and creating new record, added check if no vesting schedules exist.
1.24.809 -> 1.24.946
New report: Exercisable Gain - shows number of shares outstanding/exercisable as of specified date and calculates total gain if exercised on that date.
Option Activity Summary Report - Added weighted averages for shares issued, exercised, canceled, and expired during the reporting period.
Option Plan Summary Report - Shares Available As Of End Date now contain information triggered by Shares Granted, Shares Canceled, Shares Expired, Exercised Swapped, Exercised Traded, and SAR Exercised.
WEB Export available as an automatic scheduled task.
WEB module completed with both XML export/import and native Stox file export/import (performance improved).
Fixed bugs in reports: Options Canceled/Expired, Grants Approaching Expiration, and Option Activity Summary related to as of From date calculations.
ESPP bugs fixed:
- if employee is hired after the offering has started, system uses his/her subscription date in the price comparison, regardless of the offering type.
- check for $25,000 limit procedure now correctly calculates employee's previous purchases
- validating new purchases now correctly points to a portal row with errors
- performance improved in processing new purchases
1.24.719 -> 1.24.809
Options - number of shares expired - fixed bug that did not calculate number of shares expired correctly, in the phase expirations scenarios.
Main - Preferences - Company Logo is now shown at top-left, in accordance with Reports - Settings, and logo size is now fixed to be proportional to the actual printing size.
Options - Save Modified Grant - removed confusing message that says Option ID cannot be modified because there are related exercises. This means just that Option ID alone cannot be modified - all other modifications are saved.
1.24.714 -> 1.24.719
Option Plans - RPT: Option Plan Summary - corrected calculation of shares canceled - it is now combined number of shares canceled/expired
1.24.630 -> 1.24.714
Exercises - Save New or Modified exercise record - fixed bug that overwrites entered number of shares traded for taxes or shares swapped with the pre-calculated values.
New Exercises - calculate number of shares exercisable - fixed bug that in certain situation, mainly in entering historical exercises, may show number of shares exercisable, by not counting already stored exercises after the new exercise date.
1.24.614 -> 1.24.630
Report - set of Fully/Primary Diluted Options Outstanding reports - Shares Outstanding column now reflects number of shares outstanding As Of rpt End Date
Repurchases Import - fixed bug that leaves 'dummy record' used when importing records in the empty database.
Report - Employees - Stock Ownership report - fixed bug that did not calculate correct number of shares owned for Swap exercises
Taxes Import - fixed bug when no Base Taxes and Base Amounts are imported.
Employees - Termination Import - fixed bug if there are contributions to be refunded and refund date (termination date) is before contribution date (not a normal situation) - system did not record refund since refund date must be equal to or after the contribution date
Purchases - Save New Purchases - fixed bug that creates related databases (refunds or contributions) for $0 leftover amount.
1.24.528 -> 1.24.614
Web Export - Main / Maintenance - creates two xml files WEmployees and WActivities to be used with Stox Web module or your corporate web site.
Report - set of Diluted Options Outstanding reports - in a case when there are optionee terminations within reporting period system did not calculate right number of shares outstanding for a 'complete' grant history.
Exercises - fixed bug in losing (reverting back to pre-calculated) Certificate field after saving new or modified exercise record.
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