Solium Salutes Scotiabank, Spin Master and Nokia on GEO Wins
CALGARY, May 2, 2015 – Solium (TSX: SUM), the leading global provider of cloud-enabled software and services for equity administration, financial reporting and compliance, is proud to announce that three of its clients have been recently honored with awards at the Global Equity Organization (GEO) conference in Boston. Scotiabank won the Best Plan Effectiveness award, Spin Master won Best Use of Video Communication and Nokia won Best Use of Employee Share Plans in a Corporate Action.
Scotiabank recognized for plan effectiveness
Based in Toronto, Scotiabank is Canada’s most international bank and is a leading financial services provider in North America, Latin America, the Caribbean and Central America. In 2015, Scotiabank refreshed and re-launched its Employee Share Ownership Plan (ESOP) in Canada to enable more than 35,000 Scotiabankers increase their shareholdings. Although previous plan participation rates were admirable by many standards, Scotiabank recognized the need to align employees as shareholders closer to their corporate goals and objectives. The ESOP program allowed for more Scotiabankers to contribute more to the ESOP program. The program launch was supported by a comprehensive communication program, including a successful two-month awareness campaign. By designing a more comprehensive plan, Scotiabank created additional value for their employees. The new ESOP program, which took effect in January, enables more employees to increase shareholdings in the Bank and share in the Bank’s success in a tangible way.
Spin Master honored for use of video
Also based in Toronto, Spin Master is a leading global children’s entertainment company that creates, designs, manufactures and markets a diversified portfolio of innovative toys, games, products and entertainment properties. When the company went public in 2015, the owners wanted to recognize the incredible contributions of their long-serving employees and initiate a share plan. Spin Master offered one-time grants to over 700 employees in 11 countries. Equity awards had not previously been a part of the company’s compensation practices, so they needed a system to manage the new plan as well as a robust communication strategy, while also adjusting to the new reality of being a publicly traded company. With the help of GuideSpark and Solium, Spin Master created customized participant videos in multiple languages to achieve their objectives.
Nokia praised for use of a share plan in a corporate action
Based in Espoo, Finland, Nokia is a global leader in the technologies that connect people and things. Following the buy-out of Nokia Siemens Networks (NSN) in 2013 and a change in service focus from mobile devices to network infrastructure in 2014, Nokia wanted to ensure that the 50,000 NSN employees joining the Nokia Group were aware of how integral they were to the future success of the company. Nokia’s existing “Share in Success Plan” needed to be revamped, revitalized, and launched as a new plan to accommodate this significant new population. The team beat its target for new program members, attracting employees in every one of the countries in which the plan operates.
Congrats from Solium
“Solium congratulates Scotiabank, Spin Master and Nokia,” said Cameron Hall, EVP, Canadian Client Services and Head of Global Marketing. “We salute our clients for their pursuit of excellence, innovation and creativity. Our client winners this year have shown tremendous focus on their participants, and we are pleased to see them recognized by the global share plan community.”
From April 20 to 22, 2016, the 17th Annual GEO Conference brought together more than 400 equity compensation professionals and experts from around the world to discuss the design, accounting, taxation, compliance, and communication practices related to global share plans.
Solium Capital Inc. (TSX: SUM) provides cloud-enabled services for global equity-based incentive plans administration, financial reporting and compliance. From operation centers in the United States, Canada, the United Kingdom, Europe and Australia, our innovative software-as-a-service (SaaS) technology powers share plan administration and equity transactions for more than 3,000 corporate clients with employee participants in more than 100 countries. Follow us on Twitter @Solium and visit us at solium.com
The Global Equity Organization (GEO) is a member-founded and member-driven not-for-profit organization dedicated to advancing knowledge and understanding of equity compensation worldwide through a global community of well-informed professionals. GEO provides its members – regardless of location, position or affiliation – opportunities to share and learn about the strategic, governance, financial, cultural, legal, tax, communication and administrative issues affecting equity-based employee compensation around the world, from the fundamentals to the latest market intelligence.