Webinar designed to demystify FAS 123R valuation and expensing for non-public companies.
Needham, MA – March 30, 2007 — Two Step Software, Inc., a leader in corporate governance and stock plan administration solutions, today announced that it has teamed up with nationally recognized experts from FAS123 Solutions, LLC and iComp LLC for an insightful webinar that will discuss the key questions non-public companies must be able to answer with respect to FAS 123R valuation and expensing. Unlike most FAS 123R presentations that focus exclusively on how the new regulations apply to publicly-held companies, this seminar will address how certain aspects of FAS 123R uniquely apply to non-public companies. The webinar is designed to make the audit process easier and will address key issues facing chief financial officers including the pros and cons of the Black-Scholes formula, how to determine key valuation inputs, use of forfeiture rates, and managing the related corporate governance documentation.
The webinar, entitled “Straight Talk on FAS 123R Compliance: Five Things Your Auditors Will Want to Know,” is a 60-minute live, online presentation and will be held Wednesday, May 2, 2007 at 1:00 pm EST. Designed specifically for venture-backed and other privately-held companies, this presentation will focus on five key questions that auditors have begun to address in the context of the new FAS 123R regulations which became effective January 1, 2006 for most non-public companies.
“In this age of Sarbanes-Oxley, option backdating scandals and new stock option expensing rules, CFOs and controllers at privately-held companies can anticipate greater scrutiny from their auditors,” says Gary D. Levine, President and Founder of Two Step Software, Inc. “Today, financial executives at non-public companies are faced with unique questions and are looking to gain a greater understanding of how FAS 123R applies to them.”
For more details or to register for the event, visit: www.twostep.com/faswebinar or call (800) 223-8900.
About The Speakers
Peter Suzman, Managing Partner of FAS123 Solutions, LLC has over ten years of hands-on experience in the compensation and benefits industry. As a leading authority on FAS 123, Mr. Suzman has written, spoken and consulted on legal, accounting, tax and benefits aspects of plan design, option valuation and FAS 123, including presenting at the NASPP annual conference. He also has extensive practical experience with FAS 123, having performed complete FAS 123 reporting (including parameter estimation) over multiple years for over 300 public companies. Peter was the primary designer for the FAS 123 and FAS 128 modules for Sapphire, Smith Barney’s stock administration software and was responsible for FAS 123 reporting for over 150 clients at Smith Barney over a four year period. He graduated from Harvard College.
Brock Benson is the Founding Partner of iComp LLC and heads its valuation research team. Mr. Benson played a key role in the development of the methodology employed by Equity Methods, an employee stock option valuation firm recently acquired by Merrill Lynch. Additionally, he has experience with PriceWaterhouseCoopers where he was responsible for developing and auditing the methodology employed under FAS 123R. Brock has provided equity and firm valuation services to more than fifty Fortune 500 companies and several of the world’s largest private equity and venture capital funds. A frequent speaker at CFO conferences in the West coast, he addresses top-of-mind issuing facing venture capital firms including IRS Sec. 409A and FAS 123R. Mr. Benson was trained in the Arizona State University economics doctoral program and holds a Masters degree in statistics.
Gary D. Levine is the President and Founder of Two Step Software, Inc. and has worked with hundreds of privately-held companies and law firms over the past decade on matters related to stock plan administration and corporate governance. Mr. Levine started Two Step Software in 1995 following the sale of Pilot Software, Inc. where he was General Counsel. Before Pilot, Gary was a corporate and securities attorney at Hutchins & Wheeler prior to the 2003 merger with Nixon Peabody where he specialized in private equity and venture capital work. Mr. Levine received his JD from the Boston College Law School and his Masters from the MIT Sloan School of Management with a concentration in Finance. A recognized author and speaker on topics related to capitalization management and corporate governance, Mr. Levine is the author of the Blog “Capitalization Matters” at: http://www.capitalizationmatters.com/.
