Sally is an executive of Company ABC. Sally is a citizen of the United States and resides in New York City.
On January 1, 2021, Sally receives 1,000 Restricted Stock Units that vest fully in four years on December 31, 2024.
January 1, 2022
Sally moves to the
United Kingdom for an assignment.
Sally relocates to France.
January 1, 2023
On December 31, 2024, the units vest
when the stock price is at $100, therefore netting $100,000 of income.
Sally will need to have withholdings in the following jurisdictions:
United States, New York State, and New York City
The executive is a citizen of the United States and works in New York until 1/1/2022. She spends 25% of her service period in New York City.
France
The executive works in France from 1/1/2023 – 1/1/2025. She spends 50% of her service period in France.
United Kingdom
The executive works in London, UK from 1/1/2022 – 1/1/2023. She spends 25% of her service period in the UK.
Company ABC needs to quickly calculate all tax withholdings sourced to all jurisdictions and file an SEC Form 4 (Statement of Changes in Beneficial Ownership) to document the ultimate shares settled.
By leveraging a fully automated solution through the use of API technology, Company ABC receives accurate income reporting and withholding information parceled out by location, in an easy-to-read report.
Audit reports illustrate the math, making it easier to communicate this process with Sally and other
company executives.
