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Argentina: Partial Foreign Exchange Deregulation and Implications for Stock Options / ESPPs

By , and 3 Mins Read

In Brief Argentina has recently relaxed its currency control restrictions for individuals, which should allow optionees to exercise their stock options other than through a cashless exercise method, as it is now possible to remit funds out of Argentina to purchase foreign shares. There has not been a similar relaxation of the exchange control restrictions for local entities. Consequently, it appears that there are still substantial limitations on offering Employee Stock Purchase Plans (ESPP) to…

Think Twice Before Changing your ESPP Mid-Offering

By and 6 Mins Read

The question of mid-offering period changes to employee stock purchase plans (ESPPs) has been coming up with unusual frequency, in some cases due to stock price volatility causing an earlier-than-expected shortage of shares and in others due to companies desiring to quickly make their plans more competitive in the ongoing battle for talent. Impact of a Modification of a Section 423 ESPP Option But a mid-offering change to the terms of a Code[1] Section 423…

ESPP in China…Should You Dare?

By 6 Mins Read

One question that I have encountered almost weekly in the last year is whether companies should offer their ESPP in China.  The companies that ask this question usually have already registered their equity incentive plan(s) with the China State Administration of Exchange (SAFE) and are granting options and/or RSUs to employees in China.  Typically, they have held off on registering the ESPP due to administrative concerns and the fact that a SAFE registration used to…