The Trustee Team, who are totally independent, comprises multi-disciplined individuals specifically brought together from different areas of the business. The team provides the highest standards of corporate governance and a broad spectrum of expertise; playing a vital role over ownership and control of assets held within the Plan.
Working closely with HMRC, the Trustees are able to provide a service based on the ethos of sharing best practice across their client base.
ESPTL currently acts as Trustee for more than 90 Share Incentive Plans, with assets in excess of £1.9 billion. Based on ifs Proshare figures (May 2016) it is the UK market leader, covering 57% of market participants.
The principal role of the Trustees in Share Incentive Plans is to:
- Ensure that the Plan abides by the Trust Deed and Rules and in line with governing legislation (Schedule 2, ITEPA 2003)
- Look after the interests of participating employees, ensuring fairness
- Instruct the Plan Administrators in share awards and purchases
- Facilitate participant voting in relation to Annual General Meetings
- Distribute dividends
- Oversee all Plan communications, cash reconciliations and share reconciliations
- Sanction any appropriate adjustments
- Provide advice and guidance in relation to Corporate Actions and to receive Participants’ instructions
- Provide Form 39 Share Incentive Plan Tax Returns and prepare and lodge SA900 Trust and Estate Tax returns