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70588EQUS Vertex Case Study Web Version.1

  Vertex Case Study  

Today, with more than 4,000 customers in over 130 countries, Vertex software enables tax determination, compliance and reporting, tax data management and document management with powerful pre-built integrations to core business applications used by most companies, particularly those applications that have a significant impact on global commerce.

Vertex has pioneered tax technology for over 40 years. They began electronic delivery of tax rules in the early 1980s and they first sold transaction tax processing software in 1982.

Simultaneous and seamless IPO execution and equity compensation program implementation for a leading tax technology company

Vertex wanted a provider that could not only handle their IPO and equity compensation services (ECS), but also to launch them simultaneously.

The Challenge

With the goal of simultaneously rolling out an IPO, equity awards and establishing an employee stock purchase plan (ESPP), Vertex set out an ambitious goal with many moving pieces, including:

  • Implementation timing – Vertex was driven to have their equity platform open to participants at the same time as their IPO.
  • Expanded ECS services – Equity compensation services included long-term incentive plans (LTIPs) and employee stock purchase plans (ESPPs).
  • Complex IPO process – requirements included original grants with new grant date and split awards.
  • Accuracy – Increased complexity could not sacrifice getting things done right. For example, we calculated import files and awards to provide accurate results.

“I very much appreciated your approach of best practice and common sense, while helping to educate us at the same time. Pointing out when our course of action may have unintended negative consequences and counseling us of the pros/cons as we cycled through decisions.”


70592EQUS Vertex Case Study Web Version3


The Solution

Vanguard, an EQ partner, was already providing 401(k) services to Vertex. In their discussions, Vanguard identified a need that they knew EQ would be able to help with. As Vertex discovered the scope of EQ solutions available to them, their IPO offering expanded into an inclusive ECS plan that could potentially reward nearly everyone in the company. By working together with Vertex, we were able to provide a comprehensive ECS platform (including LTIPs and ESPP) and IPO transfer agent services – thereby saving both time and expense of multiple vendors.


The Result

Vertex needed knowledgeable subject matter experts and expertise in the ECS and IPO space. As we went through decision making process together, Vertex asked for best practices, which EQ provided, tailor-made to their specific needs. Vertex wanted to go live with their IPO and ECS at the same time and we got them there.

“Thank you all for the work you have done for us and helping us making this day one that will be remembered by all of our employees!”


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