Switzerland Image
ARTICLE
18 June 2024
Trafigura proposes employee share clawbacks for confidentiality breaches, sources say
External News

Reuters

Employee engagement
Share incentive plans (SIP)
Switzerland

Trafigura proposed share clawbacks for breaches of confidentiality and its code of conduct, as revealed in a letter from CEO Jeremy Weir, following a premature disclosure of losses from its Mongolian oil operations. The clawback policy applies to both current and former employees and could prevent ex-employees from receiving payment for their shares. The proposal is part of regular governance review and is not linked to specific personnel changes or jurisdictions, although recent high-level departures from the company have been noted.

2.5 Mastering Share Sourcing and Sales: Strategies for Effective Employee Share Plans

Setting up an employee share plan involves crucial decisions about sourcing shares and managing sales effectively. Join Ghal and Tom from EQ's Corporate Dealing team, Ben McCarthy from Linklaters and Rob Lyons from M&S as they share their extensive experience in this area.  They’ll cover current trends in sourcing shares, looking at new issue or market purchase, along with key considerations for an issuer and their finance team.  Discover strategies for hedging, managing large share sales and using the Employee Benefit Trust to your advantage. There will be focus on the recent changes to dilution limits in the Investment Association’s Principles of Remuneration.

KEY LEARNINGS:

  • Learn strategies for sourcing shares, planning in advance for your share plan vesting whilst managing headroom and dilution limits.
  • Understand how an issuer can use various approaches across their share plan grants to keep their finance team and employees happy.
  • Discover effective liquidity management techniques to ensure an orderly market at vesting.
Speaker/Author

Ghal Supple, Equiniti
Tom McCulloch, Equiniti
Ben McCarthy, Linklaters
Robert Lyons, Marks and Spencer

Event date
Wednesday, 13 Nov 2024, 13:10 - 14:00
Breakout series
Location
Affiliation Hub 2
Field of Study
Specialized Knowledge
Level
O

2.1 Preparing for the EU's Pay Transparency Directive: 'A Roadmap for Share Plan Professionals'

Are you ready for the future of pay transparency? Prepare for the future of pay transparency with our session on the EU's upcoming 'Pay Transparency Directive.' Set to roll out by June 2026, this legislation will affect all member states. Discover what this means for share plan professionals and gain insights on navigating the challenges ahead.

KEY LEARNINGS:

  • Understand the implications of the EU's 'Pay Transparency Directive' for share plan professionals
  • Identify key challenges and considerations for complying with the new legislation
  • Receive a roadmap to help plan and ensure compliance with the directive.
Speaker/Author

Liz Pierson, Deloitte
Kathryn Dooks, Deloitte
Rosemary Lemon, Hays

Event date
Wednesday, 13 Nov 2024, 13:10 - 14:00
Breakout series
Location
Partnership 1
Field of Study
Specialized Knowledge
Level
A
ARTICLE
13 July 2023
GENEVA PRACTICE ON THE TAXATION OF EMPLOYEE EQUITY INCENTIVE PROGRAMS
external article

SOURCE: Mondaq

Switzerland

 

The article discusses Geneva's evolving tax practices regarding employee stock and option grants, focusing on startups and SMEs. These incentive programs play a crucial role in attracting and retaining talent, and their tax treatment varies, ranging from tax-free capital gains for employees to fully taxable salaries upon exit. The recent practice in Geneva allows valuations as substitutes for FMV, offering tax-free capital gains and enhancing the benefits of share plans for early-stage startups and SMEs without imminent full exits.

Suzanne

Suzanne Voirol, FGE

Switzerland
 

Class of 2018