System and method for implementing employee stock plans
First Claim
1. A system for implementing at least one employee stock plan comprising:
- a computer-implemented finance system for processing a transaction pursuant to the employee stock plan, the finance system including;
a volatile data storage for storing participant information pursuant to a data transfer from a nonvolatile database of a third party administration system;
an interface system for interacting with a participant regarding requested transactions and enabling the participant to select a response pertaining to the employee stock plan;
a trading system for conducting individual participant transactions on a public exchange;
a communication system that connects the participant to the finance system; and
means for updating the participant information in the volatile data storage according to the selections and transactions made by the participant.
3 Assignments
0 Petitions
Accused Products
Abstract
Tools for implementing employee stock plans including stock options, restricted stock awards and/or and stock purchase plans are provided. The invention comprises a volatile data storage for storing participant information pursuant to a data transfer from a non-volatile database of a third party administrative system; an interface system for interacting with a participant regarding a requested transaction and enabling the participant to select a response pertaining to the employee stock plan; a trading system for conducting individual participant transactions on a public exchange, a communication system that connects a participant to the system; and means for updating the participant information in the volatile data storage according to the selections and transactions made by the participant.
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Citations
62 Claims
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1. A system for implementing at least one employee stock plan comprising:
a computer-implemented finance system for processing a transaction pursuant to the employee stock plan, the finance system including;
a volatile data storage for storing participant information pursuant to a data transfer from a nonvolatile database of a third party administration system;
an interface system for interacting with a participant regarding requested transactions and enabling the participant to select a response pertaining to the employee stock plan;
a trading system for conducting individual participant transactions on a public exchange;
a communication system that connects the participant to the finance system; and
means for updating the participant information in the volatile data storage according to the selections and transactions made by the participant. - View Dependent Claims (3, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 35, 36, 37, 38, 39, 40, 41, 42, 43, 44, 47, 48, 49, 50, 51)
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2. A system for implementing at least one employee stock plan comprising:
a computer-implemented finance system for processing a transaction pursuant to the employee stock plan, the system including;
a volatile data storage for storing participant information pursuant to a data transfer from a non-volatile database of a third party administration;
an interface system for interacting with a participant regarding requested transactions, and for enabling the participant to make selections regarding their respective employee stock plans;
a trading system for conducting individual participant transactions on a public exchange;
a communication system that connects the participant to the system;
means for updating the participant information in the volatile data storage according to the selections and transactions made by the participant; and
a reporting system that enables a corporate employee to run a report based on the participant information. - View Dependent Claims (4, 5, 6, 7, 8, 9, 10)
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21. A method for implementing at least one employee stock plan, comprising:
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processing a transaction pursuant to the employee stock plan via a computer-implemented finance system;
storing participant information in volatile data storage pursuant to a data transfer from a nonvolatile database of a third party administration system;
interacting with a participant regarding a requested transaction, and enabling the participant to select a response pertaining to the employee stock plan;
conducting the participant transaction on a public exchange via a trading system;
updating the participant information in the volatile data storage according to the selections and transactions made by the participant; and
enabling a corporate employer to run a report based on the participant information pursuant to a reporting system.
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22. A system for implementing an employee stock plan, comprising:
a computer-implemented finance system for processing a transaction pursuant to the employee stock plan, the finance system including;
a volatile data storage for storing participant information pursuant to a data transfer from a nonvolatile database of a third party administration system;
an interface system for interacting with a participant regarding a requested transaction; and
a rule system for ascertaining whether the sale price associated with a stock sale is equal to or less than the purchase, option or award price and if so, preventing further processing of the order. - View Dependent Claims (24, 25, 26, 27, 28, 29, 30, 31, 32, 33)
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23. A reporting system for at least one employee stock plan, comprising:
a computer-implemented finance system for processing a transaction pursuant to the employee stock plan, the finance system including;
a volatile data storage for storing participant information pursuant to a data transfer from a nonvolatile database of a third party administration system;
an interface system for interacting with a corporate employer; and
a reporting system that enables the corporate employer to run a report based on the participant information and in accordance with at least one respective client profile.
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34. A reporting method for at least one employee stock plan, comprising:
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storing participant information in a volatile data storage at a computer-implemented finance system pursuant to a data transfer from a nonvolatile database of a third party administration system to the finance system;
interacting with a participant regarding a requested transaction;
processing a transaction pursuant to the participant request; and
running a report based on the participant information and in accordance with an employer profile pursuant to a computer-implemented reporting system.
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45. A method for use by a financial services organization in administering at least one employee stock plan, comprising:
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storing participant information in a volatile data storage of a computer-implemented finance system pursuant to a data transfer from a nonvolatile database of a third party administration system to the finance system;
interacting with a participant regarding a requested transaction via a computer-implemented interface;
processing a transaction pursuant to a participant request;
enabling a participant to make an employee stock plan selection via the interface; and
updating the participant information in the volatile data storage according to the selection made by the participant.
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46. A system for use by a financial services organization in performing block trades for at least one employee stock plan, comprising:
a computer-implemented finance system for processing a transaction pursuant to the employee stock plan, the finance system including;
a volatile data storage for storing participant information pursuant to a data transfer from a nonvolatile database of a third party administration system;
a computer-implemented interface system for interacting with a participant regarding requested transactions, and for interacting with at least one user associated with the financial services organization to perform block trades on behalf of the participant for shares acquired by the participant via the at least one employee stock plan;
a communication system that connects the participant and the user to the finance system; and
means for updating the participant information in the volatile data storage according to the block trades performed.
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52. A method for use by a financial services organization in performing block trades for at least one employee stock plan, comprising:
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storing participant information in a volatile data storage in a computer-implemented finance system pursuant to a data transfer from a nonvolatile database of a third party administration system to the finance system;
interacting, via a computer-implemented interface, with a participant regarding a requested transaction, and with at least one user associated with the financial services organization to perform block trades on behalf of the participant for shares acquired by the participant pursuant to the employee stock plan;
processing a transaction pursuant to the employee stock plan at the finance system; and
updating the participant information in the volatile data storage according to the block trades performed.
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53. A check and journal process system associated with a system for administering at least one employee stock plan, comprising:
a computer-implemented finance system for processing a transaction pursuant to the employee stock plan, the finance system including;
a volatile data storage for storing participant information pursuant to a data transfer from a nonvolatile database of a third party administration system;
an interface system for interacting with a participant regarding requested a transaction, and for interacting with at least one user associated with the financial services organization to enable the user to review trade entries for the employee stock plan, and in response thereto, enter an approved or disapproved status for at least one of an associated check process and an associated journal process; and
means for linking the check and the journal processes such that an entry made by the user for the journal is automatically carried over to a related entry for the check. - View Dependent Claims (54, 55, 56, 57, 58, 59)
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60. A method for providing a check and journal process for administering at least one employee stock plan, comprising:
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storing participant information in a volatile data storage of a computer-implemented finance system pursuant to a data transfer from a nonvolatile database of a third party administration system to the finance system;
interacting, via an interface, with at least one user associated with a financial services organization to enable the user to review trade entries for the employee stock plan, and in response thereto, enter an approved or disapproved status for at least one of an associated check and journal;
processing a transaction pursuant to the employee stock plan at the finance system; and
linking the check and the journal so that an entry made by the user in the journal is automatically carried over to a related entry for the check.
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62. The method of claim 61, further comprising:
updating the participant information according to at least one of the check and the journal process.
Specification