1.67.981 -> 1.88.411

We have added multiple option plan selection as a report input to the following reports:
Options Granted, Options Canceled/Expired, Option Valuation, Options Outstanding, Options By Price, Diluted Options Outstanding, Expense Allocation, Option Activity Summary, Options Summary, Post-vesting Terminations, Unvested Forfeitures, Aggregate Intrinsic Value.
This allows you to group report results by more than one option plan.

Starting from this release we have support and maintenance dates shown on the About screen.

Expense Allocation Black-Scholes Multiple report has been upgraded to address expense adjustments upon vesting.


1.67.947 -> 1.67.981

There are two new reports that show details behind Aggregate Intrinsic Value calculations found on the Option Activity Summary report:

Aggregate Intrinsic Value report for shares outstanding and exercisable as of report end date.

Intrinsic Value report for shares exercised during the reporting period.
We have also improved intrinsic value calculation to use correct fair market values on each exercise date inside reporting period.


1.67.919 -> 1.67.947

Starting from Stox 1.67.947 there is a separate Option Vesting Details table.
It stores exact number of shares to vest per each vest date. Vesting schedule inside grant record defines vesting periods with availability (vest type) like quarterly or monthly, which means there are several vest dates inside one such vesting period.
One record in the Option Vesting Details table stores number of shares to vest per each individual vest date.
This table is also a support to StoxEMPOWER web xml export from the Maintenance screen.

There are new allocation methods implemented for the Expense Allocation BSS/Bin report:

Vest Line - calculates expenses proportionally to the number of shares vested during reporting period;

Straight Line - has been modified according to the rule in paragraph 42 of FAS 123R, which states, "The amount of compensation cost recognized at any date must at least equal the portion of the grant-date value of the award that is vested at that date."

Plain Straight Line - divides total valuation amount evenly across the whole vesting period, and it corresponds to the Straight Line method from previous Stox releases.


1.67.617 -> 1.67.919

There are updates to the set of Dilution reports to address requirements for Unamortized Expenses. It is now included in the report, and not required as a report input. Please note that you need to run Expense Allocation report for the same period first, and then run the Diluted Options Outstanding report in order system to pick up correct expenses.

There are updates to the Expense Allocation and Dilution reports in order to allow you to include all vested and outstanding grants during the reporting period. This is for easier audit. Also, default sort order has been set to sort by option id for the same purpose.

There is a new system task in Options that allows you to specify valuation per share instead of calculating it. Like most of the system tasks this works on the found set of grant records, so it is possible to specify same valuation per share for the records with same grant date.

There is a new system task in Options that allows you to specify valuation per share for RSPs - to be equal to option price or FMV on grant date, which will allow you to use same Expense Allocation report like for regular grants. Please note that you still need to attach forecast record with RSP grants on the valuation screen.

There is new report to show comprehensive Exercise Details.

There is a new feature in the option valuation to allow you to specify option term smaller than full vesting period. You need to specify keyword FET in the Valuation Notes on the option valuation screen and save valuation parameters.

There is a new feature in the forecasts table to allow you to specify keyword FPS in the Forecast Description field and system will then apply unvested forfeiture rate in the valuation per share and use it that way accross expense allocation reports.

There is a new feature related to the espp refunds that will prevent specified contribution records from being refunded. You need to add keyword NR in the contribution Notes field.

There are updates to the Options Summary report that allows you to select only active (non-terminated) employees.

There are updates to the Options Outstanding report that allows you to select only specific employee to run report for.

We enhanced the Post-vesting Terminations report to take exercised shares into account when calculating values.


1.67.115 -> 1.67.617

This release brings interface to our new product StoxEMPOWER, which allows you to host your data over the Internet, so your employees can access on-line and see its options status, for example.

There are updates to the ESPP module of the Stox, in purchase plans you can define number of fractions system will use to round shares number in share purchases.

There are updates in Insider reporting Forms 3,4,5 and its XML Edgar On-line preparation.

Stox now have Black-Scholes Value Implied Expected Term Method implemented for the binomial (lattice) valuation model.

Black-Scholes valuation allows you to specify free expected term value if you add keyword FET in the Valuation Notes field on the Option Valuation screen. This is to be used in special cases where your expected term is lower than full vesting period.

Changes in the Option Activity Summary report to use Option Price as exercise price and also fair market value at grant date instead of a calculated valuation (for restricted stock purchases, mostly).


1.67.027 -> 1.67.115

This release brings improved precision in our binomial valuation model. In addition, Option Valuation report shows expected term output more accurately.

There has been improvement in the set of Diluted Options Outstanding reports, which now reflects grant exercise history completely accurate.

There are changes in the New Grants procedure on ISO/Matching NQ shares - new grant details screen now shows matching NQ shares along with ISO shares.

Exercisable Gain report can be sorted and grouped by Employee Name now.


1.46.827 -> 1.67.027

This release brings modifications to the Expense Allocation reports. You can now run these reports for the range of grant dates. Previously, all grant records have been processed.

Expense Allocation BSS/Binomial report has been modified to calculate expense adjustments upon option vesting date. This should be used to true-up expenses calculated using the unvested forfeiture rate estimate.
An Export button has been added as well.

Option Activity Summary report has been modified for 10Q reporting in the non-vested roll-forward section - it now includes additional lines for shares granted and vested inside reporting period.


1.46.605 -> 1.46.827

This release brings modifications to the report formerly known as Expense Allocation APB25, which now works and calculates expenses both for discounted stock options and restricted stock, using intrinsic value on the grant date.

Option Activity Summary report has been modified for 10Q reporting on restricted stock - there is a new check box that will report only Restricted Stock.

Options Canceled/Expired report has Export button added.


1.46.026 -> 1.46.605

This release brings Auto Backup feature, placed at the system Preferences screen. If checked, backup will be created upon system exit. Backup is date and time stamped and there an external program called Stox Forensic, which can be used to restore system backup.

There are updates at the Unvested Forfeitures and Post-Vesting Terminations reports, which now gives yearly forfeiture rate at the end of report.

Edgar OnLine form filing is updated with external program called Edgar Submissions, placed in the Export folder, which creates xml file for direct upload to the Edgar site.


1.45.995 -> 1.46.026

This release brings updates to the Expense Allocation reports, with possibility to use estimated forfeiture rate on unvested shares.

There is a new report Unvested Forfeitures, which helps you to estimate forfeiture rate of unvested shares.

Forecast table allows you to specify Unvested Forfeiture rate, to be used in Expense Allocation reports, and Post-vesting Termination Rate, to be used as binomial lattice valuation model input.

Option Activity Summary report is updated to meet full FAS123R requirements for 10Q reporting on nonvested shares.

Option Valuation report - updated to provide details for weighted averages shown at the Option Activity Summary report. It is possible to specify reproting period From-To dates, and independent Granted As Of date. List-box allows you to select: Outstanding, Unvested, Vested, Granted, Canceled, Expired, Exercised, Outstanding Unvested, Outstanding Vested, Forfeited Unvested, and Granted Unvested. All of these as of report end date OR inside period from-to.

There are Year End Package reports added, which list year activities, stock options status, and espp history.


1.45.971 -> 1.45.995
Vesting Schedules - added vesting period duration in days or months + days. In addition to previously available months + weeks vesting period duration (mm.ww), we have added mm.ddd vesting period duration. In order to use days and not weeks you need to add keyword DV in the vesting schedule Description field. Example: 0.256 in the 'Months' column, and keyword DV in the Description field, means that vesting period will be 256 days long. If you specify 3.021 it will be interpreted as 3 months and 21 days. Please note that if you do not put keyword DV in the Description field, system will use mm.ww coding, and 3.021 will be 3 months and 2 weeks, since system will use only two digits after the decimal point, while for days (with DV keyword) it will use three digits.

Purchase Plans - there are two new Limit type: Per Offering All, and Per Offering Employee. If you specify Per Offering All, you need to enter Share Limit For All, and that is maximal number of shares purchased during the offering period. Previously, there was Per Purchase All limit type only, which limits number of shares purchased per one purchase date. Second limit type, Per Offering Employee, requires you to specify share limit in the employee record, and it is also limit per offering. Please note that if share limit fields are empty of equal to 0 the limit will not be applied.

Purchase Plans - there is new Price Basis - Lower w/higher. Previously, existing price basis was Lower only, which means that purchase price is lower of price at offering and at purchase date, with possible discount applied. For employees subscribed after offering begin date, system always used price at subscription date and compared it with price at purchase date.
With this new price basis - Lower w/higher, if employee is subscribed after the offering begin date, system will find higher of price at offering begin date and price at subscription date, and compare that value with the price at purchase date.

Stock Options Ledger Report now allows you to exclude restricted stock purchases from the report.


1.45.945 -> 1.45.971
Option Activity Status report - added Intrinsic Values calculation based on report's end date price; added Non-vested roll-forward activities, with weighted averages of gratn date fair values and weighted average remaining years to vest. These additions are to be used for FAS 123R 10Q compliant report.

Option Valuation report - As Of check-box plus list-box to select Outstanding, Unvested, Vested, Granted, Canceled, Expired, Outstanding Unvested, Outstanding Vested (as of report end date OR inside period from-to). This is to be used as details for the summaries shown at Option Activity Summary report.


1.45.919 -> 1.45.945

Option Valuation screen - added check box Do Not Calculate valuation that allows you to effectively disable option valuation calculation at some ppoint of time and to use currently stored (or imported) valuations.

Option Valuation report - As Of check-box plus list-box to select Outstanding, Unvested, Outstanding Unvested, Outstanding Vested (as of report end date)

Export button added to reports: Option Valuation, Expense Allocation BSS/Bin, and BSM.


1.45.702 -> 1.45.919

This release includes new Stock Options Ledger report where you may see details for options granted, with vesting period details, and exercise activity, sorted by activity date. Report also shows cancellation and expiration activity, if occures within reporting dates.

Transactions - Find Transferrable transactions - Added as a Scheduled task, plus ask for it after new exercise for the insider has been created.

Forms - Deemed Execution date added to forms and transactions.

Bug fixes in possibly incorrect vesting calculation for monthly vesting type when vesting period falls on month end.

Bug fixes in slightly incorrect calculation of Prior Amortized expenses (period off by one day). Affects Straight Line model for BSS/Binomial, then Normal model in BS Multiple, and Straight Line model in APB25.


1.45.605 -> 1.45.702

In addition to the FAS 123R compliant binomial lattice valuation model, our latest Easy Options/ESPP Custom (tm) software release includes Expense Allocation per division/department - there is a button Sort by Custom data field, which breaks expenses into groups with same Custom Data field. If user labels Custom Data field at the Options - System Tasks, say, Division, and update all grant records with Division data, they can run Expense Allocation as usual, and after the report has been generated they may click on Sort by Division and press Preview button to see records grouped by Division.



1.45.515 -> 1.45.605

Latest Stox offers improved and fully automatic system upgrade procedure.

From release 1.45.605 Stox offers FAS 123R compliant lattice valuation model. We have improved our binomial valuation model, which exists from year 2001, to accept two new valuation parameters: suboptimal exercise factor and post-vesting termination rate.

Please review valuation screen, request an upgrade if you are our current customer, or visit our downloads page and request a fully functional product demo.

Granting Options that vest at the month-end dates - system now senses if end of month is used as vesting period date and calculates next vest dates accordingly.

Changed system behavior on cancel dates - system now treats shares canceled exactly as of cancel date, not one day after.



1.45.315 -> 1.45.515

Latest Stox 1.45.515 offers FAS 123R compliant lattice valuation model. We have improved our binomial valuation model, which exists from year 2001, to accept two new valuation parameters: suboptimal exercise factor and post-vesting termination rate.

Please review valuation screen, request an upgrade if you are our current customer, or visit our downloads page and request a fully functional product demo.

RPT Options Outstanding: report type C added - shows summaries only for records grouped by: option date, plan name, employee name, option type, option price, or vesting schedule.

RPT Option Valuation - added Outstanding/As Of check-box. If set, system finds and shows number of shares outstanding as of reporting end date, and calculates total valuation based on the outstanding shares number.



1.24.979 -> 1.45.315

Variable Valuation - it is possible to specify Forecast with a keyword 'vv' in its name, and with starting valuation date at the end of forecast name. Example: "vvTest 12/31/2004". Then, as a term, user has to specify 'starting term', since system will decrease 'term' whenever new valuation is performed. This also requires that new forecast record exists, on the new valuation date. At the end, we would need price from the Prices table as of valuation date. Example: on 12/31/2004 we have set forecast 'vvTest 12/31/2004' with interest, volatility, div. rate, and term is set to 5 years. Price on 12/31/2004 is $5, while option price is $5. Then, on 3/31/2005 we want new valuation and since the keyword 'vv' is used, system will look for the forecast 'vvTest 3/31/2005' to find interest, volatility, div. rate, it will look into Prices on 3/31/2005, say it is $5.25 (same option price of $5 will be used a second parameter in BS formula), and it will use term of 4.75 years. Whenever user runs a report that requires valuation system does what is described here. It will use reporting end date for the 'as of' date for VV scenario.

Valuation screen contains additional VTerm column. This can be used for the BS Multiple valuations only. VTerm column allows user to specify term in years per vesting period. Regular BS Multiple requires starting term and then system modifies term by, for example, adding +1 year for each new vesting portion, if the vesting period is per year. Now, it is possible to specify whatever term you want per vesting portion. In addition, forecast record associated with valuation with VTerm column, will be read differently than usual. Usual process is to use row from forecast table based on term. If the term is 4.6 system will use 5th row of forecast data (for interest, volatility, etc). However, this is OK when each new term is at least one year in difference with the previous vesting portion term (regular BS multiple process). But, since user may specify expected term (VTerm) to be 2.5, 3, 3.5, 4 years per each vesting portion (in basic 4yr 25% schedule) - it is impossible to use different volatility, interest rate, for 2.5 and 3 year term since system will use 3rd row in both cases (and 4th row for 3.5 and 4 years). That is how it is with all Stox concluding with 1.24.979. From Stox 1.45.315 system reads the forecast table differently when VTerm and BS Multiple is used - it simply uses first row of forecast data for the first VTerm row specified, second row for the next VTerm row, etc.

New report: Post-vesting Terminations, list options granted From - To that are fully vested and canceled as a result of optionee termination As Of specified date or XX months after the full vest date. At the end this gives a rate (0..1) of total canceled shares divided with total granted shares, to be used as FAS 123R compliant valuation input.

New report: Suboptimal Exercise Factor, shows exercise records with exercise date From - To and lists exercise value vs. option price. It gives factor at the end, used as FAS 123R compliant valuation model input.

System is prepared to accept new valuation inputs required by the FAS 123R:
- post-vesting termination rate, specified per year at the valuation forecasts table, and
- suboptimal exercise factor, specified at the option valuation screen.

Option Plans: added drop-down list to choose termination grace period in Days or Months.

Vesting Schedules - system now recognizes keyword "EOD" in the Description field. If present, system calculates grant expiration date based on the grant Dste, not based on the Vest From Date.

RPT Options Outstanding: report type B (shows records list) is now default report, while type A (shows option cards) can be accessed through radio button.

RPT: Proxy/Exercise Summary - bug fixed in wrong calculation of number of shares unexercisable, and possibly wrong summary calculation.

RPT: Proxy/Outstanding Shares - bug fixed in Outstanding Vested Value.

RPT: Options Canceled/Expired - bug fixed in showing Last Exercise date and Expires On date related to reporting period boundaries.

Bug fixed in calculating shares outstanding related to Vest From Date after the Grant Date.



1.24.946 -> 1.24.979

Options - List View - instead of CardView picture it is now 'Details' button.

Option Agreement report - added text "PLEASE CLICK HERE TO CHANGE THIS TEXT!" in red, so user knows it can modify agreement text.

RPT Price Volatility: added possibility to calculate volatility based on a period longer than one year.

RPT Option Activity Summary - label 'Outstanding as of ' changed to 'Outstanding before '.

Options - Card View, Options Status - Label 'Expires After' instead of 'Expires On'.

Fixed possible wrong calculation of number of shares vested exercisable when grant is terminated, and last exercisable date after the as of date.

RPT Option Activity Summary - bug fixed in calculating range numbers: in certain situations system omits leading 0 when range price is less than $1.

Options Canceled report - shows correct date if expiration falls inside reporting period.

Option Plans - Import and creating new record, added check if no vesting schedules exist.


1.24.809 -> 1.24.946

New report: Exercisable Gain - shows number of shares outstanding/exercisable as of specified date and calculates total gain if exercised on that date.

Option Activity Summary Report - Added weighted averages for shares issued, exercised, canceled, and expired during the reporting period.

Option Plan Summary Report - Shares Available As Of End Date now contain information triggered by Shares Granted, Shares Canceled, Shares Expired, Exercised Swapped, Exercised Traded, and SAR Exercised.

WEB Export available as an automatic scheduled task.

WEB module completed with both XML export/import and native Stox file export/import (performance improved).

Fixed bugs in reports: Options Canceled/Expired, Grants Approaching Expiration, and Option Activity Summary related to as of From date calculations.

ESPP bugs fixed:
- if employee is hired after the offering has started, system uses his/her subscription date in the price comparison, regardless of the offering type.
- check for $25,000 limit procedure now correctly calculates employee's previous purchases
- validating new purchases now correctly points to a portal row with errors
- performance improved in processing new purchases


1.24.719 -> 1.24.809

Options - number of shares expired - fixed bug that did not calculate number of shares expired correctly, in the phase expirations scenarios.

Main - Preferences - Company Logo is now shown at top-left, in accordance with Reports - Settings, and logo size is now fixed to be proportional to the actual printing size.

Options - Save Modified Grant - removed confusing message that says Option ID cannot be modified because there are related exercises. This means just that Option ID alone cannot be modified - all other modifications are saved.


1.24.714 -> 1.24.719

Option Plans - RPT: Option Plan Summary - corrected calculation of shares canceled - it is now combined number of shares canceled/expired


1.24.630 -> 1.24.714

Exercises - Save New or Modified exercise record - fixed bug that overwrites entered number of shares traded for taxes or shares swapped with the pre-calculated values.

New Exercises - calculate number of shares exercisable - fixed bug that in certain situation, mainly in entering historical exercises, may show number of shares exercisable, by not counting already stored exercises after the new exercise date.


1.24.614 -> 1.24.630

Report - set of Fully/Primary Diluted Options Outstanding reports - Shares Outstanding column now reflects number of shares outstanding As Of rpt End Date

Repurchases Import - fixed bug that leaves 'dummy record' used when importing records in the empty database.

Report - Employees - Stock Ownership report - fixed bug that did not calculate correct number of shares owned for Swap exercises

Taxes Import - fixed bug when no Base Taxes and Base Amounts are imported.

Employees - Termination Import - fixed bug if there are contributions to be refunded and refund date (termination date) is before contribution date (not a normal situation) - system did not record refund since refund date must be equal to or after the contribution date

Purchases - Save New Purchases - fixed bug that creates related databases (refunds or contributions) for $0 leftover amount.


1.24.528 -> 1.24.614

Web Export - Main / Maintenance - creates two xml files WEmployees and WActivities to be used with Stox Web module or your corporate web site.

Report - set of Diluted Options Outstanding reports - in a case when there are optionee terminations within reporting period system did not calculate right number of shares outstanding for a 'complete' grant history.

Exercises - fixed bug in losing (reverting back to pre-calculated) Certificate field after saving new or modified exercise record.