Siebert Corporate Services to Offer Carver Edison's Cashless Participation™ for Stock Plan Services
July 30 2020 - 09:29AM
Business Wire
Siebert Corporate Service’s new partnership will support its
stock plan clients and allow for future growth in equity
compensation.
Last week, Siebert Financial Corp. (NASDAQ: SIEB) (“Siebert”)
and Carver Edison announced a new partnership to offer Cashless
Participation to Siebert’s stock plan clients. This partnership
provides current and future Siebert Corporate Services clients a
powerful new tool in stock plan participation. The Cashless
Participation will help employees maximize their contributions to
their company-sponsored stock plans without additional payroll
deductions. Siebert's clients can configure Cashless Participation
to include share utilization and compensation expense limits.
Controlling shareholder and board member of Siebert, Gloria E.
Gebbia, discussed the significance of this new partnership,
“Corporate Services is a recently acquired business line for
Siebert and will be key for our company going forward. We are
constantly looking to improve our technology to support the needs
of our partners and clients. This partnership with Carver Edison is
a testament to our focus on growing our Corporate Services in the
equity compensation industry while benefiting our current stock
plan clients.”
Siebert Corporate Services is a global offering that provides
premiere level equity compensation management and technology
solutions to public companies. The Carver Edison Cashless
Participation partnership will be available to public companies
that have partnered with Siebert for their equity compensation
needs. Furthermore, the partnership allows for Cashless
Participation with any new public companies that partner with
Siebert in the future.
Carver Edison Founder and CEO Aaron Shapiro explained the
significance of this new partnership, "Every day, we work to help
companies increase the compensation of their global workforce,
while creating value for shareholders. Partnering with Siebert to
deliver Cashless Participation to their stock plan clients expands
our ability to accomplish this."
A new feature will allow a portion of the proceeds from Cashless
Participation for Siebert stock plan clients to be donated to a
charity of the issuer's choice through a newly created Cashless
Participation philanthropic plan.
"Partnering with Carver Edison’s groundbreaking technology will
further enhance our growth, while providing more value to our
corporate clients," said Eric Tassell, SVP of Siebert Corporate
Services. “Cashless Participation is a powerful new way to maximize
purchase plan benefits and promote employee ownership for our
clients and their employees worldwide. I’m very excited about this
partnership and what it means for our current and future
clients."
For information about Siebert Corporate Services visit
Siebert.com/corporate-services.
About Siebert Financial Corp.
Siebert Financial Corp. is a holding company that conducts its
retail brokerage business through its wholly-owned subsidiary,
Muriel Siebert & Co., Inc., which became a member of the New
York Stock Exchange ("NYSE") in 1967 when Ms. Siebert became the
first woman to own a seat on the NYSE and the first to head one of
its member firms. The company conducts its investment advisory
business through its wholly-owned subsidiary, Siebert AdvisorNXT,
Inc., a registered investment advisor, and its insurance business
through its wholly-owned subsidiary, Park Wilshire Companies, Inc.,
a licensed insurance agency. Siebert conducts operations through
its wholly-owned subsidiary, Siebert Technologies, LLC., a
developer of robo-advisory technology. Siebert also offers prime
brokerage services through its fifth wholly-owned subsidiary, WPS
Prime Services, LLC, a broker-dealer registered with the SEC.
Siebert is headquartered in New York City with offices throughout
the continental U.S. More information is available at
www.siebert.com.
About Carver Edison
Carver Edison is a New York City-based financial technology
company committed to revolutionizing Employee Stock Purchase Plans
(ESPPs). Carver Edison works with public companies to increase
stock plan participation rates through its Cashless Participation™
technology and education platform, Carbon™. The company is backed
by leading fintech entrepreneurs and executives, including Eli
Broverman, co-founder of Betterment, and Jeff Cruttenden,
co-founder of Acorns. Its Cashless Participation technology was
recognized by Fast Company Magazine as a World Changing Idea.
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version on businesswire.com: https://www.businesswire.com/news/home/20200730005290/en/
Investor Relations: Siebert Financial Corp. John T. Gebbia (310)
432-2196
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