Siebert Corporate Services to Offer Carver Edison's Cashless Participation™ for Stock Plan Services
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 wth 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 (News - Alert). 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.
The New Era of Wireless Access and the Great Disconnect
Privacy for IoT
How to Strategically Leverage New Connectivity Options