Schwab Stock Plan Services Expands International Capabilities, Offers Fully Featured Accounts to 18 Additional Countries

Rhea-AI Summary

Schwab Stock Plan Services expands availability of investment accounts to equity compensation plan participants in 18 additional countries.

Positive

• Schwab now offers fully featured accounts for participants in 52 jurisdictions outside the U.S.
• Fully featured accounts provide access to expanded products and services, including broader securities trading, options, fixed income, eligible offshore mutual funds, and a debit card.

Negative

• None.

WESTLAKE, Texas--(BUSINESS WIRE)-- Schwab Stock Plan Services recently expanded availability of fully featured investment accounts to equity compensation plan participants in 18 additional countries. With the expansion, Schwab now offers fully featured accounts for participants in 52 jurisdictions outside the U.S.

Many stock plan providers offer limited investment account features to international employees due to securities and tax law intricacies that vary widely from country to country. To implement the new capabilities, Schwab worked directly with legal and regulatory experts in each of the added countries to ensure adherence to applicable country-specific laws, securities regulations and exemptions.

“Eighty percent of our clients have employees outside the U.S., which represents 25 percent of all of the stock plan participants we serve,” said Amy Reback, Managing Director, Schwab Stock Plan Services. “That’s why we’re so pleased to be able to increase our offerings to more participants by expanding access to our financial professionals, educational resources, and investment services.”

Limited-purpose accounts typically only allow the holding and sale of equity awards, without the ability to invest in other securities. As a result, many international employees simply cash-out their equity compensation when a vesting event occurs. Fully featured accounts provide access to expanded products and services, including broader securities trading, options, fixed income, eligible offshore mutual funds, and a debit card.

“Our clients want employees to view their equity compensation plan as a wealth builder that can turn them from earners into owners. Fully featured accounts help with this goal by offering more comprehensive services that can show the true, long-term value of equity compensation and how it fits into an overall financial plan, which helps deepen ties between employees and employers,” Reback said.

Non-U.S. countries and U.S. territories eligible for fully featured accounts include:

Argentina Australia Austria* The Bahamas Belgium Bermuda Brazil British Virgin Islands Cayman Islands Chile China Colombia Costa Rica *Newly added

Czech Republic* Denmark* Ecuador Finland* Germany Greece* Guam Guatemala Hong Kong Iceland* India Indonesia* Ireland*

Israel Jersey Luxembourg* Malaysia Mexico Netherlands* Norway* Panama Paraguay* Peru Poland* Portugal* Puerto Rico

Qatar South Korea* Spain Sweden* Switzerland Taiwan Thailand Trinidad & Tobago* Turks & Caicos* United Arab Emirates United Kingdom U.S. Virgin Islands Uruguay

In addition to offering fully featured accounts for participants in 52 jurisdictions, Schwab Stock Plan Services continues to offer equity accounts worldwide, with the exception of OFAC-sanctioned countries, so employees can manage their equity compensation regardless of their location through a fully featured or limited-purpose account.

About Charles Schwab

At Charles Schwab, we believe in the power of investing to help individuals create a better tomorrow. We have a history of challenging the status quo in our industry, innovating in ways that benefit investors and the advisors and employers who serve them, and championing our clients’ goals with passion and integrity.

More information is available at aboutschwab.com. Follow us on Twitter, Facebook, YouTube, and LinkedIn.

Disclosures

Workplace Financial Services is a business enterprise which offers products and services through Schwab Retirement Plan Services, Inc.; Schwab Stock Plan Services; and Designated Brokerage Services. Schwab Retirement Plan Services, Inc., provides recordkeeping and related services with respect to retirement plans. Schwab Stock Plan Services is a division of Charles Schwab & Co., Inc. providing equity compensation plan services and brokerage solutions for corporate clients. Schwab Designated Brokerage Services (DBS), a division of Charles Schwab & Co., Inc., provides technology solutions for corporate clients with regulatory requirements to monitor employee security transactions. Schwab Retirement Plan Services, Inc., and Charles Schwab & Co., Inc. (“Schwab”) (member SIPC, www.sipc.org), are separate but affiliated entities, and each is a subsidiary of The Charles Schwab Corporation.

This information is not intended for residents of a particular country. Not all products, services, or investments are available in all countries. None of the information provided here is an offer to sell or a solicitation of an offer to buy securities, products or service, by any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation. Investing in U.S. securities is not without risk. Investment returns will fluctuate and are subject to market volatility, so that an investor’s shares, when redeemed or sold, may be worth more or less than their original cost.

1023-3BZE

View source version on businesswire.com: https://www.businesswire.com/news/home/20231018305129/en/

Mike Peterson

Charles Schwab

330-908-4334

mike.peterson@schwab.com

Carly Taylor

The Neibart Group

973-618-6993

SchwabRPS@neibartgroup.com

Source: The Charles Schwab Corporation

FAQ

Which countries are eligible for fully featured accounts?

Argentina, Australia, Austria, The Bahamas, Belgium, Bermuda, Brazil, British Virgin Islands, Cayman Islands, Chile, China, Colombia, Costa Rica, Czech Republic, Denmark, Ecuador, Finland, Germany, Greece, Guam, Guatemala, Hong Kong, Iceland, India, Indonesia, Ireland, Israel, Jersey, Luxembourg, Malaysia, Mexico, Netherlands, Norway, Panama, Paraguay, Peru, Poland, Portugal, Puerto Rico, Qatar, South Korea, Spain, Sweden, Switzerland, Taiwan, Thailand, Trinidad & Tobago, Turks & Caicos, United Arab Emirates, United Kingdom, U.S. Virgin Islands, Uruguay.

What services are provided with fully featured accounts?

Fully featured accounts provide access to expanded products and services, including broader securities trading, options, fixed income, eligible offshore mutual funds, and a debit card.

Why is expanding access to financial professionals and investment services important?

Expanding access to financial professionals and investment services helps participants view their equity compensation plan as a wealth builder and understand the long-term value of their equity compensation.

Can employees manage their equity compensation regardless of their location?

Yes, employees can manage their equity compensation regardless of their location through a fully featured or limited-purpose account.