With a 20-year history in the biotechnology industry, leading global analytical instrumentation manufacturing company Agilent Technologies, Inc. engaged Stock & Option Solutions for recruiting support after the departure of its Stock Plan Administrator.
Through this partnership, the multi-billion dollar, publicly traded biotechnology firm located in Santa Clara, California, was able to search for the right Stock Plan Administrator while Stock & Option Solutions managed daily stock-related duties. This interim solution successfully helped Agilent fill in the position until they were able to permanently hire in-house.
Support During a Key Personal Search
Agilent’s long-tenured Stock Plan Administrator suddenly gave notice, leaving the biotechnology company without a key player on their team. Hiring a professional for such an essential and specialized position requires time and care, but Agilent did not want to abandon their duties to their valued employees. With over 10,000 employees around the world, Agilent urgently needed a temporary solution to get them through their search without missing a beat in their stock administration duties, which included:
- Administration of all company stock plans
- Responding to the questions and needs of employees and executive staff
- Staying up-to-date on the latest stock industry trends
- Keeping employees updated on stock plan news
- Informing new hires about the company’s stock options
- Maintaining and updating stock database records
- Processing employee transactions to allow them to exercise stock options
Top Tier Expertise
Stock & Option Solutions was there to offer the expertise and support Agilent needed, placing an on-site Certified Equity Professional (CEP) from their team in less than a week. Agilent eventually brought in a second professional from Stock & Option Solutions to offer additional support in areas including:
- Day-to-day administration
- Equity compensation
- 6039 reporting
- End-to-end purchase processing
- Employee transactions
- Periodic reporting
- Responding to stock-related queries from executives and employees
- Policy and procedure enhancements
- SOX Documentation Updates
Bridging the Gap
With such a large staff, Agilent Technologies’ team leaders knew they didn’t have time to lose when they lost their key Stock Plan Administrator. They had too many valued employees and executives to keep in the loop regarding the company’s stock plan. When they realized that finding the right person to fill the role could take weeks, months, or even longer, they knew they needed professional reinforcements to bridge the gap in this important area of the organization in the meantime.