Eversheds Sutherland Advises Empower on Acquisition of OptionTrax

Eversheds Sutherland is pleased to announce that it advised Empower, a leading provider of retirement and wealth management services, on its acquisition of Plan Management Corporation (PMC), the creator of OptionTrax^®, a leading digital equity plan administration platform and service provider.

Under the agreement, Empower has wholly acquired PMC, headquartered in West Conshohocken, Pennsylvania, including its technology, proprietary product and service offerings, intellectual property, licenses, and contracts.

The combination will bring together Empower’s leading retirement and wealth management services and integrated financial tools with OptionTrax’s growing, digitally oriented equity compensation platform and administration services. The new offering from Empower with be available to both publicly traded and privately held companies. The OptionTrax equity plan platform will be integrated with Empower’s digital experience, which provides individuals a complete view of their financial picture — including their personal assets and liabilities — and the ability to manage their progress toward financial goals.

The OptionTrax platform is currently used by more than 300 employers with approximately $62 billion in equity compensation plan value.

The Empower press release is available here.

Eversheds Sutherland Insurance Partners Kevin Finnegan and Bert Adams led the deal, with support from Corporate and Regulatory Partner Jeff Bialos, Intellectual Property Partner Pete Pappas, Litigation Partner Meghana Shah, Tax Partners Adam Cohen, Brenna Clark and Wes Sheumaker, Intellectual Property Special Counsel Anna Halsey, Insurance Counsel Al Sand, Tax Counsel Frank Comparetto,  Insurance Associate Jiacong Wang and Tax Associate Luke Habeeb.