Facebook looking for a little help with SOX compliance

July 9th, 2007

By Justin Smith

According to a new Facebook job posting, the company is looking for someone to run their stock option plan who knows how to deal with the SEC and Sarbanes-Oxley paperwork. Why would they need someone to do that?

Some highlights for the IPO watchers:

Responsibilities:

Manage the administration and compliance of all employee equity compensation programs such as Stock options, Restricted stock, RSUs, Warrants

Strong knowledge of SEC, FASB, and IRS rules and regulations relating to stock plans and insider trading (including SEC Section 16, SEC Rules 144, 145 and 701, FASB 123R, and IRC Sections 83, 409A, 421, 422 and 423)

Partner with Legal, Tax, and Finance to ensure ongoing compliance and for internal and external reporting

Requirements:

Minimum 4 years stock administration experience in an international public company, preferably a technology company

SOX 404 compliance knowledge

Understanding FAS-123R, FAS-123, 409A and other equity financial accounting and tax issues

[tags]facebook,ipo[/tags]

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5 Responses to “Facebook looking for a little help with SOX compliance”

Jackson Says:
July 9th, 2007 at 6:42 pm
I still believe Google will end buying Facebook. Facebook is doing the pre-IPO development (and will continue to do so during the negotiations) to raise their value. Zuckerberg idolizes Google.
Apparently Facebook Has Their Exit Strategy - The Unofficial Facebook Blog Says:
July 9th, 2007 at 7:58 pm
[...] to Justin Smith for finding and posting about it. Posted in News Digg this article Save to [...]
Flavio about Business 2.0 » Blog Archive » Killer: Facebook preparing IPO Says:
July 10th, 2007 at 1:32 pm
[...] to inside facebook, which smartly monitors facebook’s new job descriptions, they found this interesting new job opportunity at [...]
Steve Bowbrick Says:
July 11th, 2007 at 4:51 am
This isn’t really a big deal. Any growth business would need a SOX-compliant legal/finance person. Not having one would be negligent. Boards of directors worry about these things…
Facebook to float? - The Relentless Stream of Consciousness Says:
July 13th, 2007 at 8:00 am
[...] Facebook, here, reports that the social network may be looking into an Initial Public Offering (IPO) on the stock [...]