Posted on Wed, Aug 14, 2002
Key Updates To Insider 5 Help Corporate Clients Comply With Sarbanes-Oxley Act's New Reporting Requirements
HOUSTON – August 14, 2002 -- Bridgeway Software, Inc. today announced that it will release key updates to its Insider 5 product, designed to help corporate clients comply with new Federal reporting requirements for insider transactions. The product enhancements will enable Bridgeway’s corporate clients to comply with the Sarbanes-Oxley Act by quickly and easily filing documents within the regulation’s required two-day window. These enhancements are expected to be available shortly after the SEC’s August 29, 2002 deadline to publish changes to Form 4 and adopt final rules for accelerated reporting. Today’s announcement reaffirms Bridgeway’s commitment to delivering comprehensive governance solutions for the corporate market.
The Sarbanes-Oxley Act requires that all insider transactions be reported within two business days and, starting in one year, be filed electronically through the SEC’s Electronic Data Gathering, Analysis, and Retrieval (EDGAR) filing system. The enhancements to Insider version 5 will allow daily creation of Form 4 and offer companies the option of filing forms manually or filing electronically directly to the SEC using Insider’s built-in connectivity to the EDGAR system.
“Bridgeway is committed to maintaining market leadership in corporate governance solutions by helping companies comply with securities laws and regulations,” said Patrick O’Donnell, President and CEO, Bridgeway Software, Inc. “These changes come at a time when corporate governance is under the microscope of stakeholder scrutiny and being in full compliance with laws and regulations is critical. The addition of these new features to Insider 5 will offer companies a practical approach to meeting these new filing requirements.”
Anticipating Federal changes in Section 16 reporting, Bridgeway Software has already been publishing research and making presentations on “Filing Your Form 4 Electronically in Two Days or Less – Practical Tips” at the American Society of Corporate Secretary’s National Conference, July 11, 2002 and will be offering this presentation in the Society’s upcoming Fall, 2002 newsletter. For a copy of this helpful guide, contact Bridgeway Software at (888) 272-4699.
Insider 5
Insider manages Section 16 compliance for public companies; a powerful tool for making SEC filings fast and easy. Insider 5 connects directly to the SEC’s EDGAR system, walks you through each step of creating and filing your Section 16 forms, maintains key information on each issuer, security and reporting person, keeps a complete history of your filings, offers 11 different tracking reports on your insider information and aids executives in managing compliance. Since 1995, Bridgeway’s Insider product has been helping hundreds of Fortune 1000 clients master the management of their Section 16 compliance.
What You'll Need To Start Filing Electronically
Each person filing Forms 3, 4 and 5 electronically must have his or her own set of EDGAR access codes (a Central Index Key or "CIK" number and a CIK Confirmation Code, or "CCC"), which are obtained by filing a Form ID with the SEC. These codes are used to identify the filer to the EDGAR system. Filers also receive a password to log on to the EDGAR system or to change the CCC. You can obtain a Form ID by visiting http://www.sec.gov/divisions/corpfin/forms/id.htm or calling the SEC publications unit at (202) 942-4046 and asking for Form ID (SEC 2084).
About Bridgeway Software
Bridgeway Software, Inc. develops, markets and supports the Secretariat™ and eCounsel™ software programs, members of the Bridgeway Application Suite, for the corporate legal community. Its best-inclass software and professional services are designed to automate the management of information for corporate secretaries and general counsel. Bridgeway has been recognized in the Inc. 500 as one of America's fastest growing companies. Founded in 1989, Bridgeway Software is headquartered in Houston, Texas with offices in Canada. For further information on Insider 5, call Bridgeway at (888) 272-4699 or visit the Bridgeway Web site at www.bridge-way.com.
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Media Contact:
Blane Erwin
Bridgeway Software, Inc.
(713) 599-8300
Blane.Erwin@bridge-way.com