Our People

Equity Methods has assembled a world-class team of academic, financial, accounting and technology practitioners to provide a wealth of experience and in-depth hands on knowledge for our clients to access. This team has helped some of the world's largest and most complex organizations derive optimal and auditable values for their employee stock option expense.

Management Team

Takis Makridis
Equity Methods Practice Head

Takis Makridis is the head of services, sales, and delivery at Equity Methods. Takis leverages extensive consulting experience in overseeing the consulting practice at Equity Methods while remaining active in the firm’s research efforts. He works closely with finance and HR executives to address their equity compensation accounting, valuation, and financial reporting needs, and is critically engaged with thought-leaders from consulting firms, public accounting, and academia in addressing emerging issues. Equity Methods assists over 450 companies in properly valuing and accounting for their equity compensation instruments, with a particular focus on large and generally complex programs (strategically serving over 20% of the Fortune 100).

Takis is a nationally recognized speaker at industry conferences across the country and frequently leads executive briefing sessions and firm webinars to enhance knowledge sharing among client firms and disseminate best practices throughout the industry. Takis is the author of Advanced Topics in Equity Compensation Accounting and Accounting for Equity Compensation (third – fifth edition), both published by the National Center for Employee Ownership, which have been required texts for the Certified Equity Professional (CEP) designation. Takis has published articles in various technical publications and has also been cited in publications such as the New York Times and Compliance Week. Takis holds a B.S. in Economics and Finance from Arizona State University and an M.B.A. from Oxford University.

Melissa Kirk
VP, Technology and Infrastructure

As Vice President of Technology and Infrastructure, Melissa is responsible for all administrative, business technology, telecommunications, networking, desktop support, information security, disaster recovery planning, risk management, compliance and software development functions. Melissa champions IT as a value-added business for Equity Methods, and she works diligently across the organization to identify opportunities and structure IT solutions to deliver measurable results to Equity Methods and our clients. Melissa possesses over 10 years experience in systems development, project management, audit and compliance. Prior to joining Equity Methods, she served as Manager, Product Development at Gradient Analytics, Inc., an independent equity research firm, where she was responsible for overseeing all software development, database administration and quality assurance for all products. Melissa earned a B.S. in Interdisciplinary Studies/Business and Communications from Arizona State University.

Paul Leisey
Manager, Technology and Innovation

Paul is responsible for the efficient and accurate productization of Equity Methods intellectual capital, which includes designing and building the automated technology processes that power end-to-end compliance solutions. Paul’s area of focus involves emerging client needs and customized client solutions, and in 2010 and 2011 is focused on driving new capabilities related to IFRS, Employee Stock Purchase Plan (ESPP) compliance, and dynamic report customization.

Since joining Equity Methods, Paul has provided critical support to the advancement and development of the Professional Services Group. Well versed in the theoretical underpinnings of valuation and derivatives pricing, Paul has an applied financial economics background that includes research on modeling techniques ranging from Monte Carlo simulation to fixed-income valuation methods. Paul combines his extensive theoretical background and understanding of applied economics with a deep understanding of the technicalities of ASC 718 to assist companies in their ASC 718 compliance efforts. Paul holds a BS in Finance and a Masters in Finance (MMF) both from the Eller College of Management at the University of Arizona.

Nathan O’Connor
Managing Consultant and Valuation Group Head

Nathan O’Connor is Managing Consultant and Valuation Group Head at Equity Methods, where he leads the Valuation Services division of the Equity Methods Consulting Group. An expert in the valuation of equity compensation instruments, he has consulted senior executives at several Fortune 50 companies and more than 100 companies of all sizes on the compliance requirements of FASB ASC Topic 718. Prior to joining Equity Methods, Nathan trained in the doctoral program in finance at the University of Arizona, where he instructed undergraduates in investment securities and financial management, and actively assisted professors with consulting and research projects. He brings a background of experience in financial analysis, programming, instruction, and data management to the Equity Methods consulting team. His interests include econometrics and the application of Bayesian methods to economic problems. Nathan holds a B.A. in Political Science from Purdue University, an M.B.A. in Derivatives from Loyola University Chicago, and an M.S. in Finance from the Eller College of Management at the University of Arizona.

Neema Patel
Manager, Data Management

A data management expert, Neema oversees all data requirements for Equity Methods clients, including data analysis and correction operations. Since joining Equity Methods, Neema has proven her skill in working with equity compensation data by creating custom data models to meet financial reporting needs as well as providing critical expertise on data control and data management. Her database design and management expertise is leveraged across the organization to help identify the most relevant data requirements for valuation and custom financial reporting clients. Neema holds a Bachelors degree from San Jose State University in Computer Science with a minor in Mathematics, and an M.B.A. from the W. P. Carey School of Business at Arizona State University.

Roy Saliba
VP, Product Management

As Vice President of Product Management, Roy is responsible for paving Equity Methods overall technology strategy and for overseeing the development of the technology that powers the company’s valuation and custom financial reporting solutions. With extensive experience in software development and product management, Roy was an integral part of the original team that developed Option Navigator, the first web-based ASC 718 compliance and reporting solution to account for performance-based equity awards, laying the foundation for technology-driven solutions that automate complex financial reporting processes while emphasizing repeatability, auditability, and time-savings. Roy is one of the leading equity compensation industry experts on ASC 718. He holds both Finance and Computer Information System degrees from the W. P. Carey School of Business at Arizona State University.

Grant Wright
Manager, Operations

Grant Wright has spent the majority of his career in accounting and finance. His experience as a Vice President of Finance and Controller gives him a solid understanding of the fundamental operations within companies' financial departments and unique insight into the calculation and application of equity compensation. Grant leverages this experience in spearheading operational initiatives at Equity Methods that are geared toward streamlining processes and ensuring more rigorous execution on client engagements.

Prior to joining Equity Methods, Grant managed consulting engagements primarily consisting of large reconciliation projects. Most recently, he was recruited to supervise 26 senior level accountants responsible for reconciliation of over 2,800 balance sheet accounts after an ERP system conversion to ensure SOX compliance for a Fortune 500 financial services company with 47 subsidiary companies. Grant has experience in financial reporting, analysis, and planning, project management, process mapping and re-engineering, business combinations, and cost containment and reduction. Grant holds a B.S. in Accounting from the University of Missouri and an M.B.A. from the University of Florida.

Strategic Advisory & Academic Affiliate Team

Dr. John Bizjak
Academic Affiliate, Equity Methods
Associate Professor and Gerry and Marilyn Cameron Endowed Professor of Finance, Portland State University

Over his career Dr. Bizjak has conducted research over a broad number of issues in corporate governance and managerial compensation. A large body of his work is focused on modeling and estimating the value of performance based pay. In addition to his academic and consulting work he has served as a visiting economist at the United States Securities and Exchange Commission in Washington, D.C. While at the Securities and Exchange Commission he provided economic analysis on a broad range of corporate governance issues including the reporting and expensing of employee stock options. Dr Bizjak was also part of the Option Valuation Group put together by Financial Statements Accounting Board to provided recommendations for their proposal on expensing employee stock options. His research has been published in the American Economics Review, the Journal of Financial Economics, the Journal of Financial and Quantitative Analysis, the Journal of Banking and Finance, among others. His work has also regularly appeared in the popular financial press such as The Economist, The Wall Street Journal, and Business Week. He graduated with distinction with an Economics B.A. from the University of California at Berkeley, has an ABD in Economics from University of Utah, and a Finance Ph.D. from the University of Utah.

Dr. James Boatsman
Academic Affiliate, Equity Methods
KPMG Professor of Accounting, Arizona State University

James R. Boatsman, CPA, recently retired from the W. P. Carey School of Business at Arizona State University, where he was the KPMG Professor of Accounting. He received his B.S. and M.S. degrees from Oklahoma State University and his Ph.D. from the University of Texas at Austin. Dr. Boatsman previously taught at Oklahoma State University and Northwestern University and was an Academic Fellow at the Securities and Exchange Commission. He has published articles on financial accounting, auditing, and taxation in such journals as The Accounting Review, Journal of Accounting Research, Journal of Accounting and Economics, Journal of Accounting Literature, Abacus, Journal of Accounting Auditing & Finance, Journal of Management, and The Journal of the American Taxation Association, and is co-author of an advanced accounting text. Professor Boatsman is associate editor of the Journal of Accounting Literature and has been associate editor of The Accounting Review. He is a member of the American Accounting Association. American Institute of Certified Public Accountants (AICPA), and Financial Executives International. He has served on various committees of the American Accounting Association, editorial boards, and has been involved with the American Assembly of Collegiate Schools of Business on accreditation matters.

Ellie Kehmeier, CPA
Accounting Research Consultant, Equity Methods

Ellie Kehmeier is a CPA with over twenty years of experience consulting on the tax aspects of equity compensation. Prior to starting her own company, Creekview Consulting, Ellie was a tax director at Deloitte Tax LLP. With a background in stock option taxation and corporate tax provisions, Ellie has significant experience helping companies with the tax accounting treatment of equity compensation, including tax accounting for options assumed in an acquisition, backdated options, underwater option exchanges, and changes required under IFRS2.

Ellie is a regular speaker and author on tax issues relating to equity compensation. She recently co-authored an article entitled Underwater Option Strategies for Global Companies, and has been quoted in numerous publications. Recent presentation topics include the final ESPP regulations, new information reporting regulations for ESPPs and ISOs, tax accounting under IFRS2, underwater option exchanges, and the tax and accounting treatment of Restricted Stock awards. In addition, she has guest-lectured in the graduate tax program at San Jose State University and at UC Berkeley.

Ellie earned her Bachelor’s degree from U.C. Berkeley in Business Administration with concentrations in Finance and Accounting, and her Masters degree in Taxation from Golden Gate University.

Dr. Jose Suay
Academic Affiliate, Equity Methods
Clinical Associate Professor, Arizona State University

Dr. Suay served as the Senior Financial Economist at Equity Methods through 2009, and after returning to academia, now serves as an academic affiliate to Equity Methods.

Dr. Suay received his Ph. D. in Economics in 1990 and his Ph. D. in Finance in 1993, both from the University of Utah. His research has been published extensively in top-tier academic and practitioner journals, including the Journal of Finance and the Journal of Quantitative Financial Analysis. Jose’s research includes theoretical and empirical investigation into asset pricing, particularly stock options. This has led him to conduct research into the effects of estimation risk (model parameter uncertainty), both at the theoretical and empirical level, also enabling him to lend immense expertise to option valuation exercises that model employees’ risk aversion. Jose is a seasoned financial engineer who provides thought-leadership in the development and programming of Equity Methods’ variety of lattice models. Jose has taught courses in investments, financial derivatives, financial institutions, and corporate finance at the University of Utah and the University of Arizona.