Exercise Expiration Notice

Options typically expire for two reasons: (1) expiration date set by the Board or (2) termination
The notice will be sent out 21 days prior to expiration unless a termination is processed less than 21 days before the post-termination exercise period expires, if the option holder has electronically accepted their option grant on Carta.
In that case, the notice will include the specific number of days left to exercise.

For companies that have ACH enabled on Carta, the email provides instructions for option holders to connect their bank account and exercise.

For more information about enabling an employee's ability to exercise, check out  this article

For companies that do not have ACH enabled, the email directs them to reach out to the issuing company to exercise:

Carta does not send out a notification email if the exercise expiration window expires before the 21-day threshold or if no shares have vested at the time of termination.