Information for Terminated Employees
Please note, for transparency, notifications may be sent from Carta upon termination, as outlined in Step 2 here. If there are exercisable options remaining upon termination, a reminder email will be sent out 21 days before the options expire: https://support.carta.com/article/644-exercise-expiration-notice
We recommend asking termed employees to go through the following steps:
1. Log on to Carta and ensure their account is connected to their personal email. If not, they can update it following the directions in this article: https://support.carta.com/article/529-how-to-change-email-address
2. Pull up their grant details - they can do this by going to their holdings page in Holdings > Portfolio > click on option grant.
Here, they will be able to see how many shares they have vested and the exercise expiration date:
If the option holder would like to exercise and the company has electronic exercises enabled - they will need to first connect their bank account (please note this can take 2-3 business days, if adding bank account manually, so it is best to do this sooner rather than later)
Once their bank account is connected, they will be able to exercise by going to Holdings > Portfolio > "v" drop-down (see arrow) > Exercise.
This article also goes over ACH exercise process: https://support.carta.com/article/898-exercise-options-ach
If the company does not have electronic exercises enabled, Carta directs the employee to exercise manually.
In addition, this article covers the basic tax implications of exercising: https://support.carta.com/article/107-tax-forms-grants