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Christopher Hoffmann

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RE: Private Company Sell to Cover Options

Posted By Christopher Hoffmann 04-15-2024 14:51
Found In Egroup: Carta Collective \ view thread
Hey @Melissa Ordway, it's a great question! First, I'd say to check to make sure it's allowed in your equity incentive plan (you may or may not find the language in the equity plan documents). You may also want to speak to your legal counsel about this. Oftentimes in a 'cashless' or 'net exercise', ...

Custom message with the issuance of option grants (and other securities)

Posted By Christopher Hoffmann 02-14-2024 14:27
Found In Ideation
I was just on a meeting with an HR leader who said that he sends out custom messages to new hires and employees receiving refresh grants every time they have a new grant. I love Carta's email for new securities, but it would awesome if admins could add a custom message to the email that goes out, kind ...

RE: Introduction

Posted By Christopher Hoffmann 01-28-2024 00:44
Found In Egroup: Founders Lounge \ view thread
Truly amazing everything you've done and are currently doing, J Bruce! ------------------------------ Chris Hoffmann Founder, Equity Admin Co. - Carta admin for pre-IPO companies https://www.equityadmin.co/ 801.420.0441 ------------------------------

RE: UI/UX as a differentiator

Posted By Christopher Hoffmann 01-28-2024 00:42
Found In Egroup: Founders Lounge \ view thread
Hey @Rose Jian! For me, time is one of the most valuable things there is - I can always go out and work more and make more, but I can't buy more time. Because of this, I will often pay a higher price for a better user experience - one that makes sense, is easy to learn and understand, is quicker, and ...

RE: Carta Community's Engage & Earn Program

Posted By Christopher Hoffmann 01-28-2024 00:30
Found In Egroup: Carta Collective \ view thread
Amazing work - Thank you Brent! ------------------------------ Chris Hoffmann Founder, Equity Admin Co. - Carta admin for pre-IPO companies https://www.equityadmin.co/ 801.420.0441 ------------------------------

RE: Splitting founder equity

Posted By Christopher Hoffmann 01-28-2024 00:30
Found In Egroup: Carta Collective \ view thread
Hey @Yuan Onida! I agree with a lot of what Paul said, and would love to add some more thoughts - In my opinion, equity in business should be shared according to the RISK that the person has in joining and working on the business. By starting and launching the business, you have the most risk, which ...

RE: CPA Firm

Posted By Christopher Hoffmann 01-27-2024 23:59
Found In Community: Carta Collective \ view thread
Hey Jon, I have a couple partner companies that our clients work with who I'd be happy to introduce as well. Kruze Consulting and Tax Hive are a couple of them. Apart from CPA firms, have you heard of Taxfyle? They are the most affordable I've personally found so far to taxes. Also happy to send an intro ...

RE: Equity for board members

Posted By Christopher Hoffmann 01-08-2024 21:22
Found In Egroup: Carta Collective \ view thread
Hey @Sung Hae Kim! This is a fantastic question. I would think that Peter Walker from Carta might be the best person to ask about the data on this. I know he made a post (link below) about Series B and earlier (probably why you're asking about Series C+): https://www.linkedin.com/posts/peterjame ...

RE: Welcome to the Carta Compensation Community!

Posted By Christopher Hoffmann 01-08-2024 21:02
Found In Egroup: Carta Compensation \ view thread
Hey @Brent Devey and everyone else! I previously worked at Carta, back before Total Comp was a thing. I now own a firm that helps private companies manage their cap tables using Carta and I love it. Total Comp is something I've been so excited about, since the moment Carta announced it was coming ...

RE: Issues option grants without a 409a valuation

Posted By Christopher Hoffmann 01-08-2024 10:22
Found In Egroup: Carta Collective \ view thread
Thank you @Teresa-Judith Chartrand - these are great points! I'll continue to default to the "just get a 409A done" advice when asked. 😃 ------------------------------ Chris Hoffmann Founder, Equity Admin Co. - Carta admin for pre-IPO companies https://www.equityadmin.co/ 801.420.0441 ...

RE: Issues option grants without a 409a valuation

Posted By Christopher Hoffmann 01-08-2024 10:20
Found In Egroup: Carta Collective \ view thread
Fantastic point, @Valentin Haarscher!! ------------------------------ Chris Hoffmann Founder, Equity Admin Co. - Carta admin for pre-IPO companies https://www.equityadmin.co/ 801.420.0441 ------------------------------

RE: How many total shares authorized and how many shares should be issued to Founders

Posted By Christopher Hoffmann 01-08-2024 10:19
Found In Egroup: Founders Lounge \ view thread
@Marc Elliott great points, and great point about the difference between common and preferred, in case the conversion is great than 1:1 for preferred. Thanks for your input! ------------------------------ Chris Hoffmann Founder, Equity Admin Co. - Carta admin for pre-IPO companies https://ww ...

How many total shares authorized and how many shares should be issued to Founders

Posted By Christopher Hoffmann 01-07-2024 16:03
Found In Egroup: Founders Lounge \ view thread
Hey all! I've heard that a standard rule for new Delaware C-Corps is to authorize 10,000,000 shares when the company is first incorporated. I like this number because it's not too low and not too high, but I'd love to hear your take on how many shares should be issued to founders when the company is ...

Importing address information when adding new grants

Posted By Christopher Hoffmann 01-07-2024 15:47
Found In Ideation
The one tough thing about issuing new option grants and RSUs is that it only allows us to enter the 'state of residency' and doesn't allow us to enter the actual address info (and this state of residency doesn't flow to to the stakeholder page). It would be really helpful if we could enter the address ...

RE: Which federal exemption makes sense when issuing shares to cofounder (Section 4(a)(2) vs. Rule 701)?

Posted By Christopher Hoffmann 01-07-2024 15:29
Found In Community: Carta Collective \ view thread
Hey @Cat Dumitru! Apologies for my delayed response. Typically I will see Section 4(a)(2) on founder grants, just like on your grant - though that might be a default setting sometimes. The best answer to this is really to check with your attorney to see which is the best fit. It is a field that you can ...

Specifying the number of ISOs that can be issued

Posted By Christopher Hoffmann 01-07-2024 15:15
Found In Community: Carta Collective \ view thread
Hey all! This question is for my attorney-friends here, or anyone else familiar with Section 422 - I just recently found out that the number of ISOs that can be issued from a plan must be specified in the equity incentive plan documents, in order for ISOs to be issued from an equity plan compliantly. ...

RE: Carta's New SAFEs Insights Tool

Posted By Christopher Hoffmann 01-07-2024 13:45
Found In Egroup: Founders Lounge \ view thread
@Brent Devey Thanks for sharing this! This tool saved me when I was working with a founder and needed this data yesterday. 🙏 ------------------------------ Chris Hoffmann Founder, Equity Admin Co. - Carta admin for pre-IPO companies https://www.equityadmin.co/ 801.420.0441 ...

RE: Issues option grants without a 409a valuation

Posted By Christopher Hoffmann 01-07-2024 13:41
Found In Egroup: Carta Collective \ view thread
@Andrew Kirpalani this is a fantastic and important question - one I was going through a few months ago with two of our clients. We had an advisor to one of the companies calculate an FMV by using the valuation cap on the latest SAFE notes. For example - the valuation cap was $2M, and the number of shares ...

RE: Upcoming Event: Ask a Startup Founder with Valentin Haarscher

Posted By Christopher Hoffmann 01-07-2024 13:23
Found In Egroup: Carta Collective \ view thread
YES @Valentin Haarscher!! I'm so excited for this! 😃 🎉 ------------------------------ Chris Hoffmann Founder, Equity Admin Co. - Carta admin for pre-IPO companies https://www.equityadmin.co/ 801.420.0441 ------------------------------ ...

RE: what option type for Team members non employees

Posted By Christopher Hoffmann 01-07-2024 13:09
Found In Community: Carta Collective \ view thread
Hey @Alan DeRossett! Typically you'll issue one of two types of option grants - either Incentive Stock Options (ISOs) or Non-qualified Stock Options (NSOs). ISOs can only be issued to U.S. employees (W2 employees), and NSOs can be issued to non-US employees, other service providers, board members, etc. ...