Idea Details

Issue share certs to name of the trust on behalf of the grantee (Israeli option holder issues)

Last activity 03-14-2023 12:04
David Wieseneck's profile image
By: David Wieseneck
02-18-2023 13:47

Background
We are a US company, with an IL subsidiary, who issues Section 102 & 3(i) grants to our Israeli employees. 
We use Carta for cap table management and then share the data and signed agreements to IBI (an Israeli Trust company) for trustee purposes.
We must use a workaround for in Carta to issue a certificate to an employee who exercises his options:
A workaround we use in case of Israeli options is to proceed as follows:
1. The stakeholder initiates the exercise and the options are exercised into a shares certificate;
2. The company creates a new stakeholder entry in the name of the trust on behalf of the grantee;
3. The company contacts Carta Support requesting that the certificate product of the exercise be reassigned to the stakeholder entry created for the trust, which is a staff tool. That way, the option grant can remain on the stakeholder's name, but the certificate is held by the trust.
Feature Request:
Please enable the ability to issue share certificates to name of the trust on behalf of the grantee. As the certificate is held by the trust.
Obviously, I would like to use Carta as our trustee as well (instead of IBI) but I am not holding my breath for that.