Carta Collective

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  • 1.  Consultant exercised options

    Posted 08-15-2023 12:56

    Hello! 

    We have a consultant who we've now ended our relationship with. He was issued a chunk of options when he first started consulting and when he left he exercised $3,500 worth of his options. We reflected that in our cap table spreadsheet, but I need to update it in our carta account. How do I go about that? It wasn't all of his options, but only a portion. Do I need to change anything to his profile now that he's a former consultant? 



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    Shawn Stevenson
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  • 2.  RE: Consultant exercised options

    Posted 08-21-2023 05:03

    Hey @Shawn Stevenson!

    I previously worked at Carta and I'd love to help if I can - if you have properly set up his options in Carta with the proper vesting and details, then you'll head over to Securities > Equity Awards:

    Then find the award, click the three dots to the right of the line, and click "Exercise options":

    Enter the amount, the date he exercised, and then make sure to attach the exercise agreement here:

    Let me know if you have any follow up questions! Here are some more details about exercising: https://support.carta.com/s/article/exercising-manually (keep in mind to review the vesting schedule thats input into Carta to make sure that the consultant has vested enough options for the number of options he exercised.)

    Once you're finished with the exercised, make sure to go to 'Terminate' the stakeholder, by following these steps below:

    https://support.carta.com/s/article/terminate-stakeholders-update#:~:text=their%20termination%20date%3F-,How%20do%20I%20terminate%20stakeholders%20in%20Carta%20if%20my%20company,row%2C%20and%20select%20Terminate%20stakeholder.



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    Chris Hoffmann
    Founder, Equity Admin Co. - Carta admin for pre-IPO companies
    https://www.equityadmin.co/
    801.420.0441
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