Upon looking into your request, I can see that ES-10 was Manually Exercised by the employee directly with the company. The exercise resulted in certificate ESOP-3. I can also see the certificate has been cancelled. Next step will be to delete the resulting certificate, in order to do so, we will need written confirmation from yourself as a legal administrator. We must also inform the stakeholder of such deletion. Please let me know if I have your consent to move forward with this process. Additionally, to the extent the reversal results in payment obligations to the security holder, please note that such transactions must be addressed directly between the company and shareholder, and cannot be facilitated through the Carta platform. Please let me know if you have any questions!
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Brent Devey
Community Manager
Carta
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Original Message:
Sent: 01-19-2023 12:04
From: Carta Admin
Subject: Reverse Option Exercise
Option holder ES-10 requested to exercise 50,000 of his options and purchase shares (ESOP-3) - he then changed his mind once he understood the full tax implications - so wants to void the purchase. I have issued a cancellation against ESOP-3, however, when I click into ES-10's option grant details - the exercised quantity of 50,000 is still showing - how do i reverse the transaction completely?
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Carta Admin
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