Integrated with Carta’s API, Remote Equity gives businesses faster and easier ways to grant legally compliant equity to global employees
Remote, the leading global HR platform for distributed companies, today announced that it will collaborate with Carta to tackle one of the most important challenges in modern employment – equity compensation – with the launch of Remote Equity. Remote Equity is a solution that makes it easier for companies to grant and manage legally compliant stock option plans for talent across the globe. Remote Equity will sync promised option grants with Carta to help admins maintain as a single source of truth for their cap table, and is Carta’s first Draft Option Grant API partner.
Equity compensation has become a critical tool for attracting and retaining top talent in today’s competitive global job market. But when an individual lives in another country, the complexities of cross-border taxation, differences in securities and employment laws, reporting requirements, and other factors make equity grants difficult and expensive to offer. Typically, a company needs to hire a lawyer and pay large sums of money for them to draft this grant documentation, a process which can add weeks and is particularly prohibitive for startups and other small businesses.
Remote helps companies find, hire, manage, and pay talent globally, whether as employees or contractors. With the launch of Remote Equity, customers can now create competitive compensation packages for global talent. Remote Equity integrates with Carta’s cap table management solutions via the Carta API platform.
“Equity is such an important tool for attracting and retaining top talent, and it’s only becoming more vital as the workforce becomes increasingly global, which is why we chose Carta as our inaugural partner for Remote Equity,” said Valentin Haarscher, General Manager, Remote Equity. “Their industry-leading position in equity management, commitment to innovation, and robust API make them the ideal first collaborator as we launch this solution to provide legally compliant equity compensation while increasing the value of Carta’s platform for our customers’ entire global teams.”
Read More: How Diverse Boards Contribute to a Company’s Innovative Capabilities and Financial Performance
Carta is known as the premier platform for equity management. This integration with the Carta API means Remote customers can generate necessary legal documents for issuing equity in additional jurisdictions directly from the Carta dashboard, with draft option grants automatically synced between the two platforms, providing a holistic view on their global compensation program all from a single place.
“This partnership will enable Carta customers to seamlessly expand their equity programs internationally, unlocking tremendous value for businesses and employees alike,” said Reed McBride, Vice President of Strategic Partnerships and Ecosystem Development, Carta. “We’re excited to welcome Remote Equity as our first Draft Option Grant API partner, and look forward to giving customers one place to holistically view their global compensation.”
Remote Equity benefits include:
- The ability to set up and manage stock ownership plans for employees and contractors across the world while streamlining global legal expenditures
- Country-specific insights on stock option types, taxation, and other relevant regulations, enabling companies to make data-driven decisions that save time and money
- Personalized and localized equity education for employees, including local reporting obligations, learning materials, and tools to track the value of their equity from initial grant to exit scenarios
- Always-in-sync equity data and documentation between Carta and Remote Equity via Carta’s API platform
- Grant documentation from Remote Equity available directly in the Carta dashboard
- Integrated equity data to keep track of each employee’s entire compensation package in one place
- A compensation system that goes beyond employees to support all types of employment, including contractors, those employed through an EoR, and advisors
Read More : HRTech Interview with Harper Wells, Chief Compliance Officer at Learning Pool
[To share your insights with us, please write to psen@itechseries.com ]