{"id":1498,"date":"2019-05-14T00:00:00","date_gmt":"2019-05-14T00:00:00","guid":{"rendered":"http:\/\/www-staging.carta.com\/sg\/blog\/board-resolutions\/"},"modified":"2021-03-05T06:57:56","modified_gmt":"2021-03-05T06:57:56","slug":"board-resolutions","status":"publish","type":"post","link":"https:\/\/www-staging.carta.com\/sg\/blog\/board-resolutions\/","title":{"rendered":"Get option grant and 409A valuation approvals without leaving Carta"},"content":{"rendered":"\n<p>Carta already simplifies the option grant and 409A valuation processes for private companies, and now we&#8217;ve gone a step further. With our updated <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www-staging.carta.com\/sg\/board-management\/\" target=\"_blank\">board consents product<\/a>, we&#8217;re making it even easier to get board approval on option grants, 409A valuations, and any other consents or exhibits.<br><\/p>\n\n\n\n<p>Without a streamlined board approval process, key decisions and sensitive documents end up sprawled across email, document sharing apps, and messaging services. Getting a consent created and approved requires searching for information and manually re-entering data entry. And tracking decisions after they\u2019re made can be nearly impossible.<br><\/p>\n\n\n\n<p>Now, company admins and legal admins can securely send and track board consents based on data already in Carta, and built into workflows you already use. After board consents have been approved, they are stored and referenceable any time in Carta. <\/p>\n\n\n\n<h2>Easily create, send, and track consents<\/h2>\n\n\n\n<p>Boards often approve similar types of consents over and over again. We built templates so your legal team can set up a consents once and reuse it whenever you need it.<br><\/p>\n\n\n\n<p>Here are some common templates you can set up on Carta:<\/p>\n\n\n\n<ul><li>Option grant approval<\/li><li>409A approval<\/li><li>Meeting minutes approval<\/li><li>Omnibus (authorize officers of the company)<\/li><\/ul>\n\n\n\n<p>Once templates are created, you can drop in recent equity information straight from Carta, including:<\/p>\n\n\n\n<ul><li>409A valuation<\/li><li>Option grants<\/li><li>Documents, such as a Form of Agreement to be approved<\/li><\/ul>\n\n\n\n<p>When the consents has been <a href=\"https:\/\/support.carta.com\/sg\/s\/article\/creating-new-resolution\" target=\"_blank\" rel=\"noopener\">created<\/a>, you\u2019ll select the board member approvers. Then your legal admin will get a task to review the consents before it goes out to your board. <\/p>\n\n\n\n<p>Once the legal admin publishes the consents, board members will get an email asking them to approve the consents (and if they open the email on their iPhone, they&#8217;ll be taken to the Carta iOS app where they can view and sign the consents on the go.) <\/p>\n\n\n\n<p>Company and legal admins can easily see which board members have approved the consents, tracking progress toward unanimous consent.<\/p>\n\n\n\n<h2>A few ways to use board consents:<\/h2>\n\n\n\n<h3>Board approval for an employee option grant<\/h3>\n\n\n\n<p>Here\u2019s how to get employee option grants approved by your board of directors in Carta:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img src=\"https:\/\/www-staging.carta.com\/sg\/wp-content\/uploads\/sites\/9\/2019\/05\/option_grant_modal_screenshot_new-1024x810.png\" alt=\"\" class=\"wp-image-12919\" title=\"\"><\/figure><\/div>\n\n\n\n<ul><li>Draft an option grant in our Securities tab, select \u201cneeds board approval\u201d<\/li><li>Select send, and Carta automatically drafts a new board consent<\/li><\/ul>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img src=\"https:\/\/lh4.googleusercontent.com\/cyoQHHHbJo1ZBIgSR5ksQkRpXC8oMtMlMIEFd7rji06LIcA90KCOIFO5TpIUuqV4otokGBpFjBrGcSsluaHVg0fmZb3diIA6RnGs4HD9sg3hjfdXAr6PkdVWDEt5X1pXClfpCF6Z\" alt=\"\" title=\"\"><\/figure><\/div>\n\n\n\n<ul><li>To complete the process, simply send the option grant board consent to your legal admin for review, and then to your board for approval<\/li><\/ul>\n\n\n\n<h3>Board approval for a new 409A valuation<\/h3>\n\n\n\n<p>Here\u2019s how to get your 409A valuation approved by your board of directors in Carta:<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img src=\"https:\/\/lh3.googleusercontent.com\/GC2u0xSNDhZQf60dJGyWraEu7_mHNUwGj7POh0IGHL9iZoSclPyoCXBgHMvKJwJKSWm-F0IaS-wdqetyImzAi4q8MavQb5TngycKimfhlIL37fD6tiyu6YdlqchtnZXJZ10vAjd3\" alt=\"\" title=\"\"><\/figure><\/div>\n\n\n\n<ul><li>Request <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www-staging.carta.com\/sg\/blog\/what-is-a-409a-valuation\/\" target=\"_blank\">a 409A valuation from Carta<\/a> (we do 5,000 a year)<\/li><li>When our valuations team sends you your finished 409A valuation, go to the Board Consents tab and drop your pending valuation into your consent template in one click. The consent automatically includes a summary of your 409A and a graph of your fair market valuation over time<\/li><li>Send to your legal admin for review, and then to board members for approval <\/li><li><a href=\"https:\/\/support.carta.com\/sg\/s\/article\/approving-board-resolution\" target=\"_blank\" rel=\"noopener\">Board members can approve<\/a> before your next meeting<\/li><\/ul>\n\n\n\n<h2>How to get board consents<\/h2>\n\n\n\n<p>Board consents are part of Carta\u2019s <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"https:\/\/www-staging.carta.com\/sg\/pricing\/\" target=\"_blank\">Starter, Growth, and Enterprise plans<\/a>. If you\u2019re a board member or lawyer and would like your company or client to use Carta board consents, <a rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\" href=\"mailto:partnersales@carta.com\" target=\"_blank\">reach out to our partnerships team<\/a>.<br><\/p>\n\n\n\n<p>We plan to continue to streamline common flows like issuing option grants. If you have feedback, <a href=\"mailto:product@carta.com\" target=\"_blank\" rel=\"noreferrer noopener\" aria-label=\" (opens in a new tab)\">reach out to our product team directly<\/a>. We\u2019d love to hear from you. <br><\/p>\n\n\n\n<hr class=\"wp-block-separator is-style-wide\"\/>\n\n\n\n<p class=\"has-small-font-size\">DISCLOSURE: This communication is being sent on behalf of eShares, Inc. dba Carta, Inc. \u00a0Certain transactional fees may apply. This communication is not to be construed as legal, financial or tax advice and is for informational purposes only. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Carta does not assume any liability for reliance on the information provided herein. <br><\/p>\n\n\n","protected":false},"excerpt":{"rendered":"<p>Carta already simplifies the option grant and 409A valuation processes for private companies, and now we&#8217;ve gone a step further. With our updated board resolutions product, we&#8217;re making it even easier to get board approval on option grants, 409A valuations, and any other resolutions or exhibits.<\/p>\n","protected":false},"author":54,"featured_media":1729,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[4],"tags":[],"acf":[],"_links":{"self":[{"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/posts\/1498"}],"collection":[{"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/users\/54"}],"replies":[{"embeddable":true,"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/comments?post=1498"}],"version-history":[{"count":0,"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/posts\/1498\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/media\/1729"}],"wp:attachment":[{"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/media?parent=1498"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/categories?post=1498"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www-staging.carta.com\/sg\/wp-json\/wp\/v2\/tags?post=1498"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}