My previous employer had a tender offer as part of a new funding round.
I was an ex-employee already and had exercised my options within the 90 day window of resigning. If I remember correctly, we used Carta for both exercising the options and the tender offer.
For the tender offer, the company set a deadline and a price per share. Current employees were limited to selling a certain % of their options/shares. The website enforced the same restriction for me, which seemed like a bug, but I didn’t plan on selling most of my shares anyway. I chose a number of shares in a web form, clicked a button, and got cash direct-deposited. I had a larger than usual tax bill but I paid it while handling my usual annual tax return. No penalty on the taxes due to the “safe harbor” rule.
I was an ex-employee already and had exercised my options within the 90 day window of resigning. If I remember correctly, we used Carta for both exercising the options and the tender offer.
For the tender offer, the company set a deadline and a price per share. Current employees were limited to selling a certain % of their options/shares. The website enforced the same restriction for me, which seemed like a bug, but I didn’t plan on selling most of my shares anyway. I chose a number of shares in a web form, clicked a button, and got cash direct-deposited. I had a larger than usual tax bill but I paid it while handling my usual annual tax return. No penalty on the taxes due to the “safe harbor” rule.