All regular, full-time employees at Populus are eligible to receive incentive stock options (ISO) grants as part of the terms of their employment. The amount is outlined in the offer of employment. These options are governed by the terms and conditions of the company’s Equity Incentive Plan which includes a 4-year vesting schedule, under which 25% of your options vest after twelve (12) months and the remainder will vest in monthly installments equal to 1/48 of the total grant amount.

An ISO grant is just what it sounds like, an option to purchase company stock (i.e. “exercise” your options) at a predetermined price per share ( the “strike price”). Holding vested or unvested options does not create any obligation for you nor does it present any tax implications until or unless you decide to exercise your options. Under IRS rules, your options remain valid for up to ten (10) years after vesting provided you remain employed at the company, and up to ninety (90) days post separation if you leave the company, except in the case of termination with cause. Please consult with your tax or financial advisor for more information.

Make no mistake, owning company stock makes you an owner of the company, just as holding an option to purchase stock makes you an owner in potentia. We want each and every one of our team members to take this sentiment to heart, and to act accordingly. As owners, or potential owners, we want each of you to enjoy the incentive of participating in the financial success of our organization, and to bring an ownership mindset to how you perform your role.

Carta administers our stock incentive program. In the Carta platform, you can track the vesting of your shares as well as exercise your options once they have vested. The platform contains additional useful information about your shares.