PTEP wire timing

How much lead time do you give departing employees to complete a wire exercise before their PTEP window closes? We've had a few close calls where the wire landed just in time so I’m wondering if there's a buffer Carta builds in, or if it's a hard deadline.

Great question, John!

One thing about wire exercises that catches companies off guard: Carta needs to receive the funds before the PTEP expires. Not just initiated, actually received. If the wire lands a day late, the funds get stuck and can't be applied.

The only path forward is to cancel the exercise, refund the employee, and have the company manually reflect it with a backdated exercise date if they want to honor it.

If you allow wire exercises for departing employees, build in more runway than you think you need. International wires can especially take a while to settle.