Months after acquiring equity management company Easop, Remote, the HR platform for managing geographically dispersed teams, is further focusing on managing equity compensation with a new product, Remote Equity.
Remote already makes it easier for companies to collaborate with talent around the world. Companies can hire employees anywhere and treat them like local employees without establishing a local subsidiary.
But stock option plans remain a hurdle for startups with distributed teams. Providing equity for foreign employees is a difficult proposition as tax withholding and other local regulations need to be considered.
Remote Equity essentially solves this problem by allowing companies to grant stock option plans to foreign employees. These plans comply with local regulations in jurisdictions where remote equity is available, and businesses do not need to find local counsel for their foreign employees to complete grant documentation.
For this product, Remote has chosen Carta as its first partner. Companies that use Carta to manage their cap tables can draft and issue option grants in Carta, including for foreign employees. Behind the scenes, Remote generates the necessary legal documents for additional jurisdictions and makes them available in Carta's interface.
Equity data is automatically synced between Carta and Remote Equity, allowing managers to see each employee's entire compensation package, including stock option plans, from within Remote's interface.
Valentin Haarscher, co-founder and CEO of Easop, also currently serves as GM of Remote Equity.
Deel, one of Remote's competitors in the global HR platform space, also integrates with Carta to sync equity events and automate global equity tax withholding.