diff --git a/handbook/company/communications.md b/handbook/company/communications.md index 246c650da6..65615d5391 100644 --- a/handbook/company/communications.md +++ b/handbook/company/communications.md @@ -825,7 +825,7 @@ Fleet gives new parents six weeks of paid leave. After six weeks, if you don't f ### Retirement contributions -**US based team members:** Starting August 2023, Fleet offers the ability for US based team members to contribute to a 401(k) retirement plan directly from their salary. Team members will be auto-enrolled in our plan with Guideline at a default 3% contribution unless they opt out or change their contribution amount within 30 days of commencement. Auto-enrolled employee’s contributions will increase by 1% every year, on January 1, until 10% is reached. Fleet currently does not match any contributions made by team members to 401(k) plans. +**US-based team members:** Starting August 2023, Fleet offers the ability for US-based team members to contribute to a 401(k) retirement plan directly from their salary. Team members will be auto-enrolled in our plan with Guideline at a default 3% contribution unless they opt out or change their contribution amount within 30 days of commencement. Auto-enrolled employees' contributions will increase by 1% every year, on January 1, until 10% is reached. Fleet currently does not match any contributions made by team members to 401(k) plans. **Non-US team members**: Fleet meets the relevant country's retirement contribution requirements for team members outside the US. @@ -862,6 +862,10 @@ Fleet uses Carta to manage its cap table. Fleet option holders can [exercise sha > FYI: You can calculate the "Taxable Income" by subtracting the exercised or "strike" price from the "Fair Market Value" of shares at the time of exercise. > I.e. _"Fair Market Value" of shares at time of exercise_ - _strike price_ = "*Taxable income*" +As a US Fleetie, if you choose to "early exercise" your unvested options, you will need to file an 83(b) election within 30days of receiving the shares post exercise. As part of your exercise, Carta automatically generates the 83(b) election form when an option with early exercise enabled is issued. A tab for the 83(b) form will appear as soon as you decide to early exercise their option. This feature allows eligible U.S.-based equity holders to elect to be taxed at the time of grant rather than at the time of vesting. Additionally, Carta sends an email with instructions when a qualifying grant is accepted or an option is exercised. You can also access a pre-filled 83(b) election form directly within the platform. + +> Please note that the form must be printed, signed, and mailed to the IRS within 30 days of the grant date. You should also upload a signed copy to the platform for record-keeping purposes. Check out [how to track 83(b) election filings for early exercised option grants](https://support.carta.com/kb/guide/en/how-to-track-83-b-election-filings-for-early-exercised-option-grants-bZaiinjNng/Steps/3835066) for further guidance. + - For *Fleeties who are non-US tax residents*, please follow the instructions on this [page](https://support.carta.com/kb/guide/en/how-to-exercise-your-options-on-carta-wTFnzZVVFs/Steps/3763569,3781094,3780904) to exercise your options