Thriving Globally with Equity

What you'll learn from this episode: ● Why third parties may give advice that employers can't: “Is the company going to go bankrupt or grow 10X? The company doesn't want to take either stance. The company can't tell all its employees, 'We are definitely going to be worth $10 billion. You should exercise now.' What happens if it doesn't?” ● How equity compensation decisions vary from person to person: “[Our goal is to help people] make the right decision for them and that is not always exercising. Sometimes it's better to not exercise. Sometimes it's better to wait two years and see what's going to happen. It depends on the individual. ” The guest speaker is neither an employee nor affiliated with Morgan Stanley Smith Barney LLC or its affiliates. Opinions expressed by the guest speaker are solely his or her own and do not necessarily reflect those of Morgan Stanley Smith Barney LLC. This material has been prepared for informational purposes only. It is not an offer to buy or sell or a solicitation of any offer to buy or sell any security or other financial instrument or to participate in any trading strategy. This material does not provide individually tailored investment advice and has been prepared without regard to the individual financial circumstances and objectives of persons who receive it. Information contained herein has been obtained from sources considered to be reliable. Morgan Stanley Smith Barney LLC does not guarantee their accuracy or completeness. Morgan Stanley at Work, Shareworks, Morgan Stanley Smith Barney LLC, and its affiliates and employees do not provide legal or tax advice. You should always consult with and rely on your own legal and/or tax advisors. Morgan Stanley at Work and Shareworks services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, all wholly owned subsidiaries of Morgan Stanley. CRC 4699360 (04/22)

From Shareworks by Morgan Stanley, this is Thriving Globally with Equity: A podcast following companies as they break into global markets. In today's episode, Leslie Schmidt and Lauren Stempel, both Head of Sales at Betts Recruiting, join the show to share detailed points of view on significant changes in the recruitment landscape, talent attraction challenges and scenarios for a new generation, and why companies need to get creative and start reconsidering their compensations and equity packages. Listen to this episode to learn why the hiring market has changed so drastically within the last months and what are the new assets that are here to stay. Jump straight into: (00:40) A complete market shift: Market competition in the recruiting industry after the 2020 downfall - “It's now the hottest and most competitive hiring market that I've ever seen in my career in recruiting.” (03:53) - A new generation of candidates: How are companies trying to attract and retain good employees - “They're thinking about their future. They're actually looking for financial advice and guidance and they're trying to save money.” (07:54) - The challenges and values of explaining equity compensation to employees - “Walk them through what that number could mean for them in the long run, because they're supposed to be signing on for the future they see with you as the company.” (9:06) - On the run for lower costs: How the pandemic has triggered an exodus to less expensive cities in the US - “About 26% of the candidates have moved out of the Bay Area and people aren't doing a commute anymore. They don't want to”. Resources Connect with https://www.linkedin.com/in/leslieschmidt (Leslie) and https://www.linkedin.com/in/laurenstempel?trk=public_profile_browsemap (Lauren) through https://www.linkedin.com/in/bob-carella-mba-6318511a/ (LinkedIn) https://bettsrecruiting.com/ (Betts Recruiting) Thanks for joining us! To learn more, check out our https://www.shareworks.com/podcast (website), where you'll find other episodes of Thriving Globally with Equity, along with deep-dive articles on each story. Thriving Globally with Equity is a production from https://www.shareworks.com/ (Shareworks) by Morgan Stanley, written by David Vallance from https://campfirelabs.co/ (Campfire Labs), narrated by http://mercyleebell.com/ (Mercy Lee Bell), with additional production and editing by https://www.studiopodsf.com/ (StudioPod Media).

Jeffrey Le Sage isn't your usual tech founder. His background is in the practice of law, not engineering. He cut his teeth writing contracts, not code. Although he has lived in California for years, Los Angeles—not Silicon Valley—is where he calls home. Yet, his experiences provide him with a unique perspective on the startup world; specifically, employee equity. After two decades wading through the moral quandaries, administrative headaches and tax inefficiencies sometimes associated with the field, he went on to found Liquid Stock, a fintech startup that aims to improve access to liquidity for employees of pre-IPO companies. What you'll learn from this episode:How some entrepreneurs became fixated on retention: “As a lawyer advising companies, I heard people say they wanted to keep their employees where they are and stop them from exercising their options,” said La Sage. “I heard some people justify it saying they were protecting their employees from the vultures.” Why employee-first cultures may be on the rise: “You're seeing companies led by employee-first cultures,” said La Sage” “They realized that they have to take care of their people. You can't just forget them, tie them down, and assume that they're going to remain contributors to your company. The advantage of turning options holders into shareholders: “One large eCommerce company had a massive unforeseen dividend,” said La Sage. “A bunch of employees who had exercised their options participated in that dividend because they were shareholders. The others hadn't and missed out.”

From Shareworks by Morgan Stanley, this is Thriving Globally with Equity: A podcast following companies as they break into global markets. On today's episode, Bob Carella, Director of Global Equity at Sprinklr, joins us to talk about his career, how hybrid roles will become key in the future, the importance of looking at payroll and equity as more than just numbers on a screen, and why becoming approachable will make a huge difference with the people around you. Listen now to learn more about global equity, the evolution of Sprinklr and why cultivating relationships should become your number one priority.  Jump straight into: (00:47) - The corporate ladder, joining Sprinklr, and the importance of cultivating relationships -  “We make sure that we are always at the top of hand thinking of the employee experience.” (05:17) - Bob from Finance's Stock Roadshows and the migration to the digital world - “We go into value-add meetings, I think that's always essential. You meet with a purpose and everybody should have a voice and just speak what's on their mind.” (10:51) - The transformation of Sprinklr and why hybrid roles are the future - “In the world of private companies with equity, I do think that some people are very open to it and understand the frustrations that happen, and more often than not, it comes down to the communication side.” Resources Connect with Bob through https://www.linkedin.com/in/bob-carella-mba-6318511a/ (LinkedIn) https://www.sprinklr.com/sprinklr-training (Sprinklr) Thanks for joining us! To learn more, check out our https://www.shareworks.com/podcast (website), where you'll find other episodes of Thriving Globally with Equity, along with deep dive articles on each story. Thriving Globally with Equity is a production from https://www.shareworks.com/ (Shareworks) by Morgan Stanley, written by David Vallance from https://campfirelabs.co/ (Campfire Labs), narrated by http://mercyleebell.com/ (Mercy Lee Bell), with additional production and editing by https://www.studiopodsf.com/ (StudioPod Media).

From Shareworks by Morgan Stanley, this is Thriving Globally with Equity: A podcast following companies as they break into global markets. Joining us on today's episode, Rob Knott, Executive Chairman at the global engineering and professional services firm, GHD, shares the story of how he ended up in the company by chance, how globalization opened new horizons for Australian companies, and the secret behind expanding worldwide without losing yourself in the way: their company's ownership program. Listen now to learn more about GHD's successful equity plan and how everything changes once your employees have some skin in the game.  Jump straight into: (00:50) - Rob and the globalization of the Australian market - “We either had to grow and become a global operator, or we would potentially disappear and become irrelevant.” (05:16) - Expanding without cracking via the company's ownership model - “I see it regularly with someone who you invite to be a shareholder, they change their mindset set.”  (11:18) - No rush! The long-term benefits of equity - “You can set your own pace. Your pace should always be adding value, but you're not driven by market forces to do that faster than you need to.” Resources Connect with Rob through https://www.linkedin.com/in/rob-knott-3b95201b/?originalSubdomain=au (LinkedIn) Visit GHD's https://www.ghd.com/en/index.aspx (website) to learn about the company.  Thanks for joining us! To learn more, check out our https://www.shareworks.com/podcast (website), where you'll find other episodes of Thriving Globally with Equity, along with deep dive articles on each story. Thriving Globally with Equity is a production from https://www.shareworks.com/ (Shareworks) by Morgan Stanley, written by David Vallance from https://campfirelabs.co/ (Campfire Labs), narrated by http://mercyleebell.com/ (Mercy Lee Bell), with additional production and editing by https://www.studiopodsf.com/ (StudioPod Media).

From Shareworks by Morgan Stanley, this is Thriving Globally with Equity: A podcast following companies as they break into global markets. Implementing shared ownership in any business is a tough job, but running a global equity plan through 39 countries is a colossal endeavor. In today's episode, we are joined by Micaela Castello, Head of Executive Compensation, Performance Management and Employee Equity at CSL, to talk about how the company brings its equity programs worldwide, why she reframed CSL's executive compensation plan, and how they deal with different legal systems and tax regimes from around the world. Listen now to learn more about CSL's commitment to making shared ownership a reality for all their employees around the globe.  Jump straight into: (00:40) - Micalea's journey: From working in financial services to her first day at CSL - “I was just struck by the culture of the organization and that every employee is there for the patient. Everything we do is about saving lives, protecting public health.” (04:22) - Reframing CSL's remuneration plan: 2016 scrutiny over executive compensation packages - “In 2016 we received a first strike on our remuneration report and under Australian legislation, if you receive a no vote of 25% or more for two consecutive years, then there's the potential for a board spill based on shareholder resolutions”. (07:59) - CSL's Global Employee Share Plan- “This is one of the only global benefits that we offer to all employees consistently and globally, which is fantastic, and we have really good uptake across the organization and our different countries.” (09:46) - The challenges of operating an equity program in 39 different countries - “In addition to the communication and education piece, the legal and tax compliance piece is another one of the big challenges that we face”. (12:04) - Getting effective information to every employee across the globe - ”Equity is complex at the best of times, so to try and explain things so that people understand the mechanics and how it all works is important for us.” Resources Connect with Micaela through https://www.linkedin.com/in/micaela-costello-70771b9/ (LinkedIn) Check out CSL's https://www.csl.com/ (website) Thanks for joining us! To learn more, check out our https://www.shareworks.com/podcast (website), where you'll find other episodes of Thriving Globally with Equity, along with deep dive articles on each story. Thriving Globally with Equity is a production from https://www.shareworks.com/ (Shareworks) by Morgan Stanley, written by David Vallance from https://campfirelabs.co/ (Campfire Labs), narrated by http://mercyleebell.com/ (Mercy Lee Bell), with additional production and editing by https://www.studiopodsf.com/ (StudioPod Media).

From Shareworks by Morgan Stanley, this is Thriving Globally with Equity: A podcast following companies as they break into global markets. On today's episode we talk to Rob Curcio, Senior Director of Finance at TouchBistro. Rob tells us all about his journey from accounting school to TouchBistro and how he changed the financial game in Canada's booming tech hub. He also shares some of his expert advice about expanding a company to new markets and getting employees to know everything about equity. Tune in to learn the details of this company's story building Silicon Valley's competition north of the border.  Jump straight into: (00:38) - Rob's journey finding tech - “I had a wealth of experience in different industries, including mining and entertainment, eventually switching over to the private sector and ultimately the startup in the tech space.” (03:04) - Arriving at TouchBistro and changing the game  - “I've been able to really easily transform the finance function, building out a formal financial reporting function. And then a little bit of an unorthodox twist.” (06:13) - Partnering with locals in new markets - “It's helpful having the expert who's domestic to be able to really build out a plan. Some companies don't have that ability to start with that.” (09:19) - A new hub north of the border? - “I think Toronto has become the new hub. I know the Canadian folks are happy to say that Americans see the bit of competition.” (10:40) - TouchBistro's sudden spike in equity interest - “Stock options are a great way to align personal behavior, intent, and work effort to the greater goal of making the company successful.”  Resources Connect with Rob through https://www.linkedin.com/in/rob-curcio-cpa-ca-2a5bbb36/?originalSubdomain=ca (LinkedIn) Check out https://www.touchbistro.com/ (TouchBistro's) website to know more about their services.  Thanks for joining us! To learn more, check out our https://www.shareworks.com/podcast (website), where you'll find other episodes of Thriving Globally with Equity, along with deep dive articles on each story. Thriving Globally with Equity is a production from https://www.shareworks.com/ (Shareworks) by Morgan Stanley, written by David Vallance from https://campfirelabs.co/ (Campfire Labs), narrated by http://mercyleebell.com/ (Mercy Lee Bell), with additional production and editing by https://www.studiopodsf.com/ (StudioPod Media).

From Shareworks by Morgan Stanley, this is Thriving Globally with Equity: A podcast following companies as they break into global markets. On today's episode, two of Reddit's finest: Director of Finance, Skee Yagi and Head of Equity, Georgina Lai, share with us their experience working at a fast-growing global tech company which, in many ways, still feels like a startup, and the challenges and satisfactions they've encountered with the implementation of Reddit's equity plans. Listen and learn more about the fascinating company that is Reddit and how the Internet's front page shares the pie with their global employees.  Jump straight into: (00:38) - Reddit's scrappy beginnings and their 2015 revival - “So in 2015, really small team, not that much investment. But since then it's been the process of super rapid growth, bringing people who have experience and hunger.” (02:54) - Arriving at Silicon Docks and Equity 101 for Dubliners - “I think that that's important for employees to understand. If you have skin in the game and you're going to work hard for the company and make it bigger and better.” (06:16) - Getting everyone invested - “Our employees are pretty enthusiastic about their equity for a private company. The number of exercises we see is higher than that of what I've seen at other private companies.” Resources Connect with https://www.linkedin.com/in/skeeyagi/ (Skee) and https://www.linkedin.com/in/georginalai/ (Georgina) through LinkedIn Check out Reddit's https://www.reddit.com/ (website) (if you're not a fan already)  Thanks for joining us! To learn more, check out our https://www.shareworks.com/podcast (website), where you'll find other episodes of Thriving Globally with Equity, along with deep dive articles on each story. Thriving Globally with Equity is a production from https://www.shareworks.com/ (Shareworks) by Morgan Stanley, written by David Vallance from https://campfirelabs.co/ (Campfire Labs), narrated by http://mercyleebell.com/ (Mercy Lee Bell), with additional production and editing by https://www.studiopodsf.com/ (StudioPod Media).

Equity is more than just numbers on a screen. When you own part of a business it feels like you own skin in the game, and when this business does well, it feels like you are doing well too.  Welcome to Thriving Globally with Equity, a podcast from Shareworks by Morgan Stanley. With this podcast series, our purpose is to help organizations own the challenge of realizing the full potential and rewards any business can have.  It doesn't matter how many countries you are operating, this podcast was made to look for both big and small companies and to look at the path they walked to get where they are today in the global markets. If you want to know what it takes to build a compensation equity plan, how this can engage employees and motivate them to do brilliant work, why cultivating relationships should be one of your top priorities, and much more, make sure to subscribe on your favorite platform so you can be noticed every time a new episode comes out.  To learn more, check out our http://share.works/podcast (website), where you'll find other episodes of Thriving Globally with Equity, along with deep dive articles on each story. Thriving Globally with Equity is a production from https://www.shareworks.com/ (Shareworks) by Morgan Stanley, written by David Vallance from https://campfirelabs.co/ (Campfire Labs), narrated by http://mercyleebell.com/ (Mercy Lee Bell), with additional production and editing by https://www.studiopodsf.com/ (StudioPod Media).