Press Release

Carver Edison and Morgan Stanley at Work Launch API Integration to Boost Equity Ownership Among Stock Plan Participants

Issued by Carver Edison

July 6, 2022

NEW YORK -- Carver Edison, a New York City-based financial technology company which creates upward mobility solutions for employees of publicly traded companies, and Morgan Stanley at Work, a workplace financial solutions provider, announced today the successful implementation of an application programming interface (“API”). The integration optimizes the administration and management of Employee Stock Purchase Plans (ESPPs) that are enhanced with Carver Edison’s Cashless Participation®.

Amid historic global inflation and increased market volatility, it is critical that employees have access to their equity compensation, including ESPP shares. This new API provides Morgan Stanley at Work’s global corporate clients and equity participants with a streamlined equity administration process that includes automatic transfers of account and purchase data for same-day share settlement. Given the processing time is truncated, participants are able to receive their shares even faster and at greater scale than ever before. Backed by Carver Edison’s technology, clients will also be able to use the Cashless ESPP tool to offer financially inclusive stock ownership choices through their employees’ brokerage accounts.

“By enabling ESPP participation for the world’s workforce, we help individuals reach their financial goals amid market volatility. We’re thrilled to work with Morgan Stanley to execute on our shared vision of building inclusive wealth solutions,” said Aaron Shapiro, Founder and CEO of Carver Edison. “ESPPs are a powerful, shareholder-friendly compensation tool that can help employees build their net-worth and supplement their cash flow. Offering this type of benefit to employees is critical for employers looking to retain talent and navigate rising inflation.”

“We are thrilled to collaborate with Carver Edison to provide our clients and participants with cutting-edge technology that simplifies and streamlines administrating and managing their employee stock purchase plans,” said Scott Whatley, Managing Director and Global Head of Equity Solutions of Morgan Stanley at Work. “Given our significant role in the FinTech and benefits space, we continuously look to forge relationships with innovative companies like Carver Edison to raise the bar when it comes to workplace wealth, offering game-changing technologies that translate into practical and useful solutions for our clients and their plan participants.”

The widened availability of Carver Edison’s Cashless ESPP tool is also a way to provide Morgan Stanley at Work’s equity plan participants with the opportunity to acquire more discounted company stock without shrinking their paychecks. On average, employees using the Cashless ESPP own 50% to 150% more company stock without cost prohibitive payroll deductions, and companies providing this benefit unlock increased adjusted paid-in capital through bolstered plan participation. The program is sustainably funded through capital markets activities managed by Carver Edison.

About Carver Edison

Carver Edison is a New York City-based financial technology company that creates shareholder friendly economic mobility solutions. Carver Edison works with public companies to help close the economic inequality gap by increasing stock plan participation rates through its award-winning solution Cashless Participation® and education platform, Carbon™. Carver Edison has been recognized as Best World Changing Idea North America by Fast Company Magazine and among the most promising FinTechs by Business Insider. To learn more, please visit carveredison.com

About Morgan Stanley at Work

Morgan Stanley at Work offers a suite of financial solutions, which spans Equity Compensation through Shareworks and E*TRADE Equity Edge Online, Retirement and Financial Wellness Solutions. Morgan Stanley at Work combines cutting-edge planning and Morgan Stanley intellectual capital and financial education delivered through multiple channels to enable employees to build a holistic plan to achieve their financial goals. Shareworks services are provided by Morgan Stanley Smith Barney LLC, member SIPC, and its affiliates, and Equity Edge Online® employee stock plan solutions are offered by E*TRADE Financial Corporate Services, Inc., both are parts of Morgan Stanley at Work and all wholly owned subsidiaries of Morgan Stanley.

About Morgan Stanley Wealth Management

Morgan Stanley Wealth Management is a leading financial services firm that provides access to a wide range of products and services to individuals, businesses, and institutions, including brokerage and investment advisory services, financial and wealth planning, cash management and lending products and services, annuities and insurance, retirement, and trust services.

About Morgan Stanley

Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 41 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.

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