Candor Inc.
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| Private | |
| ISIN | 🆔 |
| Industry | |
| Founded 📆 | 2020 |
| Founder 👔 |
|
| Headquarters 🏙️ | San Francisco, California, U.S. |
Area served 🗺️ | U.S. |
| Members | |
Number of employees | |
| Subsidiaries | Candor Financial LLC |
| 🌐 Website | candor |
| 📇 Address | |
| 📞 telephone | |
Candor Inc. is an American financial technology company headquartered in San Francisco[1] that facilitates management of employee stock for insiders of public companies. The company helps insiders diversify their holdings through automated trading plans established under SEC Rule 10b5-1.[2]
Candor is registered as an investment advisory firm with the U.S. Securities and Exchange Commission.[3]
History[edit]
The company was founded in 2020 by Niya Dragova and David Chouinard, initially providing salary negotiation coaching to technology employees.[4][5][6]
In March 2020, the company published a list of over 1,000 companies who announced layoffs or hiring freezes at the height of the COVID-19 pandemic.[7][8][9]
In May 2021, Candor launched an investment management product targeting employees of publicly traded companies.[3]
Products and services[edit]
Employees earning stock compensation are often restricted from selling their stock due to insider trading regulations and have fewer opportunities to diversify.[10] According to the Financial Industry Regulatory Authority, these employees often accumulate concentrated positions in their company's stock.[11]
Candor helps insiders establish 10b5-1 trading plans to diversify some of their stock.[12] Establishing 10b5-1 trading plans has historically been a tedious process only available to executives and other sophisticated investors, Candor aims to make this financial tool available to everyday employees.[1]
Role in 10b5-1 rule changes[edit]
In December 2021, the Securities and Exchange Commission proposed a revamp of Rule 10b5-1.[13] Candor lobbied the SEC for the new rules to enforce a distinction between executives and employees and to impose lighter compliance requirements on everyday employees.[14]
References[edit]
- ↑ 1.0 1.1 "About Candor". candor.co. Retrieved 2022-06-21.
- ↑ "Client Relationship Summary" (PDF). April 8, 2022.
- ↑ 3.0 3.1 "Investment Adviser Public Disclosure". adviserinfo.sec.gov. Retrieved 2022-06-21.
- ↑ "From Adversity to Ambition with Niya Dragova of Candor". Indie Hackers. 2021-12-29. Retrieved 2022-06-21.
- ↑ Kearl, Mary. "How to negotiate a higher salary and better perks after receiving a job offer, according to a cofounder who's helped candidates land $50,000 or more in extra pay". Business Insider. Retrieved 2022-06-21.
- ↑ Peck, Emily (2021-12-30). "What Do You Think You Should Be Paid?". The New York Times. ISSN 0362-4331. Retrieved 2022-06-21.
- ↑ "Candor: 267 companies have frozen hiring, 44 had layoffs, 36 rescinded offers, 111 are hiring". VentureBeat. 2020-03-28. Retrieved 2022-06-21.
- ↑ "Candor crowdsources the recruitment landscape". telecoms.com. 2020-03-30. Retrieved 2022-06-29.
- ↑ Garnett, Laura. "These Companies Are Still Hiring—Here's Their Top Advice For Getting Hired". Forbes. Retrieved 2022-06-29.
- ↑ "Rethinking Equity Compensation: From Lottery Ticket to Financial Wedge". Future. 2021-12-08. Retrieved 2022-06-21.
- ↑ "Love My Company, Love The Stock? Beware Concentration Risk". FINRA. Retrieved 2022-06-21.
- ↑ "Grow your RSUs". candor.co. Retrieved 2022-06-21.
- ↑ "SEC Proposes Amendments Regarding Rule 10b5-1 Insider Trading Plans and Related Disclosures". www.sec.gov. Retrieved 2022-06-21.
- ↑ Dragova, Niya (2021-09-07). "Comments regarding rule 10b5-1 and its critical role as a financial wellbeing tool for non-executives earning RSUs" (PDF). SEC.
External links[edit]
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