Shareworks by Morgan Stanley at Work review

Shareworks is Morgan Stanley at Work's equity compensation platform, and it is built for companies further along than most on this list. Morgan Stanley describes it as one integrated platform for private and public companies, so a company can keep the same administrator through an IPO. For private companies it lists equity administration, liquidity support and 409A valuations. Its sandbox test site lets plan administrators model new grants, budget expenses and compare forecasting scenarios, and the platform tracks tax rates and rules across jurisdictions for global teams. HRIS data flows in by API, and reporting covers events such as 409A valuations and Section 16 filings. Liquidity event support and secondary transactions are a real draw for late-stage companies running tender offers, and employees get a financial education program. For an early startup, though, it is more than needed: there are no published prices, no self-serve plan and setup runs through a sales process.

Who it is for

Late-stage private companies planning tender offers or an IPO that want a bank-backed equity administrator.

Price

Sales-led; See vendor pricing (USD check pending).

US price check pending. See the vendor pricing page.

Key features

• Equity administration for private and public companies on one platform
• Sandbox test site to model grants, budget expenses and compare scenarios
• Support for liquidity events and secondary transactions
• 409A valuation services for private companies
• HRIS data sharing by API and tax tracking across jurisdictions

Strengths and weaknesses

• Strength: Same platform from private company to public listing
• Strength: Liquidity and tender offer support from a large brokerage
• Strength: Financial education program for employees
• Weakness: No published prices or self-serve plan
• Weakness: Built for larger companies, more than an early-stage startup needs
• Weakness: Sales-led setup takes longer than self-serve tools

Key facts

• Pricing: On request
• Companies: Private and public
• Modeling: Sandbox test site
• Liquidity: Tender offers and secondary transactions
• Provider: Morgan Stanley Smith Barney LLC

Where it ranks

Shareworks by Morgan Stanley at Work is No. 10 in our Best Cap Table Management Software verdict.