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Article prepared by and republished courtesy of our colleagues Jeffrey Hare, Margo Tank, Christopher Steelman, David Whitaker, and Adam Dubin; originally published here: https://www.dlapiper.com/en-us/insights/publications/2023/03/takeaways-from-the-silicon-valley-bank-and-signature-bank-receiverships

On Friday, March 10, 2023, Silicon Valley Bank (SVB) was closed by its chartering regulator, the California Department of Financial Protection and Innovation, and the Federal Deposit Insurance Corporation (FDIC) was appointed as receiver which is typical for a bank receivership. The FDIC formed Deposit Insurance National Bank of Santa Clara (DINB) (chartered by the Office of the Comptroller of the Currency) and immediately transferred to DINB all insured deposits of SVB. No loans or other products were transferred to DINB nor were uninsured deposits.Continue Reading Takeaways from the Silicon Valley Bank and Signature Bank receiverships

As a Valentine’s Day gift to the community, Silicon Valley Bank issued its eighth annual Startup Outlook Report, resulting from a survey of nearly 950 technology and healthcare executives in startups, most based in the US, with additional input from businesses with primary operations in the UK and China. SVB’s survey asked entrepreneurs for their views on access to capital, hiring, general business conditions, public policy issues and other factors relevant to their businesses.  Nearly all of the survey respondents were privately held companies, with the majority in the…
Continue Reading SVB’s Annual Startup Outlook Report

From our colleagues William H. Hoffman and Cisco Palao-Ricketts

Due to high competition to attract employee talent and to improve employee recruiting and morale, several private companies in the technology sector have recently altered typical stock option terms to extend the exercise period of vested stock options following termination of employment.

This new trend carries with it a complex set of considerations for employers that we examine in more detail here.
Continue Reading Equity Compensation Trend: Extending Time to Exercise Vested Stock Options