Some Clerky products that involve the issuance of stock may allow the spouse of the recipient of the shares to be included as a party to the document set. Typically, the spouse is included for the purposes of the spousal consent portion of a stock purchase agreement and the 83(b) Election form.
In general terms, the principal reason for the spouse to sign the spousal consent portion of a stock purchase agreement is to mitigate the risk that a spouse (or, more likely, an ex-spouse) may attempt to assert an interest in the shares and interfere with the terms of their issuance, which can cause a company difficulty.
It is ultimately up to the company to determine whether or not to include a spouse as a party. If a company does not include the spouse, the documents are simply prepared as if the recipient of the shares is unmarried.
Consult your attorney if you have questions about your specific circumstances.
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Last updated on March 6, 2024