Case Study: Denali Therapeutics boosts ESPP enrollment with Carver Edison’s Cashless Participation

Denali Therapeutics lifts ESPP enrollment 30% with Carver Edison

Denali Therapeutics faced a challenge common in the competitive biopharmaceutical industry: although they offered an Employee Stock Purchase Plan (ESPP) to attract and retain specialized talent, many employees could not afford the payroll deductions, limiting the benefit's reach. To address this financial barrier, they turned to the vendor Carver Edison and its Cashless Participation® service.

Carver Edison implemented its Cashless Participation® solution, preserving Denali’s existing ESPP design while removing the upfront cost barrier for employees. This led to a 30% increase in ESPP enrollment. Furthermore, employees using the Cashless option earned 7.6 times more profit per dollar invested and acquired 89.7% more stock than they could have otherwise, dramatically improving the program's impact and accessibility.

Denali Therapeutics