How EquityZen Is Breaking Open Private Markets With CEO Atish Davda

This material is for educational and informational purposes only and is not an offer, solicitation or recommendation to buy or sell any security, financial instrument, product or service.

Podcast participants’ views are their own and do not necessarily reflect those of Morgan Stanley Smith Barney LLC, Morgan Stanley at Work or their affiliates. Morgan Stanley employees participating are not acting as financial, tax, legal or fiduciary advisors to any listener or other person.

References to EquityZen, private company secondary markets, approved liquidity pathways, private company stock transactions and related parties are illustrative only, not an endorsement, recommendation, solicitation or validation by Morgan Stanley of any company, platform, transaction structure, investment strategy or service provider. Morgan Stanley does not guarantee any third-party obligations, services, products, platforms, processes or performance. Trademarks and brand references belong to their owners.

Morgan Stanley Smith Barney LLC is not implying an affiliation, sponsorship, endorsement with/of the third party or that any monitoring is being done by Morgan Stanley of any information contained within the web site. Morgan Stanley is not responsible for the information contained on the third party web site or the use of or inability to use such site. Nor do we guarantee their accuracy and completeness. 

Morgan Stanley Smith Barney LLC, its affiliates and Morgan Stanley Financial Advisors and Private Wealth Advisors do not provide tax or legal advice. Consult appropriate tax, legal, accounting, benefits, securities and compliance advisors.

Holders of private company stock should review applicable plan documents, agreements, company policies, transfer restrictions and governing documents before any sale, pledge, transfer or other transaction. Related discussion is general and does not replace controlling official documents.

Discussion of equity compensation, private company shares, liquidity events, vesting, taxation, withholding, transferability, employee benefits, HR practices or company stock is not tax, legal, accounting, investment or financial planning advice. Companies should evaluate objectives, plan design, budget and legal, fiduciary and compliance obligations before changing related programs.

Investing involves risk, including possible loss of principal. Company stock and equity compensation values can fluctuate. Private company securities involve additional risks, including limited liquidity and information, valuation uncertainty, transfer restrictions, lack of a public market and concentration risk, and may not be suitable for all investors.

Survey findings are informational and subject to limitations. Past performance is not a guarantee of future results. Statements about market trends, private market activity, IPOs, M&A, liquidity events, growth or employee financial outcomes are general observations only and not predictions, guarantees or investment recommendations. Anecdotal examples are illustrative only, not representative of all outcomes and not a recommendation to sell, hold, exercise or transfer equity awards or company stock. Individual experiences will vary.

Morgan Stanley at Work services are provided by Morgan Stanley Smith Barney LLC, member SIPC, or its affiliates.

©2026 Morgan Stanley Smith Barney LLC. Member SIPC.

CRC# 5796651 (08/2026)