San Francisco-based Credit Karma has agreed to pay a $160,000 penalty after the U.S. Securities and Exchange Commission found that the pre-initial public offering financial technology company failed to make proper disclosures to employees about its stock option plan.

Credit Karma, a company that helps consumers monitor their credit and provides them with personalized financial recommendations, issued approximately $13.8 million in stock options to its employees from October 2014 to September 2015, according to the cease-and-desist order obtained by the SEC Monday.

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