Adding a grant

After you have added your first option pool, you can then start issuing grants to reward and incentivize your employees

To create a grant, you just need to:

Once you've done so, the following screen will appear:

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Beneficiary - Select your employee/beneficiary from the list of stakeholders (you can also create a new stakeholder to be awarded the grant directly from here)
Grant from - Select from which Option Pool you'd like to grant the beneficiary his/hers options
Grant amount - The total number of Options to be granted to the beneficiary
Grant date - The starting date of the Grant contract

GRANT DETAILS

Strike price -the price the beneficiary can pay for an Option exercise his/her right to turn that Option into a share
Vesting type - can be either Time based (and a vesting schedule must be selected) or Immediately vest (this means the options will be immediately vested to the beneficiary, without requiring time to have passed)

TIME BASED GRANT DETAILS

Duration - the total amount of time expressed in months after which the beneficiary will have vested his/her total amount of Options
Vest every - The frequency at which a portion of the equity grant becomes available for the beneficiary to exercise (if 1 MONTH selected, that means every month an amount of Options will vest).
Rounding - up / down - since options are 1:1 shares, and there can’t be a fractional amount of shares, neither can options. So in case a natural number of shares can’t be issued each month, you need to take a decision whether you should round up or down when doing this calculation (it’s better for your employee if you choose to round up, since s/he will get more options up front)
Cliff - A cliff period is a duration at the beginning of an employee's vesting schedule during which they do not receive any equity. After the cliff period ends, the employee is eligible to receive a portion of their equity grant.
Exercise period - The period of time during which an employee can exercise their vested options. Once the exercise period expires, the option can no longer be exercised.
Accelerated vesting - Toggle ON to allow employees to gain full ownership of equity compensation earlier than scheduled in case of a specific event like a merger, acquisition or retirement.

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After creating a grant to one of your employees, the following table will appear on your Option Pools screen

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Option holder - shareholder/employee who owns the grant
Pool name - from which option pool the options to be awarded to the option holder come from
Grant # - number of the grant the shareholder received
Date - Date when the option contract starts
Vesting schedule - ex 24/1/6 - 24 - total duration / 1 - vesting period (every 1 month) / 6 - cliff period (6 month cliff)‍
Granted - total options to be awarded by the grant
Vested - Number of Options that have vested till today based on the vesting schedule‍‍
‍Outstanding -Gives you the number of Options that are still held as Grants (Outstanding = granted - exercised - terminated - expired)‍
Exercisable - Number of Options that are still left to be exercised (auto calculated: Exercisable = Vested - exercised - settled - terminated - expired
 Exercised -sum of grants exercised  by beneficiary‍
Settled - sum of beneficiary's grants settled in cash  and not shares if any‍
Terminated - sum of beneficiary's terminated grants if any
 Expired (auto calculated) based on expiration period of grant (defined when creating the grant)

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Note:

After issuing a grant to your employee, s/he will be able to view it from their dashboard and have a better understanding of the value of their options and when they will vest

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