Here is a step by step guide on how to setup and modify options on Eqvista.
Step 1: Log into your Eqvista account and select the company profile to issue the options from. From the dashboard, click on “Securities” on the left hand side of the dashboard to get a drop down menu. Here, click on “Option Pool” to reach the following page.
On this page, if you haven’t yet created any option pool, you will see the option that will allow you to create one. Here, click on the button that says “Create New Option Pool”.
Step 2: Once you do this, you will be to the next page where you can begin the process of setting up the option pool.
Add in the details like the underlying security, the class name, the shares reserved and the board approval date. Once you have filled in all the details, select the option “Submit”.
Step 3: By clicking on “Submit”, you will be directed to the option pool’s page as shown below.
On this page, you will see all the details of the option pool that you just created. In case you want to modify a part of it, you can do that as well. You can also delete the option pool. For editing the option pool, click on the button that says, “Action with Security” to get a drop down menu. There are two options under this:
- Edit Security Issuance
- Delete Security
Select the option “Edit Security Issuance” to modify the option pool.
Step 4: When you click on this, a pop up window will appear as shown below.
Edit the details you want to in this window and click on “Save”.
Step 5: When you click on “Save”, you will be taken back to the options page with the details updated as shown below.
Now, you can easily begin the issuing process and issue the options to the shareholders in your company. For this, click on the button that says, “Issue” on the right hand side of the page.
Step 6: Once you do this, you will be directed to the next page where you can begin the process of issuing.
At first, you will only see the option to choose the option class. As soon as you select the option class, a new box will appear that says “Add a Shareholder”. Click on this, and select the shareholder you want to issue the option to. In case the shareholder profile is not there, you will need to add the profile first.
Check out the support article here to add a shareholder.
After adding the shareholder, add in the other details like the date of issuance, the number of options issued, option type, exercise price, expiration period, and option name. You can select if there is a vesting schedule or not as well.
To know how to add a vesting schedule, check out the support article here.
When you are done filling all these details, click on “Submit”.
Step 7: You will be directed back to the page where you can see the option pool details and the person who has been issued options from this pool as shown below.
If you want to know more or understand any other process, check out the other support articles here or contact us today!