Find out the 3 main transactions that are relevant in case of an employee's departure.
1️⃣ The termination transaction, which is mandatory.
2️⃣ The exercise of Options by your employee, if he/she requests it.
3️⃣ The sale of the leaver's securities, if foreseen in your shareholder agreement.
Follow the guide! 🙋♀️
Add a termination transaction
💡 This transaction stops the vesting of the securities and triggers the exercise durations post-departure you indicated when setting up your security.
To create a termination transaction, you should :
1️⃣ From any page in your space, click on the + Add button at the top right of your screen and click on Transaction > Termination.
2️⃣ Enter the details of the termination transaction:
- The date of termination
- The account(s) affected by the termination
- The cause of the termination
- The new relationship of the account
Validate the specific terms of the transaction by checking for each security:
- The quantity vested
- The end of exercise period date
💡 If you have negotiated with the account holder a different quantity or end of exercise period date, you can indicate it in this step.
3️⃣ Add documents related to your transaction: you can import them from your computer or select them from your Equify library.
💡 This step is not mandatory, if you don't have any documents to add, you can go directly to the next step.
4️⃣ If you wish to have documents related to your transaction signed, set up the details of your signature.
5️⃣ Link your transaction to an Event (new or existing), then save!
The employee wants to exercise his Stock-options : the exercise transaction.
To create an exercise transaction, you should :
1️⃣ From any page in your space, click on the + Add button at the top right of your screen and click on Transaction > Exercise.
2️⃣ Enter the details of the exercise transaction:
Fill in the common information of the transaction :
- The date of the exercise
- The security exercised
- The security obtained
and the details for each exercise indicating:
- The account(s) concerned by the exercise
- The quantity exercised
- The conversion ratio
3️⃣ Add documents related to your transaction: you can import them from your computer or select them from your Equify library (Example : Exercise form)
If you wish to use our templating feature, you can add a template document at this stage which will be customised with your account/transaction information.
4️⃣ If you wish to have documents related to your transaction signed, set up the details of your signature.
5️⃣ Link your transaction to an Event (new or existing), then save!
The leaver is selling his securities : the sale transaction
To do this :
1️⃣ From any page in your space, click on the + Add button at the top right of your screen and click on Transaction > Transfer/sale
2️⃣ Enter the details of the exercise transaction:
- Type : sale
- The date of the transfer
- The security concerned
- The accounts involved: the seller and buyer in a sale, the transferor and transferee in a transfer
- The quantity of securities transferred
- The unit price or the total price of the transfer (the application will calculate the corresponding value).
💡You can record several transaction at once by adding one line per sale.
3️⃣ Add documents related to your transaction: you can import them from your computer or select them from your Equify library.
If you wish to use our templating feature, you can add a template document at this stage which will be customised with your account/transaction information.
5️⃣ Link your transaction to an Event (new or existing), then save!