EquityList Product Updates

Employees can now easily switch between their desired currency preferences on their dashboards.

While it’s still possible to set a default currency setting for your employees from your company dashboard settings, employees now get the added ease of switching between currencies seamlessly.

We have a new e-signature uploader with better UX. You can now quickly resize your e-signatures with better aspect ratios without worrying about resizing them yourself!

Intercom in-app chat is now embedded in our web app for easier and quicker interaction with our support team! Stay tuned for feature releases and easier FAQ support directly through Intercom.

You can now grant ‘cap table’ only access to your team. With this permission, they could only view and perform actions on the company’s cap table, shareholders, and data rooms.

It’s never been easier to navigate through complex cap tables and view historic versions at a click. You can track all your prior convertible securities, secondaries, and ownership changes.

Note: Funding rounds need to be mapped accurately to share classes and transferred share certificates for you to view the historic version. You can reach out to us in case of any assistance.

This feature provides an additional layer of security and accuracy to ensure that all grants are reviewed by an authorized signatory before their execution and issuance.

• Company admins can restrict e-signing capability for ESOP/SAR permission levels
• ESOP managers can now queue multiple grants for signatures and send an email notification to authorized signatories to execute the loaded grants
• Signatories simply need to upload their signature and process bulk-grant execution
• Managers can also request authorized signatories to execute one-off grants

This new flow makes it extremely easy for authorized signatories (founders and executives) to execute option grants with an inbox notification.

Reports with enhancements:

• ESOP Scheme Report
• ESOP Grant Report
• ESOP Grant Vesting Report
• SAR Scheme Report
• SAR Grant Report
• SAR Grant Vesting Report

Additionally, company admins will now receive Grant and Vesting reports directly in their inboxes when they click on export options.

When granting ESOPs to your employees, Indian companies need to maintain a Register of Employee Stock Options. This register contains the details of the employee name (holder), grant ID, number of options granted, date of options vested, exercise period, and more.

Please note: This is a statutory requirement under the Companies Act of India, making it mandatory for these registers to be maintained. Your secretarial team can now easily download the SH-6 report with all the mandatory information pre-filled, sharing hours of reconciliation and coordination!

What's new?
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Admins can now select the preferred settlement option for their SAR pool. Choosing ‘share- based' settlement will now impact your fully diluted cap table, whilst cash won’t.
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Company admins can now easily regenerate vesting for grants in bulk.

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What's new?

• Bulk upload shareholders: save time and instantly upload bulk shareholders in one go!
  
• Bulk upload of share certificates: bulk upload multiple share certificate information in one go!
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We released new features to elevate your SAR management experience on EquityList:

• New permission level for a SAR Manager: now invite team members to only manage SAR plans and grants.
  
• Add units-to-share ratio in your SAR pool: Like other option plans, you can now add units-to-share ratio to increase the number of units in the SAR pool.
  
• Bulk upload SAR grants: You can now bulk upload multiple SAR grants at once via a CSV sheet
  
• Grant Letters now mention the role: Many startups are issuing SAR grants to employees, advisors and contractors. SAR grants will now mention the designated role of the recipient

Employees will now receive EquitySlips on completing either a time-based or a performance-based vesting event.

Vesting events signify a considerable milestone in the employment journey but often go unnoticed and un-celebrated. Many companies report that employees mostly lose track of their vesting cycles and thus aren’t able to appreciate their value.

Introducing EquitySlips: Employees will now be notified over email upon completing both time-based and performance-based vesting events, breaking down the number of units vested on a particular date along with their estimated values:

• EquitySlips get generated on vesting events for both ESOP and SAR grants
• EquitySlips get customized with your company logo
• All grant-level values are fetched directly from the platform
• Depending on the vesting schedule of the grant (monthly, quarterly, or yearly), the slips will get triggered accordingly
• Employees can also find their EquitySlips in their employee dashboard

We further intend to add insightful information on these slips to keep employees informed about the performance of their grants. More updates on this soon.

Admins can now mark grants as lapsed for terminated employees post their expiry without the EquityList team’s assistance!

You can also track upcoming expiry for terminated employees due to time-based or event-based expiries (ie - board approval, not participating in a liquidation event, etc) and lapse the vested units that haven’t been exercised.
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• Lapsed units go back into the pool and the active grant gets canceled
• Employees now get an email when marked ‘terminated’, listing all their active grants and their corresponding expiry period
• Upon ‘lapsing’ of units by a company admin, all the admins get notified along with the employee with an intimation of the same
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Note: the platform will not automatically lapse units unless approved by an admin.

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Startups managing their ESOPs on EquityList can now directly download ESOP Expense Reports following the graded-vesting method.

Equity Grants --> Report --> ESOP Expense Reports‍

Startups registered in India should comply with Indian Accounting Standard 102 (IndAS 102) to report ESOP expenses as recommended by the Institute of Chartered Accountants of India (ICAI). IndAS 102 establishes uniform accounting principles and practices for all types of share-based payments toward employees and non-employees for Indian companies.

As options/shares are usually granted to employees across a graded vesting schedule, this report needs to account for the cost incurred by the company for each vesting group.

When terminating an employee, the platform will prompt you to add the exercise period if you haven’t set one by default. You can add an Exercise Period on both the scheme level and on a grant-by-grant basis in case of any exceptions.

CCPS is a type of preferred share/stock that gives holders the option to convert their preference shares into a fixed number of equity shares of the issuing company after a specified date.

You can now add up to 6 decimal places for CCPS:Equity ratio when setting up a new share class.

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• Clean UI and platform experience, easier to navigate
• Actions Board added to highlight any pending actions from an employee’s end or important company notifications
• Enhancements to data validations when submitting a new Exercise Request
• Revamped ‘Value Calculator’

• You can now use the admin activity log to audit and investigate admin-related events
• View records of actions performed by individual admins across different suites with corresponding time stamps
• Apply admin-wise filter and export as a .csv file

• Track the number of grants executed, pending, or in the draft stage
• Breakdown of reasons for pending grants that require your immediate attention
• Number of employees invited
• Data Room usage and view count
• Investor Updates sent, and more.

We have currently released a beta version and have focussed on Equity Grants, Investor Communication, and Data Rooms for the time being.

We plan to add a lot more insightful graphs and metrics in the coming days to empower your equity management oversight and decision-making.

• # of new grants issued and breakdown of their status
• # of new share certificates issued
• Status of pending grant executions
• Data room activity
• Investor update activity