EquityList Product Updates

1. Overall improvements to share transfer flow

Under Cap Table > Shares > ‘Share Certificates' tab, whenever a new ‘Transfer’ is initiated, our platform has now put in fields to capture ‘Reason’, ‘Round Stage’, and ‘Transfer Date’ (’Rule 144 Date’ for US companies), applicable to all shareholders.

• On a successful transfer, you will see the particulars mentioned under the ‘Transferred To’ section and the original share certificate will be marked as canceled.

2. Bulk invite shareholders to their EquityList dashboards

You can now bulk invite shareholders to their EquityList dashboards to track all the securities assigned to them.

• Add a custom message that will be part of the invitation email
  
• Track the shareholders that you have invited

• When terminating an employee on EquityList, by default a system-generated email gets sent to the exited employee, summarizing their vested units.
  
• Now, you can also choose to send exit letters which get triggered on resignation, summarizing the stakeholder's vested options and requesting a counter-signature.
  
• Admins can also create their own exit letter templates under Legal > Templates.

Cap table administrators will now feel a lot more equipped when looking to study their cap tables in detail.

We’ve applied enhancements to:

• Search: Directly search for the cap table entity from the search bar on top.
  
• Filters: Apply filters to the cap table to view shareholders, employees, option pools, or even at a share class level.
  
• Reporting: Enhanced cap table reports, formatted for clarity.

[Psst, we’ve also upgraded the Cap Table > Fully Diluted page to load faster. Try it out!]

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[Note: You’ll now find Vesting Templates under Equity Awards in the left-hand menu.]

We have completely revamped vesting templates for our customers to support customization and complex vesting schedules.

1. When adding/creating a new vesting template, you now get:

• Customizable vesting schedule: Select between ‘Standard’ and ‘Custom’ types to create the desired schedule.
  
• New duration intervals: ‘Vesting Duration’ and ‘Cliff Duration’, now both support daily, monthly, quarterly, and yearly durations.
  
• Immediate vesting: When issuing a new grant, you can select to immediately vest a percentage of the total grant, e.g. “20% immediate vesting upon grant date and 80% split across 4 years.”

2. Introducing ‘Performance Conditions’:

You can now create multiple performance conditions for vestings and link them with a vesting template.

This feature enables batch creation of grants tied to specific performance requirements, including customizable payout ranges.

E.g. “$3M ARR by Q4 2024, vesting payout between 50% and 100%.”

You can also realize these conditions by specifying the vesting payout (percentage of goal achieved) to vest units in bulk for all grants linked to a performance condition template.

3. Creating custom vesting templates:

You can now completely customize your vesting templates as well. This includes:

1. ‘Performance Based Vesting’: Define milestones, vesting percentage, and link performance conditions.
   
2. ‘Time Based Vesting’: Create your own time-based vesting schedules and link them to a performance condition as well.
   
   [Note: When linked with a performance condition, the vesting will only be completed once both time duration and performance conditions are met.]
   
3. ’Manual Vesting’: Create templates where you get to decide when to vest. With this option, vesting events occur only when you manually trigger them at the grant level.

Give it a try!

You can now issue and track warrants from EquityList

Find them under Cap Table > Warrants.

What does this release bring?

• Clear visibility into tracking issued warrants (recording warrants, exercise, expiry, and more).
• Streamlining administrative tasks associated with warrants like documentation, reporting, and compliance with accounting standards.
• A single comprehensive solution to manage all aspects of equity including stock options, convertibles, RSUs, and now warrants.

[Refresher: A warrant is an agreement between two parties that gives one party the right, but not the obligation, to buy the other party’s stock at a set price, over a specified period of time. Once a warrant holder exercises their warrant, they get shares of stock in the issuing party’s company.]