EquityList Product Updates

Buyback enhancements:

• When submitting a buyback request through their dashboard, employees can choose to receive the payment in their salary account or enter different banking information for the transaction - an important workflow for exited employees.
• In the 'Legal' > 'Templates' > ‘New’ section, we now offer customizable surrender letters for different employee groups, such as former and current team members.
  This way, letters for past employees can include their bank details, whereas those for current employees will not. This allows for two distinct templates that can be used in the same buyback.

Create and store RSU grant templates:

• Head over to ‘Legal’ > ‘Templates’ > ‘New’ to create and store RSU grant templates under a separate document category of ‘RSU Grant’. Keep things organized and easily filter between different template categories.

We've made several enhancements across various features by adding summaries, emphasizing important metrics, and simplifying the layout to make dashboards easier to understand and use.

(Under ‘Equity Awards’ > ‘Grants’) When you issue a new grant and specify the 'Grant Terms,' you can now input either the total grant value or the number of options, and the system will automatically calculate the other for you.

(Note: you must first enter a 'Grant Date' for this feature to work)

Company admins now have the option to pause vesting for option holders, such as in cases where team members are on personal sabbaticals or extended leaves.

Pausing a vesting schedule automatically modifies the vesting events to accommodate the pause duration.
E.g. for a 12-month vesting period starting from Jan 1, 2024—if the employee takes a 30-day leave in March—then their vesting period now moves forward from Jan 1, 2025 to Jan 31, 2025.

How does it work?

• On the EquityList platform, under ‘Equity Awards’ > ‘Grants’, select the relevant grant.
• Scroll down to the ‘Vesting Schedule’ section. You’ll see a ‘Pause Vesting’ option on the right.
• On clicking the ‘Pause Vesting’ button, you’ll be notified to select the start and end dates.
• Upon pausing a schedule, the grant page will refresh and you will see a revised vesting schedule with updated dates.

We’re excited to unveil an improved version of our ‘Valuations’ feature (find it under ‘Cap Table’ on the left-side menu).

It's a comprehensive single-view to track past and current valuations of your company (à la historical ledger, so to speak).

What’s new?

• With the nifty new view, we’ve highlighted three important pieces:
  1. Your company’s current fair market value (FMV),
  2. the number of days left till the current FMV is valid,
  3. a progress chart to visualize the growth in value of your company since it started, along with its post & pre-money valuation.
     
• The dashboard also shows details for each valuation like:
  • Effective Date (the date from which the valuation became effective),
  • Round Type (the funding round it applies to),
  • Valuation Type (how was the valuation determined e.g. through a merchant banker, registered valuer, 409A, in-house, etc.),
  • FMV Per Share (the FMV of a share calculated from its related valuation),
  • Option Pools (the valuation affects the FMV for which options pools; selected previously by you when adding a valuation), and more.
    
• Finally, if your company has also conducted a separate valuation for its stock options then you have the freedom to store that information too under the ‘*Options*’ tab.
  
  Important: If you apply the ‘Options’ FMV to an options pool, then it will overwrite the ‘Shares’ FMV that had previously been set for that same pool.

Rearranged items in ‘Cap Table’ for easier access and logical flow:

• You will now find Share Classes, Share Certificates, and Shareholders items combined under a single page called ‘Shares’.
• Similarly, Convertible Debt and SAFEs are now under a single page called ‘Convertibles’.

Updated how currency amounts are displayed on the EquityList platform:

• When a user selects a currency format, all amounts will follow the related international standard e.g. one million will be displayed as  ₹10,00,000 (India) and $1,000,000 (US)