Adding Members and Issuing Units in LLC Company

Once you added an LLC company to your Eqvista account, you can add members and issue units to them.

Here are the steps to follow:

Step 1: Log into Eqvista and select your company account.

On the dashboard, click on “Members” on the left side or select “All Members” to view the members of the company.

Step 2: On this page, click on the “Add Members” on the top right side of the dashboard.

Note: You have 20 members in your company account and if you want to add more, you will need to subscribe to the premium!

Step 3: Once you click, a panel will appear where you can add the details of the person.

By default, the option “Individual” is selected and filled in the details – first name, last name, and member type. 

Step 4: With this, the member profile is added to the company account.

Step 5: Suppose you want to issue units to the member. To do so, click on the member’s name and you will be redirected to the below page. 

Here, click on “Start Issuing” under the transactions panel. A drop-down menu will appear and select “from Equity Class”. 

Step 6: You will be redirected to the next page to select the equity class from the list available.

Note: On the list, click on “Create New Security” to create an equity class and if one is created, you can issue units and implement a vesting schedule. 

In this case, we will click “Seed” and click on “Add New Grant”.

Step 7: Here, you can search for a member or add a member from here directly.

Note: You can also add the member profile while issuing units, options, and warrants by choosing the option “Add New Member”.

In this case, we already have the member profile and type in the name of the member in the search field. The name will appear on the right with a “Select” button and click on it.

Step 8: Once you click, you will be directed to the next page to issue units.

Fill in the details such as the number of units or select the option anti-dilution, price per unit, the capital committed, the date of issuance, and the share name. The capital committed will be automatically filled based on the product of share amount and price per share. 

Add in the details and select if you need a vesting schedule or not. 

Note: There is an option to implement a vesting schedule while issuing units, options, and warrants. Additionally, create your vesting plan or choose from six default plans. To know about vesting plans, check out the support article here!

In this case, select “No” for the vesting schedule.

Once done, click on “Submit”.

Note: If you want to issue units from the same class to more than one member, click “Add New grant”. Then select the member profile or add one and fill in the details.

Step 9: Then, you will be redirected to the equities page where you can see the issuance under the equity class. 

Then, click the grant name to view the unit details. In this case, click the grant name “S-002”.

Note: You can perform secondary transactions by clicking on “Actions”. To know about secondary transactions, check out the support article here!

For more information on Eqvista’s features, check out our support articles or contact us today!