Step 1: Start by logging into your Eqvista account and choosing the company profile you want to issue shares to after creating the time-based vesting plan. As soon as you get to the dashboard, click on “Cap table” from the left-hand side of the panel, and choose “Vesting and plans”.
You will then be directed to the next page as shown below.
Here, click on “Create Vesting Plan”.
Step 2: Once you do this, you will be directed to the next page.
Here, you will first have to select the vesting type. For this, click on the field beside the option and in the drop-down list, select “Advanced: Time based”.
Note: The time-based vesting plan means that the person would be able to earn the options or shares over time, as per the plan.
Step 3: As soon as you select this, a drop-down window will appear where you can then fill in the details for the plan.
You will first have to add the name of the plan, which in this case is set as “Time-based plan 1”. After that, you will have to create the plan by filling in the details for each period. For each period, add in the length of the period, the frequency, vesting schedule and percentage, according to your needs. To add the next period details, click on the “+” sign on the left-side below it.
Just like this, add in the number of periods and the percentage of shares that would be given out in that year. Ensure that the total percentage given out for the complete plan is 100% as shown on the bottom left side.
Just to explain better, the percentage here is the percentage of shares that will be vested once the period has been fulfilled. You will also notice that the “Submit” button can now be clicked. Click on “Submit” once your plan is in place.
Step 4: You will then be redirected to the page where you can see all the vesting plans you have along with the plan that you just created.
From here you can now use this plan to issue shares to your employees or shareholders as per your plan.
Note: Learn how to add a vesting plan while issuing shares to a shareholder here!
And just like this, you can easily create a time-based vesting plan. To know more about how to use Eqvista, check out the various support articles here!