Step 1: Begin by logging into your Eqvista account and selecting the company profile. Once you get to the dashboard of the company, click on “Cap table” from the left-hand side panel for the drop-down menu to appear.
Here select the option “vesting and plans”. Once you do this, you will be directed to the next page, as below.
On this page you will find all the vesting schedules that have been created in your company along with the use of any schedule for the issuance of shares to any shareholder.
Note: Just to be clear, you do not need to create a new vesting schedule for RSAs if you already have vesting schedules prepared as per your plan. You will place the restriction of the RSA when you are issuing the shares to the shareholder.
But in case you want to use a new vesting plan, you can create a new vesting plan by clicking on the “New Vesting Plan”. Find out more about how to create a new vesting plan here!
Step 2: Once you have the vesting plan ready, you need to begin the process of issuing shares to the shareholder from where you can choose the vesting plan. For this, you need to click on “Securities” and then on “Equities” to reach the following page where you can see all the equity classes.
Here, select the equity class from where you want to issue the shares and add the vesting schedule. In this case, we selected “ESOP”.
Step 3: Once you do this, the details for this equity class would show up.
Here, click on “Issue shares” from the top right-hand side of the page.
Step 4: You will reach the page where you can begin the process of issuing shares using a vesting schedule and placing the RSA restriction on the vesting plan.
Here you need to either select the shareholder whose profile is already there, by using the option of “search”. If you have not yet added the shareholder’s profile, you can click on “Add a Shareholder” to create a new shareholder profile.
In this case, the shareholder’s profile is already there, so we type in the name of the shareholder in the field to get the name on the right side. From here, click on “Select” beside the shareholder’s name.
Step 5: As soon as you do this, a new panel will appear where you need to add the details for the issuance. This includes the number of shares, the price at the time of issuance, the date of issuance, and the share name (share certificate number).
Once all these parts have been filled, there is a last option where you need to choose the “Vesting Schedule”. Select “yes” and another option will appear where you can then choose the vesting plan name from the list.
Step 6: In this case, we selected the “general plan”. Once you do this, two additional options show up – the vesting start date and the vesting restrictions as shown below.
When filling in all the details for the vesting restrictions part, you will get a list of three options where you need to choose the option “RSA”.
Once you have done this, click on “Submit”. The shares would have been issued using the vesting schedule you choose and placing the RSA restriction on it.
Step 7: You will be taken to the page where you can see the issuance made from the equity class.
Here, click on the share certificate name.
Step 8: Once you do this, you will be directed to the following page where you can see all the details of the plan including the restriction type placed on it.