Step 1: Begin by logging into your Eqvista account and selecting the company profile you want to make the changes to. Once you get to the dashboard of the company, click on “Cap table” from the left-hand side panel for a 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 go back to the dashboard by clicking on “Dashboard” on the left-hand side menu and then click on “Issue” in the Ownership panel on the Dashboard as shown below.
A drop-down menu will appear when you click on “issue” with three options as shown above. Since we are issuing the award from the shares, choose “from shares” in the drop-down menu. After you click on this, you will be directed to the next page.
Step 3: 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. Select the share class from where you want to issue the shares and then click on “Add a Shareholder” as shown below.
Step 4: As soon as you do this, a drop-down page will appear. Add in the details like the name of the shareholder (from the list provided), the date of issuance, the number of shares issued, the price at the time of issuance and the share name (share certificate number).
Once all these parts have been filled, go to the part with “Vesting Schedule”. Select “yes” and another option will appear where you can then choose the vesting plan name from the list. 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.
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 5: Now, go back to the vesting schedule page and you will be able to see the plan, as shown below.
Here, click on the shareholder name that you just issued shares to, with the vesting schedule to see the complete plan.
Step 6: 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.