Step 1: Log into your account on Eqvista and select the company profile. From here, you will be directed to the dashboard of the company where you can then begin the process.
When you reach the dashboard, 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 shared below.
As soon as you get here, you will see the various vesting plans that you have created in the company if there are any. From here, click on the button that says “New Vesting Plan” that is on the top right-hand side corner.
Step 2: After this, you will then be directed to the next page as shared below.
The very first thing that you will need to do is selecting the “vesting type”. There will be four options in the drop-down menu, namely:
- Advanced: Time based
- Advanced: Milestones
- Advanced: Hybrid
In this case, we selected the option “basic” to help you easily understand the example.
Step 3: Once you do this, a drop-down window will appear with many fields to create the vesting plan. You will have to begin by adding a name for the plan as shown below.
Additionally, you will have to add details such as:
- Vesting Period (months): This is the amount of time for which the plan will continue.
- Cliff (months): Length of time before the first part of the award is awarded.
- After cliff, vest every (months): Time intervals when the next percentage of shares are awarded to the shareholders.
As soon as you are done with filling in all the details, click on “Submit”.
Step 4: Once you do this, the plan will be created. You will be directed back to the page where you can see all the vesting plans, as below.
Just to be clear, the vesting plan will not include the vesting restrictions, as this will be applied later in the share issuance. When you begin issuing the shares using the vesting plan, you will then be able to use the option of RSUs. The next steps will help you in doing it.
Step 5: Once you issue shares and apply the vesting schedule to the share certificate, you can select the option of the vesting restrictions.
Note: To find out how to issue shares, check out the support article here.
As soon as you select the vesting schedule name as shown below, some additional options would appear.
These additional options will include the vesting restrictions and vesting date. The vesting restrictions’ section is where you add the restrictions of RSU on the vesting plan you are using.
Once you have selected the options, click on “Submit” and your share issuance will be completed.
Step 6: As soon as the shares have been issued, you will be directed to a page that shows the vesting plans. You will have to select the name of the shareholder that you just added the vesting schedule with issuing shares, as shown below:
Step 7: When you click on this, you will be directed to the page where you can see all the details of the issuance you just made along with the vesting schedule details. You will also be able to see the type of restriction placed on the vesting plan is “RSU”, as shown below: