How to Partially Exercise Options?

After issuing options in Eqvista, it is possible to partially exercise the options that have been issued to a shareholder. 

Here are the steps to follow:

Step 1: Log into your Eqvista account and select the company account to partially exercise options. 

On the dashboard, click on “Securities” on the left-hand side to get a drop-down menu and click on “Options”. 

Note: Warrants can also be partially exercised. Check out the support article to learn how to partially exercise the warrants. 

Step 2: Once you click, you will be redirected to the following page. 

Note: On this page, click on “Create New Class” to create an option class and if you have created one, you can issue options and implement a vesting schedule.

Then, click the option class created to get the overview of the class and list of shareholders issued under the class along with details such as grant name, options, price, ownership, and status. In this case, click on “Option Pool 2”.

Step 3: For instance, click on the grant name “OP2-002” to partially exercise the issued option and you will be redirected to the option grant details page. 

Here, click on “Actions” on the right-hand side to get a drop-down menu and select “Exercise to equity”.

Step 4: By doing this, a new window will appear. The first step is deciding whether it will be a partial or full exercise. The given exercise price will automatically be used for the conversion. 

In this case, we have selected partial exercise and the equity class to where the shares would be given. Next, enter the number of options to exercise, and the number of options left will be displayed automatically. To partially exercise the maximum amount of options, click “Max Amount”. Then, the exercise date and exercise grant name will be automatically filled. If the exercise date is not today, then you can edit it.

Note: You can also exercise all the options issued to you by clicking “Full Exercise”. Check out the support article to learn how to exercise all the options.

Once done, click on “Submit Exercise”.

Step 5: With this done, you will be redirected to the next page where the share amount has been updated.

Step 6: If you want to see the exercised options, click on “Securities” and then on “Equities”. Once you get here, click on the “Founders” equity class since the options are exercised in this class.

For more details on the grant, click on the grant name “Exer from OP2-002”.

Step 7: Then, you will be redirected to the next page where the option has been exercised. 

Step 8: The record of the exercised grant can also seen by clicking “Cap Table” on the left-hand side to get a drop-down menu. Then, click on “Secondary Transactions” and you will see all the transactions – Exercises, Transfers, Note conversions, Repurchases, and Cancellations. 

On this page, click on “Exercises” to check if the grant is partially exercised.

For more information on Eqvista check out our support articles or get in touch with us today!