Secondary Transactions – Cancellation

Step 1: Begin by logging into your Eqvista account and select your company account. You will reach the dashboard of the company profile. From here, click on “Securities” and then on “Equities”. You will then be directed to the page below.

We will click on our desired share class, as “Class A”, and a list of all the share grants under this security type will show up. Let us assume that Henry Cook’s deal has been canceled. So, this means that the transaction here has to be canceled as well. So, for this, we will click on “CS-0101” which is the share name for the security grant.

Step 2: By clicking on this, you will be able to see all the details of the grant.

On the top right-hand side of the page, you will see a button stating “Actions”. After clicking this, a drop-down menu will appear. Here, select the option “cancel grant”.

Step 3: When you do this, a new panel would appear as below:

There would be a message asking, “Are you sure you want to cancel this grant?”.

To cancel the grant, you need to add the cancelation date. Once you do this, click on “Submit Cancellation”.

Note: If you cancel the grant, the shares will be returned back to the company but the transaction will remain in the records.

Step 4: After this, a new message would appear saying that you canceled the grant. You still get an option to restore the grant, in case you canceled the grant by mistake as shown below.

You can also re-issue the shares from Class A later on if you want to restore the grant. And with this, the grant is canceled.

To see how it affects the secondary transactions, follow the next step.

Step 5: Click on “Cap table” and then on “Secondary Transactions” from the left-hand main menu. You will reach the following page. From here, click on the last tab “Cancellations”.

You will see the details of all the cancelations in the company as well as the recent one we just posted.

To know more about how to use the Eqvista platform, check out the support articles here!