Step 1: Begin by logging into your Eqvista account and select your company account here. You will reach the dashboard of the company profile. From here, click on “Securities” and then on “Equity Share Class”. You will then be directed to the page below.
We will click on our desired share class, as “Class A”.
Step 2: You will then be directed to the page with a list of all the share grants under this security type.
From here, we will click on “009” which is the share name for the security grant.
Step 3: 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 stated “Actions”. After clicking this, a drop-down menu will appear, and select the option as “cancel grant”.
Step 4: When you do this, a pop-up window will appear as below.
Note: If you cancel the grant, the shares will be returned back to the company but the transaction will remain in the records.
Step 5: After clicking “yes”, you will be redirected to the page where you will see the details of the grant along with a message that says that the grant is canceled and no longer issued in the company.
To see how it affects the secondary transactions, follow the next step.
Step 6: Click on “Cap table” and then on “Secondary Transactions” from the menu. You will reach the following page. From here, click on the last tab “Cancellations”.
And 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!