Before you can start granting options, you will need to create an Options Pool. You can learn more about creating Options Pools by clicking here.
To grant options to an investor, follow the steps below. You can grant options to both existing and new investors:
Click on the Registers link in the left sidebar.
On the Register page, select the Options tab in the navigation bar.
Click on the 'Grant options' button in the Optionholders panel (Image 1).
Image 1 - Options register
4. On the Grant options page, select the Existing Investor or New Investor Button (Image 2). Existing investors refer to those already in your shares, notes or options registers.
Image 2 - Grant options
5. If you are granting options to an existing Investor:
a. To search for a name of an existing investor start typing in the 'Name of Investor' box. A list matching the text entered will appear as you type. (Image 3).
b. Select the investor you want to issue the note to, and skip to step 7.
Image 3 - Select an existing investor
6. If you are granting options to a new investor:
a. Select from the following types of investor types:
Sophisticated
Crowd-sourced
Retail
Employee
b. Select from the following owner types:
Individual
Joint
Company
c. Enter the investor data
Options grant details
7. Select the Options pool that is being granted to the investor in the drop down menu. All the Option pools you have created will appear in this list (Image 4).
Image 4 - Options pool drop down menu
8. Enter the number of options to be granted.
9. The exercise price is pre-filled with the share price of the share class associated with the options pool. You can edit this field.
10. Select the vesting type in the drop down menu. You can select time based vesting or manual vesting (Image 5).
Image 5 - Vesting type
If you are select manual vesting:
a. Enter the date of grant and last exercise date.
b. Click 'Next'.
If you select Time based vesting (Image 6):
a. Enter the vesting period (months or years)
b. If you have a cliff period, select the 'Yes' option and:
Enter the cliff period (months or years)
The percentage to vest at cliff
The vesting interval after cliff
c. Enter the Date of grant and Last exercise date.
d. Click 'Next'.
Image 6 - Time based vesting
11. Review the transaction details and click the 'Save' button (Image 7).
Image 7 - Review options grant details
When you click 'Save', a 'Options granted' window (Image 8) will be displayed. You can choose to View the Investor or Grant more options.
Image 8 - Options granted window
The new investor will now appear in the Optionholders list on the Options register (Image 9)
Image 9 - Options register
You can now invite your new optionholders to BOULEVARD by following the steps here.
If you have already invited the investor, they will automatically be able to view the ‘Options’ as a new panel on their investor holdings page (Image 10).
Image 10 - Options panel on Investor holdings page
