Correcting Issued Equity Awards (Individually)

You can correct errors made while registering equity awards on Capdesk.

You can also bulk correct grants, if multiple corrections to multiple grants are necessary.

The corrected grant details will be effective as of the grant issuance date. If you want to make a modification at a certain point in time, process a grant amendment. For the purpose of this article, we will use the cancellation of option grants as an example. Please, bear in mind that the same process is valid for Share Grants, Warrants, RSUs and Phantom Shares.

You will see a full list of fields that can be modified in the end of this article:

1. Options grants
2. Share grants
3. Warrants
4. Phantom shares
5. RSUs

1. Go to Equity Awards > Options (or applicable equity award type) > Grants.

2. Locate the grant that needs to be corrected and click on the Action button on the right-hand side of the grant.

3. Click Change grant details.

4. Click Correct details.

5. Adjust the information that needs to be corrected, add a Reason for correction and click Publish correction.

Processing a correction will trigger a notification to the grantholder. Grants with secondary transaction must have them revoked prior to being corrected.

You will be able to correct the following details:

Option grants

• Equity plan.
• Grant date.
• Exercise price - It is the price, the grantholder has to pay per share when they exercise the grant.
• Options - The number of shares the options are granted over.
• Vesting schedule.
• Enable exercise from grant date - If the grantholder is allowed to exercise from grant date, whenever anything is vested.

Share grants

• Share plan.
• Grant date.
• Registration date.
• Use company valuation as hurdle - The hurdle for a share grant can either be specified as a hurdle for each share or as a hurdle for the total value of the company. The hurdle price should be a hurdle for the total value of the company if this checkbox is ticked.
  
• Hurdle price and Currency for hurdle price.
• Shares - Number of shares to grant.
• Vesting schedule.
• Advanced information - Valuation, Consideration, Restrictions, Notes and Documents.

Warrants

• Warrant Plan.
• Grant date.
• Currency for exercise price.
• Exercise price.
• Warrants - The number of shares the warrants are granted over.
• Expiration date.
• Is Employment Related - A security is employment related, when it is deemed that a person acquires it by reason of employment.
• Vesting schedule
• Enable exercise from grant date - If the grantholder is allowed to exercise from grant date, whenever anything is vested.
• Advanced information - Valuation, Consideration, Notes and Documents.

Phantom shares

• Phantom share plan.
• Grant date.
• Currency for hurdle price.
• Hurdle price.
• Phantom shares - The number of shares the phantom shares are granted over.
• Expires.
• Is Employment Related - A security is employment related, when it is deemed that a person acquires it by reason of employment.
• Payment schedule - Type, calculation method, share price valuation and payment factor.
• Vesting schedule.
• Advanced information - Notes and Documents.

RSUs

• RSU plan.
• Grant date 
• Conversion price and Currency for conversion price
• RSUs - The number of shares the RSUs are granted over.
• Expires.
• Is Employment Related - A security is employment related, when it is deemed that a person acquires it by reason of employment.
• Vesting schedule.
• Advanced information: Valuation, Notes and Documents.