You can bulk upload option grants that have been signed off Capdesk or options grants that are to be signed on Capdesk.
1. Register option grant issuances
The first step in using the import file feature to upload option grant issuances is to create an option plan. You can find a support guide on how to do this here.
Once you’ve created your option plans on Capdesk, you can now prepare an import file to get your options data on Capdesk.
Go to the Options page on the left hand side - Grants - and click on the grey Import grants button. Here, you can download a CSV file templated populated with examples which you can use as guidance by clicking on the Download Sample CSV File button.
In order to successfully import the CSV file, there are some required columns which will be listed below together with the non compulsory ones and their meaning.
|Column Name||If required||Explanation|
|first_name||compulsory||First name of the grantholder. Ignore if the grantholder is a company.|
|last_name||compulsory||Last name of the grantholder. Ignore if the grantholder is a company.|
|compulsory||Last name of the grantholder. Ignore if the grantholder is a company.|
|registration_number||compulsory||Only required if the grantholder is a company (rather than an individual person). We require the company registration number (typically found on Companies House if based in the UK). This is used as the unique ID for company stakeholders.|
|company_name||compulsory||The name of the company investor. Ignore if the grantholder is an individual.|
|country||compulsory||The country code of where they live. This will need to be in the format of ISO Alpha-2 (2 letters). (find a list with the relevant codes here)|
|stakeholder_category||compulsory||Add a category for your grantholder out of the following: Advisor, Employee, Founder, Other.|
|id||compulsory||A unique ID for the grant issuance transaction.|
|compulsory||Only compulsory for secondary transactions -The same number as the 'id' field when you are recording a secondary transaction (eg. cancellation, exercise) relating to that grant.|
|security_plan||compulsory||The type of plan the grant is on.|
|date||compulsory||The date of transaction (e.g. issuance, exercise, lapse).|
|quantity||compulsory||The number of grant (eg. options, warrants) associated to the transaction.|
|vesting_type||compulsory||The type of vesting for the grant:
|vesting_start||compulsory||The date of when the vesting starts. It is compulsory when recording a grant issuance regardless of the type of vesting.|
|vesting_on||compulsory||Compulsory for vesting type that is any of the 'automatic' types. When the vesting takes place: first_of_month same_date last_of_month|
|vesting_months||compulsory||Compulsory for vesting type that is any of the 'automatic' types, the number of months vesting will take place (this includes the cliff if applicable).|
|vesting_cliff||compulsory||Compulsory for vesting type that is any of the 'automatic' types, how long the vesting cliff is before vesting starts (typically it is 12 months so you will enter 12. It could also not have any cliff so you enter 0).|
|cliff_percentage||compulsory||Compulsory for vesting type that is any of the 'automatic' types, and there is a cliff. Typically it is 25% so you enter 25 (no symbols).|
|vesting_interval||compulsory||Compulsory for vesting type that is any of the 'automatic' types, how often the grant vests (after cliff if applicable). For example, if the grant vests monthly, you input 1, quarterly then you input 3 and annually then you input 12.|
|scheduled_date||compulsory||Compulsory for custom vesting type and could be used for vesting condition vesting type. This would be the scheduled date that the grant will vest on.|
|scheduled_quantity||compulsory||Compulsory for custom vesting type and vesting condition. This would be the scheduled amount of grant will vest.|
|vested_quantity||compulsory||Used for custom or vesting condition vesting type. To complete if the amount has vested.|
|document_template_set||compulsory||Only used for the online issuance feature. The name of the agreement template you have added on Capdesk.|
|exercise_price||compulsory||The exercise (strike) price of the grant|
|expires||compulsory||The date of when the grant expires. Compulsory for EMI and CSOP grants (typically expires after 10 years).|
|middle_name||non-compulsory||Middle name of the grantholder|
|address||non-compulsory||First line of the address (this includes the flat / house number and the street name).|
|city||non-compulsory||The city the grantholder lives in.|
|postcode||non-compulsory||The postcode of their address|
|registered||non-compulsory||The date of when the transaction entered the shareholder register (it usually is the same as the 'date' field). This date is required if you want to use the share certificates feature (you can add this on Capdesk).|
|exercise_price_currency||non-compulsory||If the exercise price currency is different from the share class then you can input the currency of what it should be e.g. USD.|
|price_currency||non-compulsory||For Grant Transfers (The price currency for the quantities)|
|price_rate||non-compulsory||For Grant Transfers (The exchange rate of the price)|
|adjust_expires||non-compulsory||Yes or no. Only used for the online issuance feature. If you would like the expiration date to change depending on the grant date then you can input yes. By default, it will be no.|
|adjust_vesting_start||non-compulsory||Yes or no. Only used for the online issuance feature. If you would like the vesting start date to be the same as the date of grant then you can input yes. By default, it will be no.|
|vesting_description_custom||non-compulsory||Here you can enter your own vesting schedule description.|
|condition||non-compulsory||Only applicable for vesting condition vesting type (not compulsory). You can fill what the condition (milestone) is e.g. increase revenue by XYZ.|
|accelerated_vesting||non-compulsory||Yes or no, is vesting accelerated?|
|is_notified||non-compulsory||Yes or no. If the grant has been notified to HMRC. Only applicable for certain types of plan e.g. EMI.|
|notified||non-compulsory||Date of notification to HMRC if applicable.|
|reason||non-compulsory||Only compulsory when recording a secondary transaction - cancellation:
|employment_related||non-compulsory||A security is employment related, when it is deemed that a person acquires it by reason of employment. If marked, it will be included in the Other ERS Annual Return.|
Once you’ve downloaded the spreadsheet, it is populated with examples. In the screenshot below you can see how to record different types of transactions for option grants based on the template example.
2. Register option grant exercises
To record an 'exercise' you will need to fill in specific cells on a different row to the issuance one, as below:
- 'grant_id” - input the 'id' of the optionholder.
- 'date' - the date of the exercise.
- 'registered' - the date the shares are entered into the share register. Can be left blank
- 'quantity' - the amount you want to exercise.
- 'reason' - always enter exercise.
3. Register option grant cancellations (lapses)
To record a lapse you will need to fill in specific cells on a different row to the issuance one, as below:
- 'grant_id' - input the 'id' of the optionholder.
- 'date' - the date of the lapse.
- 'quantity' - the amount you want to lapse.
- 'reason' - reason for the lapse.
- 'note' - always enter lapsed.
Once you have finished adding the data on the spreadsheet, save the file as .CSV. In order to upload the file, navigate to Options - Import grants - Select file to import.
The system will now begin to process the file. This might take a while depending on how long your list is.
If there are any errors in the import files you will see the message below:
Click on Download Processed CSV to download a CSV sheet showing you the relevant errors. When you open the file, you will only need to look for the errors column and click on each individual error to find the explanation of what is wrong or missing.
In the above example, the error message suggests the option plan has not been specified. You will need to update this in the original import file (the one you have created previously) and once done, re-import it using the steps mentioned above. Continue this process until the system approves.
When successful, you will see the below message:
Please note, all the data will be saved in Draft mode, for you to Review. In order to do this, click on Review imported data.
If however you are not happy with the data and wish to remove the file import, select Delete imported data.
Once you are happy with the data and wish to Publish, go to Imports on the left hand side (under Status) and click on the relevant import file. This can be found under the relevant transaction type category (eg. Shares, Option Grants, Share Grants) and can be differentiated by the date of the import (the file's name will be the date and hour the file has been imported).
You will then be taken to the Review and Publish page where you can select Publish imported data and all transactions will automatically be published. By clicking this button please note an invitation email will be sent to all the investors added in the import file!