Template versions of your own option agreements can be used on the Vestd platform.
To setup an agreement template on Vestd there are a few things that will help get the best results.
Before being sent to recipients agreements are converted into pdfs, this conversion process can have difficulties if the formatting in your documents is broken or particularly complicated.
If the agreement has been converted from another document format or bits of text have been copied around resulting in mixed fonts and text sizes its a good indicator that there may be problems.
The document process can fill in pieces of information such as the recipients name, it cannot switch out pieces of text. If you have words or sentences that need to display only in some situations you will need to create multiple templates instead.
Option schedules should be summarised rather than being listed out, the Vestd app can insert numbers and words, its not able to insert new lines so please make sure the schedule isn't included in its entirety.
Option agreements are accepted digitally so signatures aren't required and should be removed from the document, we will provide you with the additional passages you will need to add to facilitate digital acceptance.
The templates support a wide range of variables allowing most documents to be converted, the current variables are listed below.
We will populate the variables for you but this will give you an idea of what is and isn't possible.
| Document Placeholder | |
| ${recipient name} | Recipient name |
| ${recipient address} | Recipient address |
| ${recipient email} | Recipient email |
| ${recipient ni} | Recipient NI (if applicable) |
| ${num shares} | Total number of shares for the option |
| ${exercise price} | The exercise or strike price |
| ${amv} | The valuation AMV (if applicable) |
| ${umv} | The valuation UMV (if applicable) |
| ${share class name} | The name of the class of shares the option is issued over |
| ${nominal value} | The nominal value of the share class |
| ${grant date} | The grant date for the option |
| ${start date} | The date vesting begins |
| ${vesting date} | The date vesting finishes and the option is fully vested |
| ${accepted date} | The date the recipient accepted |
| ${expiry date} | The option expiry date (if applicable) |
| ${cliff date} | The cliff date (if applicable) |
| ${cliff months} | The number of months after the start date the cliff occurs (if applicable) |
| ${cliff percentage} | The percentage of shares that vest on the cliff (if applicable) |
| ${tranche percentage} | The percentage of shares in a single tranche |
| ${tranche shares} | The number of shares in a single tranche |
| ${tranche period} | The time in months between tranches |
| ${final tranche shares} | The number of shares in the final tranche, this may be higher due to rounding |
| ${vesting years} | The number of years over which the option vests |
| ${vesting years word} | The number of years as a word i.e. four |
| ${criteria} | The criteria associated with the option |
When supplying us with a document please highlight or otherwise make it clear which fields are to be filled in, in the case of date fields please ensure the labeling makes it clear which date its supposed to be or make sure you mention this to us.
Our team, content and app can help you make informed decisions. However, any guidance and support should not be considered as 'legal, tax or financial advice.'