How to exercise options

The platform allows the recipient to exercise all options that have vested and are exercisable.

If options are “exit only”, it is also possible for the company to switch them to exercisable, so long as that is covered by the terms of the agreement.

The recipient chooses via their portal how many of their exercisable options to exercise, and can see what that will cost. The company is informed of this by the platform. The company then confirms via the platform that they have received the relevant funds and the exercise process can go ahead.

The exercise process automates the production of the SH01 and sending it to Companies House, as well as the generation of a share certificate to be sent to the designated Directors to sign via DocuSign. In addition, the relevant options in the recipient and company portal are turned into shares, and the cap table is updated accordingly with the new shareholder.

If the exercise price has been set below the AMV agreed with HMRC at the time of grant, the company is reminded that an ITEPA 431 election may be required at this point. This needs to be completed off platform.


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