Granting, Exercising and Cancelling Options

Granting Options

You can grant options in Athennian by following these simple steps:

1. Navigate to the profile of the entity for which you would like to grant options;

2. Navigate to the Securities > Options > Transactions tab - Note: once you select the Options tab, ensure that you have selected the correct share class for which you will be granting options at the top of the screen;

3. In the Transactions tab, select + New - a list of various transactions will appear;

4. Select Grant of Options from the list of transactions - a workflow will open up;

5. In the Grant Details tab, enter the Grant Date in the appropriate field, and enter the number of shares you would like to grant options for in the Number of Options field 

6. Enter the Exercise Price per Option, ensure that the Currency is correct, and then add notes if necessary;

7. Click on Next or navigate to the Optioholding tab on the left, select either Create New Optionholder or Select from an Existing Optionholder, depending on whether you would like to grant options to an existing optionholder or an individual/entity who is not yet an optionholder;

8. If you choose the former, select either Person or Entity then select + Optionholder to select the new optionholder;

9. If you choose the latter, click Select Optionholding and choose the appropriate existing optionholder;

10. Click on Next or navigate to the Option Grant tab on the left, choose a plan and schedule from the Plan details and Vesting schedule fields. Enter the Sort Order, Ledger # and Option Grant Code. If the granted option is uncertificated, check off the Uncertificated Options field

11. Review the information and click on Draft

12. Click into the transaction, and set the transaction status to Confirmed.

Exercising Options

You can exercise options in Athennian by following these simple steps:

1. From the same Securities > Options > Transactions tab, select + New and then select Exercise Options from the list of transaction types;

2. In the Exercise Details tab, enter the Transaction and Resolution Date, and select the optionholder you would like to exercise options for;

3. In the Amount field, enter the Number of Options;

4. In the From field, select the Optionholding and certificate to be exercised 

5. In the Select Shareholding tab, select Create New Optionholder or Select from an Existing Optionholder, and select the appropriate shareholder;

6. Click on Next or navigate to the Share Issuance. Enter the Sort Order, Ledger # and Certificate Code. If the exercised options are uncertificated, check off the Uncertificated Options field

7. Select the Review tab, review the information, and select Exercise;

8. Navigate to the Securities > Shares tab, you will notice a new Exercise of Options transaction - check off the transaction and select Generate Selected to generate the supporting documents;

9. Once the documents are completed, navigate back to the Options tab and the Shares tab and change the statuses of the transactions to Confirmed.

Canceling Options

You can cancel options in Athennian by following these simple steps:

1. From the same Securities > Options > Transactions tab, select + New and then select Cancel Options from the list of transaction types;

2. In the Options Cancelled details tab, enter the Transaction and Resolution date;

3. Enter the number of options to be canceled,

4. In the Optionholding section, select the optionholder whose options you would like to cancel;

5. Check off the option number and enter the amount of options you would like to cancel;

6. Click on Draft in the bottom righthand corner - an Options Cancelled transaction will appear in the Transactions tab;

7. Select the Options Cancelled transaction and set its status to Confirmed.