Learn how to grant, exercise, and release options in Athennian!
Granting Options
When options have been granted to an Optionholder, enter that transaction in Athennian by using the following steps:
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Navigate to the profile of the entity for which you would like to grant options
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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 -
In the Transactions tab, select + New - a list of various transactions will appear
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Select Grant of Options from the list of transactions - a workflow will open up
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In the 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
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Enter the Exercise Price per Option, ensure that the Currency is correct, and then add notes if necessary
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Click on Next or navigate to the Optionholding tab on the left
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Select either Create New Optionholder or Select from an Existing Optionholder.
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To add a new Optionholder, select either Person or Entity then select + Optionholder to select the new Optionholder
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Or, to select an existing Optionholder, click Select Optionholding and choose the appropriate existing Optionholder
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Click on Next or navigate to the Option Grant tab on the left
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Enter the Sort Order, Ledger #, and Option Grant Code
Note: If the granted option is uncertificated, check off the Uncertificated Options field. -
Select the appropriate details for the Plan Details and Vesting Schedule fields
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Review the information and click on Draft to create the transaction
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Click to open the transaction, review the details, and if correct, set the transaction status to Confirmed.
Exercising Options
When an Optionholder has decided to exercise their options, enter that transaction in Athennian by using the following steps:
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From the same Securities > Options > Transactions tab, select + New and then select Exercise Options from the list of transaction types
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In the Exercise Details tab, enter the Transaction and Resolution Date, and select the Optionholder you would like to exercise options for
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In the Amount field, enter the Number of Options
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In the From field, select the Optionholding and certificate to be exercised
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In the Select Shareholding tab, select Create New Optionholder or Select from an Existing Optionholder, and select the appropriate shareholder
- Click on Next or navigate to the Share Issuance. Enter the Sort Order, Ledger #, and Certificate Code.
Note: If the Shares Issued from exercised options are uncertificated, check off the Uncertificated Options field -
Select the Review tab, review the information, and select Exercise
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Navigate to the Securities > Shares tab, and a new Exercise of Options transaction will now appear in the Shares for the same Class.
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Click the checkbox on the left to select the transaction, then click on Generate Selected to generate any supporting documents
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Once the documents are completed, navigate back to the Options tab
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And the Shares tab, open the Exercise transaction, and change the statuses of the transactions to Confirmed.
Releasing Options
When options have been released (or canceled), enter that transaction in Athennian by using the following steps:
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From the same Securities > Options > Transactions tab, select + New and then select Release Options from the list of transaction types
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In the Options Cancelled Details tab, enter the Transaction and Resolution date
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Enter the number of options to be released/canceled
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In the Optionholding section, select the Optionholder whose options you would like to release/cancel
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Check off the option number and enter the amount of options you would like to cancel
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Click on Draft in the bottom right-hand corner to save the transaction
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An Options Cancelled transaction will appear in the Transactions tab
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Select the Options Cancelled transaction and set its status to Confirmed.