How to record an equity grant in the product

Pre-requisite

If you are adding equity grant information for the first time, you must add your company equity plan details on the platform first. Click here for a guideline on adding company equity information.

How to record an equity compensation in the product

Please follow the guideline for the case that applies to you:

• Case 1: You haven't granted equity to your Oyster team member yet
• Case 2: You already granted equity to your Oyster team member

Case 1: You haven't granted equity to your Oyster team member yet

Leave this box unchecked: This team member's equity grant has already been issued and approved by the board in accordance with our equity plan

1. Go to the Equity compensation page
2. Click on Add team member equity details
   
3. Select the Team Member
4. Check if the selected team member is participating in an equity plan offered to all customer employees and non-employee under one group plan or a separate one
5. Select the equity type (Select " Stock Options " to see more options like NSOs and Phantom Stock)
6. Click on continue
7. Enter the Grant Details and Vesting Schedule
   • As a default, the vesting schedule is prefilled with the information you provided when you input your company equity plan details. You can edit this by unchecking the box that reads: Use vesting schedule preset.
   • For [ Time period of award ], " Recurring " means the same grant with the same vesting schedule will be made every year - in other words, annually. 
8. Click on continue
9. Check and validate that the summary corresponds to the equity grant you intend to make. Make sure you carefully read the compliance notice for any additional actions you may need to take.
10. Click Finish once you're done reviewing. Please note you cannot undo or edit the equity award by yourself after clicking Finish  - reach out to customer support if you need to undo or edit details.
11. In the next step, a letter of intention to grant equity is automatically generated with the equity details you provided. Review the letter.
12. Click on " Send for signature "  once you're done reviewing.
13. You and the Team Member will receive a notification to sign the document.
14. Once signing is complete, you can find the signed letter in the Equity compensation menu for the respective team member.
15. All that remains is for you to effectuate the equity grant by getting approval from your company's board of directors and shareholders. The shares issued must also be recorded in your cap table. This is done outside the Oyster platform.

Case 2: You already granted equity to your Oyster team member

1. Go to the Equity compensation page.
2. Click on Add team member equity details.
3. Check the checkbox that reads: This team member's equity grant has already been issued and approved by the board in accordance with our equity plan.
4. Select the Team Member
5. Check if the selected team member is participating in an equity plan offered to all customer employees and non-employee under one group plan or a separate one
6. Select the equity type (Select " Stock Options " to see more options like NSOs and Phantom Stock)
7. Click on continue
8. Enter the Grant Details and Vesting Schedule
   • As a default, the vesting schedule is prefilled with the information you provided when you input your company equity plan details. You can edit this by unchecking the box that reads: Use vesting schedule preset.
   • For [ Time period of award ], " Recurring " means the same grant with the same vesting schedule will be made every year - in other words, annually. 
9. Click on continue
10. This is the last page. Check and validate that the summary corresponds to the equity grant you intend to make. Make sure you carefully read the compliance notice for any additional actions you may need to take.
11. Click on finish and your grant record will appear in the Equity Compensation table.

Related: How to grant equity to Oyster team members.