If you are at the "Checkpoint" screen in a document, you may find that some fields are not yet filled in.
Your first instinct might be to edit these fields (as an example, edit the "<Closing Date>" field to say, "April 9, 2020"). However, there's no need. If you're seeing fields (such as the date) in brackets, it's because the field will automatically be set based on certain other fields in the platform that are not yet determined. The date might be set based on when the document is signed or when the board consent is signed. Common fields that appear as placeholders when the document is sent out for signature include fields like <Effective Date>, <Grant Date>, and <Expiration Date> (on a stock grant).
Below is an example of what this looks like in a real document being sent out for signature:
Frequently Asked Questions
How is the "Effective Date" determined?
It is set based on the last signature of the document or of the document's board consent.
How is the "Grant date" determined for a platform stock grant?
If you choose to generate grants in the platform, the date of the grant will automatically be set to the date of the generated board consent executed via the platform.
However, in some cases, this can be overridden. As an example, if you generate a board consent, it takes on the date when the last signature was received, but you can change it to another future date (e.g. you can sign a consent in March and set the Grant date to April). It can NOT be changed to an earlier date (i.e signing a consent in March and dating the consent to a date in February is NOT allowed). Whatever date is on the board consent will then apply to the grants as the grant date.
If you upload the board consent that approves the grants, you can enter the date. This date will then be applied to the generated grants. As an example, if you upload a board consent and indicate it is dated December 20, 2018, then you use the platform to issue the grants and have them signed on April 1, 2019, the grant date will be December 20, 2018.
How is the "Expiration Date" field on a grant determined?
Whatever the grant date is, this will be set 10 years after that grant date. In certain cases, it can be overridden, however.
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Screenshots are for Illustrative Purposes Only.
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