This post will explain and give step-by-step instructions on how to correct information that has been uploaded incorrectly into Shoobx. It also instructs you on how to take various different actions directly from your Cap Table view.
It is crucial to make sure that all of the information in your Cap Table is up-to-date and accurate. (To learn more about the information displayed in your Cap Table, you can check out this article: Anatomy of the Shoobx Cap Table.) Please click on a link below if you prefer to be directed to a certain section of this article:
- Fixing a Data Entry Error
- Deleting an Exercise or Grant
- Staring a New Equity Workflow (Transfer Shares, Exchange, Stock Exercise, Vesting Amendment, Repurchase)
Fixing a Data Entry Error
If you visit your company's Cap Table (by selecting the "Capitalization Table" button from your Shoobx dashboard under the "Equity & Financing" heading), you will be able to review the allocation of shares in your company. If the grant information was originally uploaded and entered incorrectly, you can take the steps below in Shoobx to fix the issue. If the grant was generated and executed in Shoobx or if a stock certificate has been issued via Shoobx, the steps described here will not be available. Please reach out to email@example.com for assistance.
To begin, open your Cap Table and select the entry that is incorrect. Click on the stockholder's name, to view the drop-down segment with links to the documentation for their shares. On the far right hand side of the screen, you will see a paper and pen icon in orange (see screenshot below).
Click the icon to get a pop-up window with a list that includes the option to "Fix Data Entry Error (scrivener's error or missing data)." Select this option.
*If the "Fix Data Entry Error" option is not available, it is likely because some aspect of the grant or a subsequent action was executed in Shoobx, not entirely uploaded. If all legal actions associated with this Cap Table entry did not occur outside of Shoobx, including the creation of the stock certificates relevant to this action, the option will not be available and premium client service support may be required to address the issue.
After you select, click "Update," to view the actions related to this holding and the documents that are associated with this ownership. Identify the entry that you would like to edit and select the corresponding paper and pen icon to the right.
Once you have selected the appropriate entry, Shoobx will allow you to edit the information for the grant that you had previously submitted. (see screenshot below) Selecting "Save," will instantly update this information in your Cap Table.
Deleting an Exercise or Grant
If you follow the same steps above; clicking into your Cap Table and identifying the pen and paper icon to the right of an incorrectly uploaded grant or grant exercise, you have the option to remove this information in its entirety from your Shoobx account.
For example, if you would like to remove Violette's exercise documentation, you can do so by clicking into this screen (see below) and selecting the trash can icon to the right.
Shoobx will prompt you and let you know that some documents, like the exercise documentation, will be deleted if you wish to remove this exercise.
Please note that, once again, all actions that change the grant details (also referred to as metadata) can only be altered or deleted if everything in the process (including the stock certificates) have been uploaded into Shoobx.
Starting a New Equity Workflow
To start a workflow for a certain line item in your Cap Table directly from this screen, without clicking back into the dashboard, you can most certainly do so. In order to kick off a transfer of shares or secondary sale, an exchange of shares, an amendment to grant vesting, upload a stock exercise, terminate and repurchase shares, or simply repurchase shares as a standalone action, you can do so via the Cap Table editor. Simply find the line item entry you are interested in starting a workflow for from your Cap Table and click on the paper and pen icon to the far right. The next screen will give you the options shown below.
Once you have selected the flow you are interested in running, the "Start Workflow" button will light up in green. Click it to begin the workflow.