This article will cover how to upload an option exercise in your account. For more information about how to exercise your options in the platform and generate this documentation, see our article here. For more detailed information about the steps in the "Exercise (Upload Only)" workflow, please select a step below:
The first step of the "Exercise (Upload Only)" workflow will ask you to specify the option holder whose options were exercised. The next step, intuitively, will ask you to specify the grant affected by the exercise.
Then, the workflow will bring you to a page that will allow you to upload the exercise document, specify the date of purchase, confirm the number of shares purchased, select a payment type (check, cash, wire transfer), specify the fair market value price per share, and list the exercise price for these shares.
Proof of Payment
The next step of the flow will require you to provide proof of payment for these shares and confirm that they have been paid for in whole. Proof of payment can take the form of a photo or scan of a check, etc. You can also choose to waive this document.
At this point, you will be given the option to create stock certificates for the stockholder or you can upload them (or defer them for a later date). You'll want to have the certificate number and legends handy for this step. You can read more about generating certificates on the platform, here.
Once you have moved past the aforementioned screen, you'll arrive at the Checkpoint step where you can review all uploaded (and perhaps generated certificates). You can send these documents to your legal team for review, at this point. Moving past this step will execute this exercise, meaning that stock certificates will be sent out for signature (if applicable) and the option holder will be able to view their stock in the platform at any point. They will also be notified of any new stock certificates in their name, if they were generated.
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