Create a New Restricted Stock Unit (RSU)
A Restricted Stock Unit (RSU) is a promise to deliver shares when vesting conditions are met. Recipients pay nothing upfront, units automatically convert to shares once they vest.
Before you start
Your RSU plan must be set up first. If you haven't set up the RSU plan, click New RSU plan within Add an equity plan.
Create an RSU grant
Go to Plans → RSUs and click View plan.
Click + Add new or existing grant.
Complete the grant details:
Add RSU holder: select an existing contact, or add a new recipient by entering their name and email (plus optional team and level)
Equity for each RSU holder: enter the number of units or a percentage to allocate
Vest start date: when vesting begins
Vesting schedule: choose Industry Standard (4-year vest, 1-year cliff) or click Custom to build your own. See Create Custom Vesting Schedules
Configure additional settings (all visible by default):
Enable double-triggered vesting: requires two conditions before units vest: the standard time-based vesting schedule, plus a defined corporate event (such as an IPO, acquisition, or funding round). Toggle on and enter a description of the second trigger (e.g. "IPO or M&A event"). Units will not vest until both conditions are satisfied.
Require witness signature: require a witness alongside the recipient's signature
Grant date: optionally override the default grant date
Click Save draft to save for review, or Send grant to issue immediately.
What happens next
The recipient receives a grant agreement to sign electronically through Cake. Once the vesting schedule is complete, and any second trigger condition is met, the RSUs automatically convert to shares. No payment is required from the recipient at any point.
Cake does not have standard built-in offer templates for RSUs. Consult legal counsel to draft documents, which can then be integrated into Cake to allow for digital signing through the platform on all future grants.
Local variations
Australia / New Zealand
The grant is called an offer, and the button is Send offer, not Send grant.
The additional settings in step 4 are hidden by default, click Advanced mode at the bottom of the setup screen to expand them. Fields in Advanced mode include:
Trust nomination (AU/NZ only), allows the recipient to hold their shares through a family trust. See Allow Employees to Nominate a Trust for Their Options