Offboard an Employee or Stakeholder
When an employee or stakeholder leaves your company, you can use Cake's offboarding feature to manage their departure and handle their equity holdings according to your company's good leaver/bad leaver policies.
To offboard a stakeholder:
From the main menu, click on Incentive Plans and select Off-boarding from the dropdown list.
Click the off-board stakeholder button.
In the pop-up screen, select the stakeholder name from the list and set the exit date.
Once the stakeholder is selected, their offers will show up automatically.
Edit the off-boarding terms as needed:
Lapse vested options at off-board date (typically for bad leavers)
Accelerate unvested options (for good leavers or special circumstances)
Edit the Post-Termination Exercise Period to specify how long they have to exercise their vested options after leaving.
Click the Apply off-boarding button to save your changes.
Once done, the system will automatically update and lapse the offer at the termination date according to your settings.
Important: The offboarding settings you choose should align with your company's Equity Incentive Plan rules and good leaver/bad leaver provisions.
Still Need Help?
If you need further assistance, reach out to our support team by raising a new support request or through the chat in the bottom right corner.If you need further assistance, reach out to our support team by raising a new support request or through the chat in the bottom right corner.
