Off-board an Employee or Stakeholder
When an employee or stakeholder leaves your company, Cake's off-boarding feature gives you a streamlined way to manage their departure and handle all their equity holdings in one place.
Off-boarding is designed specifically for employee departures and gives you more control:
Manage everything in one flow – Handle all of a person's grants at once, rather than processing cancellations grant-by-grant
Set a clear off-boarding date – Record when the person left and apply lapse rules from that date
Auto-lapse based on your policies – Configure options to automatically lapse unvested equity according to your good leaver/bad leaver rules
Optional team notifications – Choose to notify relevant stakeholders about the cancellation
Better audit trail – Keep precise records of lapse expectations, acceleration decisions, and off-boarding events for compliance and reporting
If you're managing a one-off grant cancellation or adjustment, manual lapsing may be simpler. But for employee or stakeholder departures, off-boarding ensures nothing is missed and your equity records stay accurate.
To off-board 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 special circumstances)
Edit the Post-Termination Exercise Period to specify how long the stakeholder has 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(s) at the termination date according to your settings.
Important: The off-boarding 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 and we'll help you out.
