Off-board an Employee or Stakeholder
Cake's off-boarding feature lets you manage a departing employee's full equity position in one flow, rather than processing each grant individually. It's the recommended approach for employee departures.
Before you start
You need Admin access.
Have the employee's departure date ready.
Review your Plan Rules to confirm the lapse and exercise terms that apply.
Run the off-boarding flow)
Go to Plans and click Off-boarding.
Click Off-board stakeholder.
Select the relevant stakeholder to pull up all grants and set the exit date: the date the employee's employment ended.
Review the equity summary, Cake lists all grants and what will happen to each based on your plan settings:
Unvested equity: can be automatically lapsed from the exit date
Vested options: remain exercisable until the post-termination exercise period (PTEP) expires
Adjust the off-boarding as necessary to lapse vested options in addition to unvested (usually bad leaver only) and accelerate unvested options.
To finalize, select Apply off-boarding.
What Cake handles automatically
All unvested options lapse as of the off-boarding date and are automatically returned to the option pool.
Vested options remain available to exercise until the PTEP expires
You can send an exercise reminder to the departing employee directly from this flow
After off-boarding
The employee's record is updated with the departure date. Lapsed options return to the unallocated pool. Vested options remain on their profile until exercised or the PTEP expires. You can still process a final exercise on their behalf at any point, see Exercise Stock Options for Employees.
Once you've processed the off-boarding, this cannot be edited, so ensure all details are accurate before completing the flow.
If you need to edit any of the details after the off-boarding is complete, you will need to delete the off-boarding event and redo it.