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
Edit 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 are lapsed from the off-boarding date in one action
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.