Recording Historical Option Cancellations
If you have option grants that were accepted and subsequently cancelled outside of Cake, you can record both the original acceptance and the cancellation in Cake to ensure your cap table history is accurate.
Before you start
You must import the original accepted grant into Cake before you can record its cancellation. Ie. Upload the original number of options granted to the recipient. Follow the steps in Import Existing Option Grants to add the original grant first, then return here.
Record the cancellation
Once the grant is imported and showing in Cake:
Go to Plans → Options and click View pool.
Find the imported grant and click Actions.
Select Stop vesting (lapse).
Choose a lapse type:
Stop on date: stops vesting at a specific historical date; options vested up to that date are kept, everything after lapses
Cancel offer: cancels all remaining vested & unvested options immediately
Milestone: cancels specific unachieved milestone vesting events (select which milestones and how many options to cancel)
Enter the stop vesting date or cancel date that the grant was lapsed.
For time-based or full cancellation, you can optionally check Accelerate vesting to vest additional options on the cancellation date before lapsing the rest.
Click Confirm.
What happens next
The grant's history now reflects both the original issuance and the subsequent cancellation. The lapsed options appear in your historical records and the unallocated pool is updated accordingly.