Send Option Grants for Board Approval
US only: Board approval for option grants is required in many US jurisdictions.
Cake generates a board consent document for your option grants and lets board members sign directly from their inbox, no Cake account required.
Before you start
Board members must be added to Cake before you can send for approval. Add them via Engage → Groups & Board.
The option grants you want approved must already exist in Cake.
Create a board approval
Go to Plans → Board approvals.
Click + Add new board approval.
Select the signers from the list of board members who needs to sign, or + Add new board members.
Select the option grants to include in this approval.
Review the board consent document Cake has pre-filled from your grant data by clicking Preview template.
Click Send for approval.
Board members receive an email with a link to review and sign. They don't need a Cake login.
Track approval status
Go to Plans → Board approvals.
Your pending approvals appear here with each board member's signature status.
Once all required signatures are collected, the approval is marked complete and the signed document is saved automatically to your Documents section.
What Happens Next
The option grants covered by this board approval are fully executed. You can proceed with sending grant letters to employees.
If you selected the option to automatically send offer to option holder after board approval, the grant will be now be sent to the option holder for review and acceptance.