When issuing a new employee stock option offer, there are three key statuses you’ll encounter before automated vesting begins. Here’s what each status means:
'Waiting on you to complete' -At this stage, the offer is still in draft form and requires action from an admin user to either Grant or Send the offer.
If the offer has already been accepted outside of the Cake platform, click Issue Grant to bypass the signing process. You will be prompted to enter the grant date and upload the executed offer letter.
If you want the offer to be signed digitally through Cake, select Send Grant to send it to the employee for review and signature.
'Your employee/investor needs to sign' - this means the offer is now with the employee to take the next steps (confirm their details & sign the offer letter). You can send a reminder for them to do so at any time through the Actions tab at the top (look for the 🔔).
'Vesting ongoing' - the options have been granted and the automated vesting will begin. Grant Date refers to the date the options are granted to the employee or contractor.
