The most common reason we see the need for editing the details of an option pool is to update the number of options in the pool - for example, a top up has been approved.
If the option pool has no offers (or only draft offers), all of the pool details are editable including the name, number of options, option price, strike price and sharetype.
Once offers have been sent for signing or granted through Cake, only the name of the pool and number of options are editable fields.
You can also update two settings here:
Allow option holders to request exercise in the Team Portal
This toggle determines whether or not a recipient can request to exercise their options via their Portal.
Require witness signature for all offers
If your option agreement requires a witness to execute alongside the recipient, turn this toggle on to ensure the employee is prompted to identify a witness upon accepting their option grant!
The option price and strike price can also be updated at an individual offer letter so the overall option price and strike price for the pool are only set initially as the default price for the pool but can be overridden later!
Editing the Pool Name & Number of Options
From the main menu, select Incentive plans;
From the dropdown, select Stock options or simply, Options;
Click View pool on the pool you need to make changes to; and
4. Click Edit in the top right corner and update to the relevant details.
Note: if you are blocked when it comes to updating the size of your option pool, it is likely due to some options that were granted and then lapsed within the pool. Send us a message on our online chat if this is the case and we'll help you out! 💬