Not a fan of standard vesting schedules? or simply want to shake things up? 🕺🏻 Not a problem! To create a custom vesting schedule in Cake follow the steps below -
Navigate to 'Equity Plans' and then 'Options'
Go to the relevant ESOP pool and click + Add an Offer
Type in the optionholders name and the number of options
Next step is to create your custom vesting schedule. The vesting will default to our standard template, to customise, select 'Custom' in the top right corner
Type in the vesting start date (this is the date the cliff or the first periodic vesting event will start from)
Add the types of vesting you'd like to use by clicking on the buttons shown in the image below. You can only add one cliff but as many periodic and milestone events as you wish! If you use a cliff, this will always be used as the first vesting event and any periodic vesting will follow.
When you've allocated the total number of options add your exercise price in the next steps and select 'Save draft' or send the offer out for signing.
Here is an example of a custom vesting schedule created in Cake -
