To add shares/stock with vesting conditions applied you will first need to set up a Share Plan or an RSA Plan. If you have already done this you can jump ahead to part 2 of these instructions 😎 If not, start with part 1 below -
Part 1
In the main menu, go to Equity Plans
Click on the '+ Equity Plan' button and select either 'New RSU Plan' or 'New Share Plan', depending on your account.
Populate the required fields such as the Name of the plan and specify the share type
Allocate the percentage of ownership offered or the number of shares/stocks to be included in the plan. This total number of shares will represent the overall quantity issued through this plan. Note that within the plan, you will later allocate individual offers to stakeholders.
Once you've set up the plan, it's time to add each individual share issuance for your team! To do this, follow the steps in part 2 below -
Part 2
Click on 'View Plan' of the relevant plan.
In the details view, click on the '+ Add an Offer' button
Choose the relevant stakeholder from the drop-down list. If the stakeholder is not listed, you can select 'Add new stakeholder' to create a new contact in Cake.
Now it's time to create the vesting conditions! To do this, allocate the total number of shares for each vesting occasion. You can use one cliff vesting, one periodic vesting and as many milestones as you wish. The Start date of the vesting will be added at a later stage when you issue the shares.
In the screen shot below you can see an example of how the vesting conditions for Elon Musk might look like on Cake 🚀
When you've created the vesting conditions click on 'Add offer' to save the offer. Your shareholder will not be notified by doing this. It will only add the offer in a draft stage to your plan as shown in the image below -
Click 'Issue' to add the shareholder to your Cap Table and start the vesting. You will be prompted to add the issue date in this step. The issue date you enter here is the date the vesting will start from. This date can be back-dated. 👌🏻
💡Cake will automatically send a notification to your shareholder each time they meet a vesting condition to congratulate them on their progress. If you wish to turn this function off before issuing the shares click on 'Bulk Actions' and select 'Turn emails off' in the drop down as shown in the image below.
You can always turn it back on at later stage if you change your mind!