Uploading offers one by one is so last year... Thankfully in Cake we have a function to help tackle this tedious problem!
Here are the steps to get your stock options uploaded to Cake in no time!
BULK UPLOAD WITH SAME VESTING CONDITIONS
*Disclaimer for American Offers: This template gives you the option to differentiate ISO or NSO offers. If you are needing to use this feature, refer to these steps*
* As you import your offers, you will be asked to specify the vesting schedule to be applied to each of the offers. Because of this, if you have more than one vesting schedule that is used within your option plan, you will need to do these in batches. Eg. 1 batch for offers that have a 12 month cliff & quarterly vesting for 3 years, and a 2nd batch for offers that have no cliff & quarterly vesting for 4 years, etc.
Navigate to Equity Plans and select Options / Stock Options on the left hand tool bar of company account
Click View Pool in the option plan you are uploading the transactions into (for help setting up your option plan, click here)
If you have not yet uploaded your first transaction, your pool details will currently be blank. If you have uploaded previous transactions, you should be able to view them on this screen. Regardless, scroll down to countries, and select View Details in the country you are uploading into
Click Bulk upload offers buttons.
Select Download Template and then open the file
This will take you to a 'View Only' file, so in the top left click File -> Make a Copy -> Name your file -> and then select 'Make a Copy' a final time
You can proceed to delete the template information that is in the file in the 'ESOP Offers' tab, and fill it out with your offers including -
Employee name & email;
Total number of options;
Exercise price (Strike price);
Option price;
Grant date (N.B. only enter this for offers that have already been accepted outside of the Cake platform - if you enter this date here, it will skip past the signing process in Cake and commence the vesting schedule);
Address details (optional);
Vesting start date (the date you would like the schedule to commence from - eg. if you have a 12 month cliff and you would like the first options to vest on 01 January 2024, you would set the vesting start date as 01 January 2023 - ie. 12 months prior to the first vesting date);
Option type (US specific - NSO or ISO); and
Allow trust (AU specific - are your employees allowed to nominate a trust to accept their offer).
*NOTE: to ensure the offer links to an existing stakeholder in Cake, make sure you use the same contact email as the one you have uploaded in their existing account.
Now you have imported the correct information, you can download the file as a CSV. Head to the top left File -> Download -> Comma Separated Values (csv)
Then head back to your Cake account import CSV. Follow the prompts on how to upload the CSV file, and then ensure all of the information is correct before selecting Next
NOTE: If any transactions come up highlighted in red, assess the problem (i.e. missing information, incorrectly formatted date etc.) -> you can either update the details directly in this window, or go back to your Bulk Upload File -> fix the changes -> re-download the CSV file -> follow the steps to upload again
Select the Vesting Rules that will apply to all of the offers. Then select Add Offers
NOTE: The default conditions are set to a 25% cliff after 12 months (i.e. 25% of the options allocated to each option holder will vest 12 month after the vesting start date), with a time based vesting of 75% for 3 months over 3 years (i.e. the remaining 75% of the options will vest equally every 3 months for a 3 year period). Alter these conditions as necessary for your transactions.
