For employees with vested share options (stock options) wishing to exercise their options, Cake provides a streamlined process for submitting an exercise request. Here's how it works:
Access Your Employee Portfolio: To kickstart the process, employees need to log into their Cake account and navigate to the Portfolio tab.
View Your Holdings: Within the Employee Portfolio, participants will find the 'View' button associated with their option offer.
Request Exercise: Clicking on the 'Request exercise' button is the next step. This action triggers a notification that is sent to all Admin users associated with the respective account.
Admin User's Decision: The responsibility then shifts to the Admin user(s) of the Cake account. They have the authority to either accept or decline the exercise request. This can be done through the 'Actions' tab within their Cake account.
Processing the Request: Upon the Admin user's acceptance of the request, the exercise process is set in motion. The appropriate number of shares is issued to the employee.
It's important to note that prior to accepting the exercise request in Cake, it's recommended for all parties involved to review the Plan documents (usually available via the Documents tab in Cake! Reach out to your employee if you need a copy). These documents contain important information about the process related to the exercise of options. Ensuring that all steps are completed in accordance with the Plan documents is essential to a smooth exercise process.
By following this straightforward process, employees can efficiently initiate the exercise of their vested share options, while administrators can effectively manage and process these requests, ensuring a seamless experience for all parties involved. 🚀💼
If you have any queries or need further guidance on share option exercises via Cake, feel free to reach out to our support team. We're here to assist you throughout the process! 💬🍰