How to record a lapse for a warrant grant

Recording a cancellation for warrant grants

There are various reasons why you would need to lapse a warrant grant (this can include a partial lapse or the entire grant).

You can lapse a warrant grant by finding the warrant grant that you want to record a cancellation for, then click the corresponding action button (3 dots) -> Register Offline Cancellation.

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You will then need to enter details of the cancellation:

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  • Cancellation reason (mandatory): Select a reason for the cancellation.
  • Date of cancellation (mandatory): When this date is entered, we will see how many warrants have vested and are yet to vest at this point in time.
  • Select the amount to cancel and you have 3 options:
    1. Cancel all of the warrants that have vested as of the exercise date (shown below the cancellation date).
    2. Cancel all outstanding warrants (the total granted minus any warrants that have been deducted due to previous secondary transactions).
    3. Cancel a specific number of warrants (you can manually enter this value).

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  • Money or Value Received - Has the grant holder received anything of direct monetary value or anything that can be converted into money or direct monetary value? If so, enter the amount of money or monetary value received by the grant holder. Then, state if the payment was retention tax operated.
  • Note (Mandatory) - Any notes that you would like administrators and the warrant holder to view. 
  • Funding Round - The funding round of which the exercise took place, if relevant.
  • Priority Key - If multiple transactions happen on the same day, this field may be used to give an explicit priority when sorting, in order to avoid negative balances. The key must be an integer - positive or negative. Several transactions may share the same key. The transaction with the lowest (or highest negative) key will be viewed as coming first. No key corresponds to the value 0.
  • Document - Adding the relevant document is recommended. 

Once complete, click 'Save Draft' or 'Publish and Notify' (if applicable).

You can then see that the cancelled quantity has been deducted from the previous outstanding quantity.Screenshot 2020-10-28 at 16.29.11

Under Transactions, there are now 3 drafts. By clicking on this, we will be able to find the transaction history for this grant.
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By clicking on the transaction, details of the cancellation will be highlighted on the right-hand side.

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If you need further assistance, you can reach out to us by submitting a support ticket here.