This article covers how to navigate through an import file for share grants and import them onto Capdesk.
If you have several share grants to record, an alternative to manually recording them on Capdesk is to bulk import them through a CSV file.
Before we can record share grants on Capdesk, you must do the following;
- Add the Share Grants module to your menu by selecting it from your “Settings and Add-ons” Page: Add Equity Modules to Capdesk
- Create the share class of the Share Grants on Capdesk:
- Create a Share Grant plan on Capdesk: Share Grant Plan
- Optionally you may want to create an Incentive Pool
Once the Share Plan has been created we can now start to work on the template which you can download here go to Share Grants > Import Grants > Download Sample CSV File.
Once you have the import file downloaded, these are the information that you will need to input:
"id" (mandatory) - For every share grant, there needs to be a unique number filled in the “id” column (it can be as simple as 1, 2, 3, etc.).
“Grant_id” (non-mandatory) - For every transaction relating to a share grant (i.e. cancellation), you will need to fill the “grant_id” column with the share grant id you have inputted in the “id” column; shown in the image above.
“Security_plan” (mandatory) - Fill in the same share grant plan name from the share plan you created on Capdesk earlier (e.g. Growth Share Plan, Employee Growth Plan).
“Date” (mandatory) - The date of the transaction. The date will all need to be in the same format i.e. if you use a (/) or (.) as the separator, all dates will need to be inputted in that format.
“Quantity” (mandatory) - The number of share grants that have been granted (or cancelled if recording secondary transaction).
"Employment_related" (non-mandatory) - Either populate 'yes' or leave blank. This is for when you run an Other ERS Annual Return, this can be captured and detailed in the report.
If the Growth Shares are being attributed to an individual than you will need to populate;
“First_name” (mandatory) - First name of the grantholder.
“Middle_name” (non-mandatory) - Middle name of the grant holder if applicable.
“Last_name” (mandatory) - Last name of the grantholder.
“Email” (mandatory) - Email address of the grantholder.
“Country” (mandatory) - Country of residence of the grantholder. Please ensure this is in the format of ISO ALPHA-2 (you can find the full list of countries here)
"Hurdle Price" (non-mandatory) - The price per share which has to be reached for the share grant to gain value.
"Price" (non-mandatory) - Cost to acquire those shares. In Capdesk this is noted in the "Consideration" section.
For a company grant holder, you will need to fill;
“Email” (mandatory) - Email address of the grant holder.
"Registration_Number" (mandatory) - This is the company registration number, if it is a UK based company, you can find the registration number on Companies House. We require this as we use it as a unique ID.
"Company_Name" (mandatory) - Name of your company as registered
Tip: You only need to provide personal information in the row where “id” is filled. Not for Grant_id.
After inputting the above information, you then need to record vesting schedule details. If the vesting schedule is:
Immediate: this means that the share grant will vest immediately. Cells to fill;
- “vesting_type” - always input ‘immediate’.
- “vesting_start” - the date of when the share grant immediately vests.
Automatic: the standard vesting schedule i.e. share grants that vest over 48 months, with a 12-month cliff, vests 25% at end of the cliff then vests monthly. However, we have 4 different types of automatic schedules to accommodate for rounding (if there is fractional vesting). Cells to fill;
- Automatic (Distribute Evenly, Round Up): Rounds up the first tranche then distributes evenly. You will need to input 'automatic_equal_round_up'.
- Automatic (Distribute Evenly, Round Down): Rounds down the first tranche then distributes evenly. You will need to input 'automatic_equal_round_down'.
- Automatic (Round Up): Rounds up any fractional vesting at each tranche and removes any difference in the last tranche. You will need to input 'automatic_round_up'.
- Automatic (Round Down): Rounds down any fractional vesting at each tranche and adds any difference it the last tranche. You will need to input 'automatic_round_down'.
- “vesting_on” - this corresponds to the day of when the share grant vests. It can vest on the same day as the vesting start date, the first of the month or the last of the month. Input 'same_date', 'first_of_month', or 'last_of_month' respectively.
- “vesting_start” - the date the share grant starts vesting
- “vesting_months” - the total vesting period in months including any cliff e.g. if it vests over 4 years, you input 48.
- “vesting_cliff” - this is the period (in months) where no share grants are vested. This can be 0 if the share grant starts vesting immediately / no cliff.
- “vesting_percentage” - (if applicable) at the end of the cliff period, a % amount will have vested. E.g. 6 grants vested out of 24 in total (6/24 = 25%) so input 25.
- “vesting_interval” - how often the share grants will vest either or after the cliff period. If monthly, input 1. If quarterly, it'll be 3. If annually, it’ll be 12 etc.
- “vesting_type” - input ‘custom’.
- The number of share grants vested on a specific date
- This is separate from the share grant row and you will need to insert a new row. You will also need to input “grant_id” with the “id” of the share grant.
- You will also need to input the “date” (back at column E) on the same row as the transaction.
- “vested_quantity” - if the date of vesting has taken place then you can input the amount that is vested on that date.
- "date" - the date of when the share grants will vest.
Other vesting conditions: if the share grant has vesting conditions based on milestones, performances or market conditions i.e. vests upon an exit event.
Similar to the custom schedule, you will need to enter a scheduled quantity and then fill in the condition field (input vests upon exit, etc). You do not need to enter a date.
The vesting type will be 'vesting_condition'.
More on vesting can be found here.
How to record secondary transactions (i.e cancellation):
If a share grant is cancelled, you will need to fill in (and as shown in the screenshot with the yellow background):
“grant_id” - input the “id” of the grant holder.
“date” - the date of the cancellation.
“quantity” - the amount you wish to cancel.
“reason” - a reason for the cancellation which you can find below:
“note” - enter further information about the cancellation.
If a share grant is cancelled and converted to a different share class (i.e to deferred), you will need to fill in these fields (as shown in the screenshot below):
“grant_id” - input the “id” of the grantholder.
“date” - the date of the cancellation.
“quantity” - the amount you wish to cancel.
"share class" - allocating the cancelled shares to the deferred share class (make sure you have created a deferred share class in Capdesk before importing this file).
“reason” - a reason for the cancellation. Please refer to the above on the difference "reasons".
How to upload the import file:
Once you have prepared the import file, you will then need to import it to Capdesk.
To import, you need to download your spreadsheet as a CSV file.
You can do this by clicking on the “File” tab -> “Download as” -> “comma-separated values (CSV, current sheet)”.
You will then need to go back onto Capdesk and to the page where you downloaded the template (“Share Grants” tab -> “Import Grants”).
However, once directed, this time click on “Select File to Import” and select the CSV file you have just downloaded.
You will then have to wait a moment while the file uploads.
If import successful:
Once you have managed to upload the file, you can review the share grants. You can also see the share grants in the Cap Table page, giving you the fully diluted position.
If import upload failed:
If your CSV file fails to upload you will need to download the “Download Processed CSV” to see what errors have occurred.
Once you have established the errors and corrected your import file, download the updated CSV file and try and upload it again by clicking “Reimport CSV File”.
If you are unsure of the errors and unable to resolve, please feel free to contact support at email@example.com.
Additionally, you can export reports for the share grants. Go to the Share Grants page -> Exports, you can export the Grant Overview report (if your data is in drafts, please make sure you tick the checkbox “Include Drafts?”).
If you need further assistance, you can reach out by submitting a support article here.