Before preparing an import file for options, you’ll need to create an option plan on Capdesk.
You can do this by clicking on the “Options” tab -> go to “Plans” page -> green button “Add Plan”.
Note: If you can't see the "EQUITY AWARDS" tab, you may need to go into "Settings and Add-ons" and tick "Options Addon"
You’ll then be directed to the page where you can create the Option Plan.
You can find out more about how to create an option plan on Capdesk here: https://capdesk.zendesk.com/hc/en-us/articles/360023583912-How-to-Create-an-Option-Plan
How to Download an Import File
Once you’ve created your option plans on Capdesk, you can now prepare an import file to get your options data on Capdesk. To do so, you will need to download the import file template.
To do this, go to “Options” tab -> “Import Grants”.
You’ll then be directed to the Import Data page where you can download the template for importing the data. Click on “Download Sample CSV File”.
Once you’ve downloaded the spreadsheet, it is populated with examples. You can use these as guidance of how to record option grants.
N.B. please ensure you delete all the example data before importing the data.
Note: The order of the columns in the template may differ to the screenshots shown below. This doesn’t matter for importing but if you want you can drag columns around to match the screenshots.
How to Create an Import File
This section will explain every column that is needed to be able to successfully import onto Capdesk.
“id” (mandatory) - For every option 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 an option grant (i.e. exercise / lapse), you will need to fill the “grant_id” column with the option grant id you have inputted in the “id” column; shown in the image above.
“security_plan” (mandatory) - Fill in the same option plan name from the option plan you created on Capdesk earlier (e.g. EMI / CSOP / Unapproved etc.).
“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.
“Registered” (non-mandatory) - If there is an exercise, you can also provide the date the shares are entered in the share register.
Tip: Every cell in the “date” column should always be filled.
“national_insurance_number” (non-mandatory) - Fill if applicable. We ask this because you can use Capdesk to generate EMI Notification and Annual Return forms.
“first_name” (mandatory) - First name of the optionholder.
“middle_name” (non-mandatory) - Middle name of the optionholder if applicable.
“last_name” (mandatory) - Last name of optionholder.
“email” (mandatory) - Email address of optionholder.
“country” (mandatory) - Country of residence of optionholder. Please ensure this is in the format of ISO ALPHA-2 (you can find the full list of countries here: https://www.nationsonline.org/oneworld/country_code_list.htm).
Tip: You only need to provide personal information in the row where “id” is filled (in contrast to rows with a “grant_id”).
“quantity” (mandatory) - The amount of option that have been granted / exercised / lapsed.
“exercise_price” (mandatory) - The exercise price of the option grant.
“expires” (mandatory) - The date of expiration of the option grant.
Once you have inputted your key information, personal information and option details, you then need to establish what type of vesting is required in order to establish what corresponding cells to fill. If the vesting schedule is:
- Immediate: this means that the option grant will vest immediately. Cells to fill:
- “vesting_type” - always input ‘immediate’.
- “vesting_start” - the date the option was granted and subsequently vested.
- Automatic: the standard vesting schedule i.e. options that vest over 48 months, with a 12 month cliff, vests 25% at end of cliff then vests monthly. Cells to fill:
- “vesting_type” - always input ‘automatic’.
- “vesting_on” - always input ‘same_date’.
- “vesting_start” - the date the option was granted
- “vesting_months” - The total vesting period in months including any cliff e.g. if it vests over 4 years, you will be 48.
- “vesting_cliff” - This is the period (in months) where no options are vested. This can be 0 if the option starts vesting immediately.
- “vesting_percentage” - At the end of the cliff period, a % amount will have vested. E.g. 6 options vested out of 24 in total (6/24 = 25%).
- “vesting_interval” - The frequency of options vesting either or after the cliff period. If monthly, input 1. If quarterly, it'll be 3. If annually, it’ll be 12 etc.
- Custom: if the option grant has special conditions i.e. it vests on certain dates, has performance conditions or is milestone based. Cells to fill:
- “vesting_type” - always input ‘custom’.
- The quantity of options vested on a specific date
- This is separate from the option grant row and you will need to insert a new row. You will also need to input “grant_id” with the “id” of the option grant.
- You will also need to input the “date” (back at cell E) on the same row as the transaction.
- “vested_quantity” - The cumulative total of options vested up to that date, this can also be left blank.
- “milestone” - If the option is based on Milestones, fill this column detailing what the milestone is (usually detailed in the contract).
HMRC details & option actions:
“is_notified” (non-mandatory) - For EMI option grant only. If the option grant is notified to HMRC, please put "yes".
“notified” (non-mandatory) - The date notified to HMRC. This can also be left blank even if answered "yes" in the is_notified column.
- This is separate from the option grant row and will need to insert a new row. You will need to input grant_id with the id of the option grant in the new row.
- Fill this column with the transaction reason i.e. if there has been an exercise or lapse.
- If exercise, please input "exercise".
- If lapse, we have a list of cancellation reasons to input into this cell: registration_fault / buyback / expiration / share_capital_variation / death / disability / leave_involuntarily / leave_voluntarily / retirement / release / other.
- If you have listed one of the cancellation reasons, you will need to include a note i.e. "lapsed".
- You can use this field to include any additional notes for the optionholder to see.
The remaining columns are all optional but if you want to use them, please feel free to reach out to support for further help at email@example.com.
How to record an exercise or lapse:
To record an exercise you will need to fill in specific cells:
“grant_id” - input the “id” of the optionholder.
“date” - the date of the exercise.
“registered” - the date the shares are entered into the share register. Can be left blank
“quantity” - the amount you want to exercise.
“reason” - always enter exercise.
To record a lapse you will need to fill in specific cells:
“grant_id” - input the “id” of the optionholder.
“date” - the date of the lapse.
“quantity” - the amount you want to lapse.
“reason” - reason for the lapse. We have a list of cancellation reasons to input into this cell:
“note” - always enter lapsed.
How to Upload the Import File
Once you have completed the Import File, you will then need to import it to Capdesk.
To import, you need to download your sheet as a csv file.
You can do this by clicking on the “File” tab -> “Download as” -> “comma-separated values (csv, current sheet)”.
You’ll then need to go back onto Capdesk and to the page where you downloaded the template (“Options” tab -> “Import Grants”).
However, once directed, this time click on “Select File to Import” and select the csv file you have just downloaded.
You’ll then have to wait a moment while the file uploads.
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, please feel free to contact support at firstname.lastname@example.org.
If import successful:
Once you’ve managed to upload the file, you can review the option grants. You can also see the option grants in the Cap Table page, giving you the fully diluted position.
Additionally, you can export reports for the option grants. In the Options page -> Exports, you can export the Vesting Overview and Grant Overview report (if your data is in drafts, please make sure you tick the checkbox “Include Drafts?”).