This short video will guide you through how to authorise an option pool with your board and shareholders. It's the same process for both EMI or Unapproved options. And also for extending a pool.
Before you can issue options you have to authorise a share pool with your board of directors and shareholders. Doing this is incredibly simple on Vestd. To authorise your share pool, you’ll:
- Head to your EMI dashboard from the top navigation in the app
- Within the dashboard, select ‘option pools’
- And then on the authorisations page select ‘create a new option pool’
- Here you’ll be able to:
- Name the pool for your easy reference
- Specify the size of the pool you’d like to create
- The class of share this pool with relate to and mention any share restrictions that exist on that class that might impact option holders. Either from your articles or shareholder agreements.
- Next you’ll see a review of the option pool authorisation thats about to be sent to your shareholders along with the associated documents. You can edit things easily from this page if anything doesn't look right or get in touch with us if you are unsure.
- Once you click ‘submit’ all the necessary legal documents with be sent for digital signing by your directors and shareholders.
- You’ll be able to see a live status update on signing in your documents folder next to these documents.
- Now you can see on your dashboard the pool has been created and once all the documents have been signed it will be available to use.
You’ll follow this same simple process if you’d like to extend a pool in the future too.