Introduction
It is important to verify that all of the information in your Cap Table is up-to-date and accurate. This article will explain and give step-by-step instructions on how to correct information that has been uploaded incorrectly into your Cap Table. It also instructs you on how to take various different actions directly from your Cap Table view.
To learn more about the information displayed in your Cap Table, you can check out this article: Anatomy of the Cap Table.)
Please click on a link below if you prefer to be directed to a certain section of this article:
- Fixing a Data Entry Error
- Deleting an Exercise or Grant
- Staring a New Equity Workflow (Transfer Shares, Exchange, Stock Exercise, Vesting Amendment, Repurchase)
Fixing a Data Entry Error
If you visit your company's Cap Table, you will be able to review the allocation of shares in your company. If the grant information was originally uploaded and entered incorrectly, you can take the steps below to fix the issue. Additionally, if the grant was generated and executed on our platform or if a stock certificate has been issued via the platform, the steps described here will not be available. Please reach out to our support team for assistance.
- Click on the stockholder's name to expand the list of their securities.
- Click on the green Edit icon for the security to be edited.
- Select Fix Data Entry Error (scrivener's error or missing data) and click Update.
*If the Fix Data Entry Error option is not available, it is likely because some aspect of the grant or a subsequent action was executed on the platform. If all legal actions associated with this Cap Table entry did not occur outside of the platform, including the creation of the stock certificates relevant to this action, the option will not be available, and premium client service support may be required to address the issue. - Depending on the security type, there may be multiple line items. For example, an option grant may show the original issuance and any exercises. Click the Edit icon for the entry to be fixed.
- Make the necessary changes and click Save. Note that the type of security you are editing will have different fields that can be edited and may look different from this screenshot.
- Review the changes made and click Save, or click the Edit icon to make additional edits.
Deleting an Exercise or Grant
- From the Cap Table, click the Edit icon and select Fix Data Entry Error.
- Click the Trask Can icon for the line item to be deleted. The platform will prompt you and let you know that some documents, like the exercise documentation, will be deleted if you wish to remove this exercise.
- Click Save to process the changes.
Please note that, once again, all actions that change the grant details (also referred to as metadata) can only be altered or deleted if everything in the process (including the stock certificates) has been uploaded to our platform.
Starting a New Equity Workflow
New workflows can be started from the Edit screen without clicking back into the workspace. The workflows available will depend on the type of security and can include:
- Transfer shares or record a secondary sale.
- Exchange shares.
- Amend a grant or update vesting.
- Upload a stock exercise.
- Cancel grant.
- Terminate an employee (and repurchase shares).
- Repurchase shares as a standalone action.
Once you have selected a workflow, click the Start Workflow button to begin the workflow.
Screenshots are for illustrative purposes only.
Fidelity provides cap table management and other administrative services to private companies and their equity compensation plans.
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