EquityCompensationIssuance

Object - Equity Compensation Issuance Transaction#

https://schema.opencaptablecoalition.com/v/1.2.0/objects/transactions/issuance/EquityCompensationIssuance.schema.json

Description: Object describing securities issuance transaction by the issuer and held by a stakeholder as a form of compensation (as noted elsewhere, RSAs are not included here intentionally and should be modelled using Stock Issuances).

Data Type: `Includes Backwards Compatibility Alias(es)
- OCF Object - TX_PLAN_SECURITY_ISSUANCE
- OCF Object - TX_EQUITY_COMPENSATION_ISSUANCE

Composed From:

Properties:

Property	Type	Description	Required
id	`STRING`	Identifier for the object	`REQUIRED`
comments	[`STRING`]	Unstructured text comments related to and stored for the object	-
object_type	Constants (Backwards Compatibility): `TX_PLAN_SECURITY_ISSUANCE, TX_EQUITY_COMPENSATION_ISSUANCE` Defined in schema/enums/ObjectType	Object type field	`REQUIRED`
date	schema/types/Date	Date on which the transaction occurred	`REQUIRED`
security_id	`STRING`	Identifier for the security (stock, plan security, warrant, or convertible) by which it can be referenced by other transaction objects. Note that while this identifier is created with an issuance object, it should be different than the issuance object's `id` field which identifies the issuance transaction object itself. All future transactions on the security (e.g. acceptance, transfer, cancel, etc.) must reference this `security_id` to qualify which security the transaction applies to.	`REQUIRED`
custom_id	`STRING`	A custom ID for this security (e.g. CN-1.)	`REQUIRED`
stakeholder_id	`STRING`	Identifier for the stakeholder that holds legal title to this security	`REQUIRED`
board_approval_date	schema/types/Date	Date of board approval for the security	-
stockholder_approval_date	schema/types/Date	Date on which the stockholders approved the security	-
consideration_text	`STRING`	Unstructured text description of consideration provided in exchange for security issuance	-
security_law_exemptions	[ schema/types/SecurityExemption ]	List of security law exemptions (and applicable jurisdictions) for this security	`REQUIRED`
stock_plan_id	`STRING`	If the equity compensation was issued from a plan (don't forget, plan-less options are a thing), what is the plan id.	-
stock_class_id	`STRING`	The stock class options will exercise into. Especially important for plan-less options and any issuances from a plan that supports multiple share classes.	-
compensation_type	`Enum - Compensation Type` Description: Enumeration of equity compensation types (there are some things around the margins like RSAs that don't currently fit under the EquityCompensation umbrella but might arguably fall under this. If you want to create an RSA, create a stock issuance with vesting - you can link it to a plan as well, if you want). The enums stand for: 1. OPTION_ISO (qualified) 2. OPTION_NSO (non-qualified) 3. OPTION (not NSO or ISO) 4. RSU (restricted share units) 5. CSAR(cash-settled stock appreciation rights) 6. SSAR(stock-settled stock appreciation rights) ONE OF: • OPTION_NSO • OPTION_ISO • OPTION • RSU • CSAR • SSAR	If the plan security is compensation, what kind?	`REQUIRED`
option_grant_type	`Enum - Option Type` Description: Enumeration of option types ONE OF: • NSO • ISO • INTL	If the plan security is an option, what kind?	-
quantity	schema/types/Numeric	How many shares are subject to this plan security?	`REQUIRED`
exercise_price	schema/types/Monetary	If this is an option, what is the exercise price of the option?	-
base_price	schema/types/Monetary	If this is a stock appreciation right, what is the base price used to calculate the appreciation of the SAR?	-
early_exercisable	`BOOLEAN`	Is this Equity Compensation exercisable prior to completion of vesting? If so, it's assumed the vesting schedule will remain in effect but, instead of vesting a right to exercise, it becomes the schedule determining when a right to repurchase the resulting stock lapses.	-
vesting_terms_id	`STRING`	Identifier of the VestingTerms to which this security is subject. If neither `vesting_terms_id` or `vestings` are present then the security is fully vested on issuance.	-
vestings	[ schema/types/Vesting ]	List of exact vesting dates and amounts for this security. When `vestings` array is present then `vesting_terms_id` may be ignored.	-
expiration_date	ONE OF the Following Types/Objs: • `NULL` () • schema/types/Date	Expiration date of the plan security	`REQUIRED`
termination_exercise_windows	[ schema/types/TerminationWindow ]	Exercise periods applicable to plan security after a termination for a given, enumerated reason	`REQUIRED`

Source Code: schema/objects/transactions/issuance/EquityCompensationIssuance

Examples:

[
  {
    "object_type": "TX_EQUITY_COMPENSATION_ISSUANCE",
    "id": "test-plan-security-issuance-minimal",
    "security_id": "test-plan-security-id",
    "date": "2019-12-12",
    "security_law_exemptions": [
      {
        "description": "Exemption",
        "jurisdiction": "CA"
      }
    ],
    "stakeholder_id": "test-stakeholder-id",
    "custom_id": "CA-1",
    "stock_plan_id": "test-stock-plan-id",
    "compensation_type": "RSU",
    "quantity": "50",
    "exercise_price": {
      "amount": "50.00",
      "currency": "USD"
    },
    "vesting_terms_id": "4yr-1yr-cliff-schedule",
    "expiration_date": "2031-01-20",
    "termination_exercise_windows": [
      {
        "reason": "INVOLUNTARY_WITH_CAUSE",
        "period": 1,
        "period_type": "DAYS"
      }
    ]
  },
  {
    "object_type": "TX_EQUITY_COMPENSATION_ISSUANCE",
    "id": "test-plan-security-issuance-minimal-with-vestings-array",
    "security_id": "test-plan-security-id",
    "date": "2023-06-07",
    "security_law_exemptions": [],
    "stakeholder_id": "test-stakeholder-id",
    "custom_id": "CA-2",
    "stock_plan_id": "test-stock-plan-id",
    "compensation_type": "RSU",
    "quantity": "10000",
    "exercise_price": {
      "amount": "50.00",
      "currency": "USD"
    },
    "vestings": [
      {
        "date": "2024-06-07",
        "amount": "3333"
      },
      {
        "date": "2025-06-07",
        "amount": "3334"
      },
      {
        "date": "2026-06-07",
        "amount": "3333"
      }
    ],
    "expiration_date": "2031-06-07",
    "termination_exercise_windows": []
  },
  {
    "object_type": "TX_EQUITY_COMPENSATION_ISSUANCE",
    "id": "test-plan-security-issuance-any-of-block-for-compensation-type-option",
    "security_id": "test-security-id",
    "date": "2019-12-12",
    "security_law_exemptions": [
      {
        "description": "Exemption",
        "jurisdiction": "CA"
      }
    ],
    "board_approval_date": "2021-01-21",
    "stakeholder_id": "test-stakeholder-id",
    "consideration_text": "1.00 USD",
    "custom_id": "CA-1",
    "stock_plan_id": "test-stock-plan-id",
    "compensation_type": "OPTION",
    "option_grant_type": "ISO",
    "quantity": "50",
    "exercise_price": {
      "amount": "50.00",
      "currency": "USD"
    },
    "expiration_date": "2031-01-20",
    "termination_exercise_windows": [
      {
        "reason": "INVOLUNTARY_WITH_CAUSE",
        "period": 1,
        "period_type": "DAYS"
      }
    ]
  },
  {
    "object_type": "TX_EQUITY_COMPENSATION_ISSUANCE",
    "id": "test-plan-security-issuance-full-fields",
    "security_id": "test-plan-security-issuance-full-fields",
    "date": "2019-12-12",
    "security_law_exemptions": [
      {
        "description": "Exemption",
        "jurisdiction": "CA"
      },
      {
        "description": "Extra special exemption",
        "jurisdiction": "CA"
      }
    ],
    "board_approval_date": "2021-01-21",
    "stakeholder_id": "test-stakeholder-id",
    "consideration_text": "1.00 CAD",
    "custom_id": "CA-1",
    "stock_plan_id": "test-stock-plan-id",
    "compensation_type": "RSU",
    "quantity": "100",
    "exercise_price": {
      "amount": "50.00",
      "currency": "CAD"
    },
    "vesting_terms_id": "custom-vesting-100pct-upfront",
    "vestings": [
      {
        "date": "2019-12-12",
        "amount": "100"
      }
    ],
    "expiration_date": "2031-01-20",
    "termination_exercise_windows": [
      {
        "reason": "INVOLUNTARY_WITH_CAUSE",
        "period": 0,
        "period_type": "DAYS"
      },
      {
        "reason": "VOLUNTARY_GOOD_CAUSE",
        "period": 3,
        "period_type": "MONTHS"
      },
      {
        "reason": "INVOLUNTARY_OTHER",
        "period": 14,
        "period_type": "DAYS"
      },
      {
        "reason": "INVOLUNTARY_DEATH",
        "period": 3,
        "period_type": "YEARS"
      },
      {
        "reason": "INVOLUNTARY_DISABILITY",
        "period": 3,
        "period_type": "YEARS"
      },
      {
        "reason": "VOLUNTARY_RETIREMENT",
        "period": 1,
        "period_type": "MONTHS"
      },
      {
        "reason": "VOLUNTARY_OTHER",
        "period": 3,
        "period_type": "MONTHS"
      }
    ],
    "comments": [
      "comment 1",
      "comment 2",
      "a third comment"
    ]
  },
  {
    "object_type": "TX_EQUITY_COMPENSATION_ISSUANCE",
    "id": "test-equity-compensation-issuance-no-plan",
    "security_id": "planless-equity-compensation-issuance",
    "stock_class_id": "common-stock",
    "date": "2019-12-12",
    "security_law_exemptions": [
      {
        "description": "Exemption",
        "jurisdiction": "CA"
      }
    ],
    "board_approval_date": "2021-01-21",
    "stakeholder_id": "test-stakeholder-id",
    "consideration_text": "1.00 CAD",
    "custom_id": "CA-1",
    "compensation_type": "RSU",
    "quantity": "100",
    "exercise_price": {
      "amount": "50.00",
      "currency": "CAD"
    },
    "vesting_terms_id": "custom-vesting-100pct-upfront",
    "expiration_date": "2031-01-20",
    "termination_exercise_windows": [
      {
        "reason": "INVOLUNTARY_WITH_CAUSE",
        "period": 0,
        "period_type": "DAYS"
      },
      {
        "reason": "VOLUNTARY_GOOD_CAUSE",
        "period": 3,
        "period_type": "MONTHS"
      },
      {
        "reason": "INVOLUNTARY_OTHER",
        "period": 14,
        "period_type": "DAYS"
      },
      {
        "reason": "INVOLUNTARY_DEATH",
        "period": 3,
        "period_type": "YEARS"
      },
      {
        "reason": "INVOLUNTARY_DISABILITY",
        "period": 3,
        "period_type": "YEARS"
      },
      {
        "reason": "VOLUNTARY_RETIREMENT",
        "period": 1,
        "period_type": "MONTHS"
      },
      {
        "reason": "VOLUNTARY_OTHER",
        "period": 3,
        "period_type": "MONTHS"
      }
    ],
    "comments": [
      "comment 1",
      "comment 2",
      "a third comment"
    ]
  }
]