Skip to content

EquityCompensationIssuance

Object - Equity Compensation Issuance Transaction#

https://raw.githubusercontent.com/Open-Cap-Table-Coalition/Open-Cap-Format-OCF/main/schema/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 not present, security is fully vested on issuance. -
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-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",
    "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"
    ]
  }
]

Copyright © 2024 Open Cap Table Coalition.