To exercise options in an ESOP pool you need to be logged in as a company Administrator. If you're exercising options for the first time then you may like to set up a funding round (eg. ESOP Exercise) to group the share transactions for easy reference on your transaction history.
In the left hand menu select 'ESOP and Options'. Click 'Manage pool'. Click on the grant holder name to enter the option grant that you will be exercising from.
Click 'Exercise Options' under 'Grant history'.
If you are ready to exercise the options straight to your share register, click the '$ Create share transaction' button. If you're going to issue shares later, use the fields under 'Manual exercise'. Don't forget to come back later and issue the shares!
You will be transferred to the 'Transfer / share issue' page where you can issue the options as shares on your share register.
If the option holder's shares will be issued to an alternative entity (for example a trust or a nominee company) you can select the entity from your dropdown list in 'New shareholder (to)' if they are an existing shareholder, or click 'Create New Shareholder'.
Enter the 'Type of share', 'Funding round', 'Number of shares' and 'Date executed'. If you're issuing into an alternative entity such as a nominee company, you can add the option holder name to 'Notes'. Supporting documents (such as the Option Exercise Notice from the employee) can be added to the transaction.
We recommend using a funding round (eg. Exercised Options) to group ESOP-related share issues and easily identify them on your transaction history.
When the transfer particulars have been entered, click 'Continue'. A confirmation window will pop up. Review the share transaction and if the details are correct, click 'Confirm'. An automated email will be sent to the shareholder notifying them of the options that have been exercised.
Back on the option holder's Grant history there will be an entry for the exercise event.