Active: this is the status applied to a normal option grant on Orchestra. Automatic vesting schedules process. The options show in the 'Total options granted' pool figure, and their state (unvested, vested or exercised) will be reflected in the respective pool total. The option holder can login to view their options on Orchestra (after you have invited them to create their Orchestra login). Vesting notification emails are sent to the option holder.
Cancelled: this status may be used when an option holder departs your company and they will no longer hold onto any of their options. Automatic vesting schedules do not process. All of the granted options are returned to the pool for reallocation. The option holder cannot view their options by logging into Orchestra.
Disabled: this grant status can be used when loading a new option grant, but you don't have all of the information required to complete the set up. The options will show as available to be granted in your pool total (they are not recorded as granted yet). The option holder cannot view their options by logging into Orchestra. Note: automatic vesting schedules do not process when an option grant is disabled.
Expired: when the 'Option expiry date' is reached the option status changes to expired. Automatic vesting schedules do not process. The unvested and vested options are returned to the pool for reallocation.
An option grant may have a mix of exercised and expired options. The exercised options are shown in the pool totals for 'Total options granted' and 'Exercised options'. The unvested and vested options have been returned to the pool for reallocation and are shown in the figure for 'Total options available'.
If there are no exercised options then the option holder cannot view their options by logging into Orchestra. If there are exercised options then the investor can view their shareholding by logging into Orchestra.