How to terminate stakeholders through the stakeholder ledger
If an employee holding unvested equity awards is terminated, it's important to remove them from the stakeholder ledger. This prevents them from earning any more unvested shares and ensures that the unvested shares they had go back into the equity pool.
All companies have the ability to process terminations through the stakeholder ledger, either individually or in bulk.
To terminate one or more stakeholders from the stakeholder ledger, navigate to Essentials > Manage stakeholders.
Check the box to the left of each stakeholder you’d like to remove.
After selecting all relevant stakeholders, click Bulk actions and select Terminate selected stakeholders.
Terminate an individual stakeholder
You can also click the three dots at the end of a ledger row and select Terminate stakeholder to terminate just that stakeholder.
Update or complete the New relationship, Termination type, Termination date, and Contact email fields for each stakeholder. The termination date and type will be used to set the stakeholder’s last day to exercise or repurchase any applicable securities.
For details of any impacted holdings, click the > to the left of a stakeholder’s name. To update the Last day to exercise, click Edit. After reviewing all relevant equity information, check the first box to confirm the remaining days to exercise.