Colorado Approval of option grant
Description
How to fill out Approval Of Option Grant?
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FAQ
When employees are granted an asset on day one, they don't have full control over it until the vesting period has passed. Once it has passed (you can also say the employees have been fully vested), they own the asset and can exercise (i.e. purchase) it or sell it.
In US companies, an option grant is typically awarded to an employee, advisor or other individual who performs services for the company, and the option can be exercised during the term of service to the company and for a finite period of time following cessation of services.
What is the Grant Date? A grant date is the date on which a stock option or other equity-based award is granted to the recipient. The grant date is considered to be that date on which an employer and an employee agree upon the most essential terms and conditions associated with the award.
When you're granted stock options, you have the option to purchase company stock at a specific price before a certain date. Whether you actually purchase the stock is entirely up to you. RSUs, on the other hand, grant you the stock itself once the vesting period is complete. You don't have to purchase it.
When a stock option vests, it means that it is actually available for you to exercise or buy. Unfortunately, you will not receive all of your options right when you join a company; rather, the options vest gradually, over a period of time known as the vesting period.
A stock grant provides the recipient with value?the corporate stock. By contrast, stock options only offer employees the opportunity to purchase something of value. They can acquire the corporate stock at a set price, but the employees receiving stock options still have to pay for those stocks if they want them.
The grant date for your ISO is the date you are awarded the options. The value of the shares on the grant date helps determine your exercise price. The vesting date is the first date your options become available.
Failure to get board approval Let's start with an obvious one that founders routinely miss in the early days: Stock option grants must be approved by the board. If the board doesn't approve (either at a board meeting or by unanimous written consent), the stock options haven't actually been granted.