A company may cancel the options offered to an employee if the employee leaves the company before they vest.
To cancel units:
- Click Equity Awards in the left menu, select Grants.
- Select the stakeholder or search for the stakeholder.
- Click the menu and select Cancel Units under Transactions.
4. In the displayed dialog box, the grant details are displayed.
5. To specify the date from which options will be cancelled, select the Cancellation Date. Note that the Cancellation date should be between grant date and current date.
6. If you want to cancel both Unvested and Vested units, click Yes in Cancel All Units.
7. Alternatively, you can enter the number of Units to be Cancelled under the Vesting Details table.
8. Type the Reason for cancellation.
9. Type any relevant Comments for the cancelling options.
10. Add Supporting Documents by dragging and dropping the file or click Choose files to add any relevant contract or documents.
- Click Cancel Units to complete the process. This ensures that all cancelled (unvested or vested) units are added to the Cancelled bucket.