Performance condition support for Profit Interests, certificates and RSAs
What's new
Performance conditions are now supported for three new security types: Profit Interests, certificates and RSAs.
How does it work?
In order to add a performance condition to a security, it first needs to be created via the Vesting and securities templates page.
Once there, navigate to the performance conditions tab, click Create performance condition and follow the workflow.
After the performance condition has been created, it can be attached to any option grant, RSU, certificate, RSA and profit interest unit via the draft workflow or by modifying the vesting schedule.
Once a performance condition has been achieved, it has to be recognized to affect the securities it is connected to.
After clicking the option to Recognize, the required fields have to be filled out to proceed.
If the performance condition was achieved with a payout percentage below 100%, unvested shares will either need to be forfeited or repurchased.
In these case, the original security will be canceled a new one will be issued with the vested shares.
How can I learn more about this topic?
