Issuing restricted stock awards (RSAs) electronically allows you to grant options to employees entirely on Pulley instead of having them sign documents offline.
There are two requirements to issue options electronically:
The Company has selected a "Certificate Primary"
Draft RSAs have a "Form Document" selected
1. Set a Signatory
First, to set a certificate primary signatory, navigate to Company.
Next, choose a signatory for the certificate primary from the Company Signatories section. Click on Add Signatory and enter the email for the signatory. This person will receive an email from Pulley to accept as a signatory. They will then receive an email to sign for new RSAs that are issued on the Pulley platform.
2. Upload the Form Documents
To upload form documents, navigate to Company > Form Documents in the left navigation.
Next, upload standard documents like "Option Grants - Standard Exercise" or "Option Grants - Early Exercise" and attach them to the new grants. You can then sign them directly on Pulley.
Finally, when drafting RSAs, select the appropriate form in the "Form Documents" selection.
3. Send securities for signing
All newly created RSAs will appear in drafts. Select Select "New securities" to issue RSAs electronically.
Once you select "Collect Signatures", you will be shown the steps required to complete your RSA issuance.
When you select "Issue RSAs" on the below screen, the Certificate Primary Signatory will receive an email to sign and review the options.
Then, the stakeholder will receive an email to view the RSA and sign as well.
After that, the transaction is complete and your cap table will be updated.