You can interact with token grants on Pulley in one of two ways:
Issue new grants, which allows you e-sign new grants and approvals on Pulley with any document of your choosing (or one of our templates).
Record existing grants, where you can submit past agreements to reconcile with our token cap table.
Once grants are recorded, Pulley automatically track details like vesting, unlocks, and distributions, and informs you of upcoming events related to your cap table.
Grant Types
Tokens: Tokens typically issued outside of plan. Exercised warrants and options convert to the 'Token' type. Also may include things like token subscription/sale agreements (TSAs).
Restricted Token Awards: Tokens issued outright (often very early-on). These come with transfer and vest restrictions even though the stakeholder 'owns' them from day one.
Restricted Token Units: Rights to acquire tokens, that will be distributed upon satisfying certain conditions (usually time or milestone vest events).
Token Options: The option to 'buy' or exercise tokens in the future at a fixed price.
Token Warrants / Side Letters: The right to acquire tokens in the future for a predetermined price or discount. Usually issued to investors in conjunction with equity agreements (if applicable).
SAFTs: A promise for future tokens at a fixed price (often issued to investors).
Grant Structure
Specific details for token grants will differ based on the grant type (for instance, an option will have an exercise price whereas an RTU will not). Grants surface key information from the agreements around the structuring details, stakeholder information, and vesting/distribution information. Structure:
Documents. The underlying token agreement you wish to issue or record
Grant Information. High-level details including stakeholder information, quantity, price, issue date, and attached plan and token class.
Vesting, Distribution & Lockups. Most grants we see on Pulley are subject to some form of vesting or transfer restrictions. In this section you can customize these details to match your specific distribution needs.