1. Under the Hire and Retain tab, click Equity Plans
2. Add Equity Plan details. Fill in the following:
Equity Plan Name: For eg., 2019 Stock Plan. Equity Plan names usually include the year of creation.
Share Class: The class of share you are issuing. "Common" is most common.
Plan Size: This is typically 10-15% of common shares.
3. Get Board Approval
Upon plan creation, you will be redirected to the Equity Plans page and prompted to get board approval.
Note:
This feature is designed for companies to set up their first equity plan with standard terms.
Refer to our Equity Plan example here: Equity Plan Sample PDF
If you need a customized equity plan with non-standard terms such as an extended post termination exercise window, this will need to be drafted and approved off-Pulley in conjunction with your legal team and then recorded on the cap table according to this guide: How to Record an Equity Plan