If you need to create an equity plan using Pulley, follow this workflow.
If you already have an equity plan and need to record that in Pulley, please follow these steps to record your equity plan.
There are two places you can create an equity plan.
Note: Both workflows lead to the same outcome!
Under the Hire and Retain tab on the left hand navigation, click Equity Plans.
You may also find Equity Plans under the Cap Table tab.
2. On the right hand side of the page, click the green button called "Add Equity Plan"
There are two options on this page:
A) Create an Equity Plan
This is Pulley generated using a template.
Filling in this form will create a legal document that creates your equity plan. You can then board approve your equity plan for use using Pulley’s Board Approvals feature.
Note: You can issue equity to individuals of the following countries with this equity plan: EU member countries, Australia, Brazil, Canada, India, Poland, United Kingdom, United States
Refer to our Equity Plan example here: Equity Plan Sample PDF
B) Record an Equity Plan
Upload the plan you've created outside of Pulley.
Note: If you already have an equity plan and need to record that in Pulley, please follow these steps to record your equity plan.
3. The following details are required to start your equity plan:
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.
You also have the ability to update the Post Termination Exercise information at initial plan creation. Fill this out if you have them.
4. Save Equity Plan
Click on the checkbox to create a legal document. Please confirm you have read the disclaimer.
5. Get Board Approval
Upon plan creation, you will be redirected to the Equity Plans page and prompted to get board approval.
Disclaimers:
This feature is designed for companies to set up their first equity plan with standard terms.
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