Product Updates: December-2023

New Features

1. Ability for the employee to view Summary and Vest wise details of Option awards granted to them in the employee Login.

 a. Navigate to Equity Awards > Summary of your option awards > Download. The report will be available as part of Notifications

2. Ability for Admins to Configure the value of Current Holdings widgets in the Employee Dashboard

a. Admin shall be able to configure the widget by navigating to the following path:

Settings > Configurations > Dashboard > Custom Dashboard > Edit Employee Dashboard > Add new widget > Value of your current holding widget > Save

b. Terminologies:

  i. Value of Current Holdings at Grant: Value of outstanding options as on grant date

 ii. Current Value: Value of outstanding options as on current date

 iii. Value of Vested: Value of vested options as on the current date

 iv. Growth %: Growth between Value of Current Holdings at Grant and Current value

  v. For information on calculations, please refer to the tool tip provided in the Widget.

3. Vesting schedule graph and Granted Summary included in View Award

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4. Equity Award Dashboard – Custom Role User

                     a. Custom Role Users can now get the ability to view the Equity Award Dashboard. - Custom role user without Equity Data Access Tag associated - Custom role user associated with Equity Data Access Tag

Note: Tasks on the Pending Tasks widget are yet to be handled for custom role user associated with equity data access tag.

5. Email Customization:

             a. The following 4 emails can be customized by the backend team on request.

                           i. User Invite

                           ii. Reminder of User Invite

                            iii. Accept Option/ Share/ SARs

                            iv. Reminder Email for Option/ Share/ SARs

6. Email Notifications to the custom admin role

                  a. The following 8 emails (as shown in the image) can be enabled/ disabled for admin or Custom Admin Roles.

                       b. Admin can go to “Manage Recipients” and select which group of users or individual user should receive the specific email.

7. Ability for administrators to generate Stock Price Report from Reports module

                   a. Admin can access Stock Price Report by navigating to Reports module > Other > Stock Price Report.

                   b. The folder ‘Other’ will be visible only if Listed company details have been configured at this path: Settings > Configurations > Issuer settings > Listed company settings.

                   c. By clicking on Generate Report, Admin can choose the date range and stock exchange to download the stock price data for upto last 1 year.

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8. Ability for administrator to allow exercise of underwater options.

            a. We have added a configuration for Administrators to allow exercise of underwater options.

             b. The configuration can be accessed by navigating to Settings > Configurations > Equity Award - Other configurations > Exercise Configurations - Option Awards > Other configurations > Underwater Options.

             c. This setting is set as ‘No’ by default for all existing and new issuers.

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Additionally, added a validation in the exercise flow so that a stakeholder is restricted from exercising underwater options (i.e., when FMV is lower than exercise price for a particular grant).

The validation will be applicable by default for all existing and new issuers going forward.

9. Ability for administrator to enable configuration ‘Validate exercise amount’.

                 a. This is to ensure that the exercise amount payable should at least be equal or greater than the Par value of the security class through which the units are exercised.

                 b. The configuration can be accessed by navigating to Settings > Configurations > Equity Award - Other configurations > Exercise Configurations - Option Awards > Other configurations > Validate Exercise Amount.            

                 c. If an issuer wants to enable this logic of exercise amount calculation, then the setting should be enabled to Yes. By default, it will be set to No for existing and new issuers.

                    d. Impact of the same has been handled in Security Class and Employee login

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Enhancements

1. Surrender Screen – Admin User:

           a. Introduced “Universal Search” field in the surrenders screen [All Surrenders, In Progress and Completed Surrenders

            b. Admin and Custom Admin users can now search or sort the surrender request by “Surrender Request ID” and “Stakeholder Name”.

2. Lapse of options for grants in Pending Approval and Pending Acceptance

              a. Existing Implementation: Even though the end date of exercise has passed by units would only lapse for Accepted grants. It would remain in Vested/Unvested based on the vest date for grants in Pending Approval and Pending Acceptance.

               b. Current Implementation: If the end date of exercise passed by then units would lapse for grants in Pending Approval, Pending Acceptance and Accepted.

3. Equity Slip –

                a. We have now introduced a new mode of generation “Manual”, which is set to be default mode for all the Equity Slip feature subscribers.

               b. Admins can view the latest quarter’s equity slips and review the data before publishing it to their employees.

                c. If the employee email notification configuration is enabled and the mode of generation is “Manual”, emails will be sent to employees only after publishing the equity slip for the selected period.

                d. On the employee login, users will see only the Published equity slips for the last and upcoming quarters.

                 Note: Equity slips for the previous quarters which are generated via auto generate mode will be available to the employees.

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