Here is a step by step guide to importing your data into Shareworks Startup. It’s similar to using a spreadsheet, only more powerful.
After logging in, you should land on the first step of the import, Primary Issuances.
This screen looks, feels, and behaves much like a typical spreadsheet.
You can copy and paste data between cells and from other data sources using shortcut keys (CTRL/CMD+C and CTRL/CMD+V, no right clicking).
Cells with a downward arrow on the right side are dropdown menus that allow you to select from pre-existing data.
Clicking on the numbers at the bottom of the screen takes you from step to step.
Step 1: Common Shares
To create a common issuance, just select the first cell in the upper-left corner of the spreadsheet and type in a shareholder name.
The cells for Date, Shares and Price Per Share will turn red. Red cells indicate missing or invalid data:
After you fill out the remaining cells, you’ll see a spinner to the left of the row indicating that the record is saving. A green checkmark will appear to the left of the row once the record is saved:
NOTE: You can enter in a certificate name like “CS-1” if you want, but we’ll auto generate it if you leave it blank.
At the very bottom of the screen next to the sheet tabs you’ll notice a toggle button:
Clicking this toggle will expand the spreadsheet to include a few more columns to provide you with more advanced functionality:
The advanced fields give you the ability to record restricted stock issuances by specifying a Vesting Plan, Equity Plan, 83(b) Election File Date, and so forth. You can also specify exemption dates and add notes as well.
NOTE: You’ll notice that we’ve pre-populated the Federal Exemption field with Rule 701, which is the standard exemption in most cases.
Step 2: Preferred Shares
Using the tabs at the bottom of the screen, click on the “Preferred Issuances” tab to navigate to the preferred spreadsheet:
For the “Security Name” column, enter in the name of the security that the issuance belongs to. You can adjust the security settings at a later step.
The advanced toggle gives you more columns with things like Certificate ID, Approval Date, Exemptions, and Notes.
NOTE: You can enter in a certificate name like “PS-1” if you want, but we’ll auto generate it if you leave it blank.
Step 3: Options
Using the tabs at the bottom of the screen, click on the “Option Grants” tab to navigate to the options spreadsheet:
In the “Equity Plan Name” column, just enter the name of the plan the option grant belongs to. You can adjust settings at a later step.
For the “Vesting Plan” column, we’ve automatically created a couple standard plans to choose from. Or you can type in a custom plan that you can customize at a later step.
The advanced toggle gives you more columns for things like exemptions, specifying early exercisability, approval dates, etc. You can also specify the option’s underlying security, which is Common by default.
Step 4: Warrants & Convertible Securities
Hopefully you’re getting the hang of things by now. The steps for uploading warrants and convertible securities is similar to all the previous steps.
You’ll notice the “Underlying Security” column on the Warrants sheet. Here you specify the security for which the warrant holder has a right to purchase.
Step 5: Secondary Transactions
Next, click on the “Transactions” step at the bottom of the import page (we’ll just walk through the exercises tab to help you get the hang of it):
Use the first column to select the “Grant ID” of the option or warrant you want to exercise. This is populated from grants you’ve already recorded:
The advanced columns give you the option to specify the name of the certificate that the option or warrant exercises into. If this is not specified, we’ll automatically generate certificates for you.
NOTE: Any unvested shares that are exercised for options will automatically be converted into restricted stock with the appropriate vesting schedule.
Step 6: Shareholders
Click on the “Shareholders” step at the bottom of the screen. Here is where you can easily add information about all your shareholders. You’ll notice that the sheet is already populated with the shareholders you’ve issued shares to in the previous steps.
This step is optional, but if you plan on inviting shareholders to view their shares or are performing a stock expense report, you’ll want to fill out things like email address, shareholder type, and department.
Step 7: Securities
Clicking on the “Securities” step of the import screen takes you to a list of all the securities you created when issuing shares in the previous steps:
Hover over one of the rows to show the menu for the edit and delete buttons on the right. Click Edit to reveal the available options for that security.
Here is where you’ll specify things like authorized shares, liquidation preferences, dividends, etc. After you’ve made changes to a security, click the Save button at the bottom of the form.
Step 8: Equity Plans & Vesting Plans
The “Equity Plans” step of the import screen shows you all the Equity Plans you created when issuing shares, as well as Vesting Plans and Expiration Policies.
Hover over a row for your equity plan to reveal the menu where you can select the Edit and Delete buttons. Click Edit to open the form where you can change the details of the option plan.
Now click on the Edit button for the “4-Year Cliff” vesting plan. You’ll see a form that looks like this:
You’ll notice that vesting plans are highly customizable. You can specify a Change of Control Trigger, Rounding Policy, Day of the Month on which vesting occurs, etc. You can create any combination of vesting periods to create custom vesting schedules.
Step 9: Seniority
The “Seniority” step is where you specify the order in which the preferred securities receive their preferences. The higher the tranche number, the higher the seniority.
For example, if Series B receives their preference before Series A, you would place Series B in Tranche 2 and Series A in Tranche 1.
Not sure what the preference stack looks like on your cap table? The best place to look is the company’s certificate of incorporation. There’s usually a section on liquidation preferences that lays out the order in which the different preferred securities receive their preferences.
You might have to wade through some legal verbiage to figure it out, but it’s there in the wording.
Step 10: Invite others to the cap table
This is the last step in the import process. You’ll notice that we’ve already listed all the shareholders on the cap table. If you’ve entered their email addresses in the Shareholder step, you’ll see their emails listed here.
Find a shareholder on the list you want to invite. If they don’t have an email yet, click their menu, then click “Add Email” button:
By default shareholders are given the most basic level, Restricted. If you’d like to invite them with higher permissions, remove the placeholder user and go to Actions > Add User to select a higher level.
There are three access levels available:
Restricted: Access is restricted to personal holdings and documents. They cannot make any changes or see their holdings relative to anyone else.
View: View access allows the user to see the entire cap table, but they cannot make any changes to the data.
Edit: Edit access allows the user to see the entire cap table and make changes to the data. They can also invite or remove other users.
Once a shareholder has an email address, just click the “Send Invite” button on right side of the row:
To invite multiple shareholders at once, select them by clicking on their row (selected rows turn blue with the checkmark checked on the left), then click the “Actions” button in the top right:
Click the “Finished” button in the top right to exit the import. You’re done!
From here you can click on the menu icon in the very top left of the screen to expand the navigation drawer and start exploring Shareworks Startup’s features.
Run into any snags? Something wasn’t clear? Feel free to contact us for support or tell us how we can improve this tutorial.
You can also chat with us right from the app by using the blue chat tool in the bottom right of the screen.
We hope you enjoy using Shareworks Startup!