When an employee who holds Restricted Common stock leaves the company, their unvested portion of their stock is typically repurchased, usually at a preset rate that was specified at the time of grant. This article reviews the process of entering that termination and repurchase in Shareworks Startup.
Find their Shareholder Page in Shareworks Startup. This is most easily done by typing their name into the search bar at the top of the page.
Terminate the individual by going to Actions > Terminate. Enter the appropriate date and reason, and decide whether you want Shareworks Startup to simply handle any cancellations of unvested options:
If you selected ‘Automatically Handle Cancellations’ then you’re done, Shareworks Startup will automatically take care of the repurchase or cancellation of unvested shares.