Feature Friday #2 Digital Grant Letter

Feature Friday #2 Digital Grant Letter

Another Friday, another Vega Equity Feature to showcase!! This Friday we are very going to tell you how a Digital Grant Letter can be created within a few clicks and Drag & Drop Feature of the product.

We assure you that this will be more exciting and surprising than it sounds. So, let us jump directly to the feature.

As we have promised you an end-to-end digital and paperless management of all your equity needs, so continuing the same with GRANT LETTERS as well. As a practice whenever you grant ESOPs to your employee the immediate next step you take is to issue grant letters to all the employees mentioning the Grant Date, Options Granted, Exercise Price, Vesting Schedule, other T&C, etc.

Now think of doing all these manually one by one for each of the employees wherein your 95% of the file is the same and you are just changing the details w.r.t. each employee and burning your precious man-hours.

Actions you need to perform in Vega Equity’s Platform for creating a Digital Grant Letter:

• Go to Manage > Click on Grant Letter Template > Click on Add New Grant Letter
• A new window (like MS WORD) will open
• Add the Title/Name of the Grant Letter & in the Body of the page, start writing or copy-paste the Grant Letter (if you have a saved version)
• For all the Variable, you can Drag & Drop the PARAMETERS from the List on the right hand
• We have provided almost all the parameters which are required in any Grant Letters but in case you still want to have more parameters, that can also be added with a few clicks. - Examples of available parameters are – Employee Name, Grant Date, Options Granted, DOJ, Department, Designation, Exercise Price, PAN No, Vesting Schedule, Organization Logo, Employer & Employee E-Signatures, etc.

And the most interesting thing over and above all is that all these parameters or variables are auto printed on the Grant Letter within 30 seconds of the Grants made. For example – If your organization has granted ESOPs to 150 Employees through this platform, then after clicking on the SUBMIT Button, all the employees will receive an Auto-Generated email from Vega Equity which informs the employees about the Options being Granted to them and redirects to the Vega Equity Portal for ACCEPTING and SIGNING the Digitally Generated Grant Letter.

And guess what? This will hardly take a few minutes!

If you’d like to try Vega Equity out and see all the?ESOP Management features?in action, you can book a demo?here.

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