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How To Record An Option Exercise In Fidelity Private Shares

Introduction

This article outlines the steps for uploading a completed option exercise to your account using the Stock Option Exercise workflow. In the workflow you will be prompted to upload the exercise agreement, upload proof of payment, and select the method for the resulting stock certificate. 

For steps on exercising your options in the platform please refer to our article How to Exercise Options. 

The Exercise (Upload Only) Workflow

Select Grant

  1. Enter the name of the Stockholder. 

  2. Select the exercised grant from the dropdown menu and click Continue.

Upload Exercise

  1. Click Document Options to upload the exercise document from yourru computer, or select the document from the Data Room. 

  2. Enter in the details of the exercise:
    • Exercise date: the date on which the grantee submitted the exercise.
    • Number of shares purchased
    • Payment type
    • Fair market value (FMV) on exercise date: the FMV on the exercise date, not the grant date.
    • Exercise price per share
  3. Click Continue.

Proof of Payment

  1. Provide the proof of payment for the option exercise. Proof of payment can take the form of a photo, a scan of a check, receipt of wire transfer, etc. You can also choose to waive this document.
  2. Click Document Options to upload the proof of payment from your computer, select the document from the Data Room, or select to defer or waive the document. 
  3. Click Continue.

Select Stock Certificate Method

Select which method to use for the resulting stock certificate:

  • Generate new stock certificates in Fidelity Private Shares
  • Defer generating stock certificates 
  • Upload an existing stock certificate.

See this article for more information on generating certificates on the platform.

Checkpoint

At the Checkpoint step, you can review the details of the exercise, all uploaded document(s), and the generated certificate, if applicable. Clicking Continue will execute this exercise, meaning that the exercise is recorded in the cap table and other related reports, the stock certificate will be sent out for signature (if applicable) and the option holder will be able to view their stock certificate in the platform at any point. They will also be notified of any new stock certificates in their name, if they were generated.

Screenshots are for illustrative purposes only.

Fidelity Private Shares LLC provides cap table management and/or other administrative services to private companies and their equity compensation plans, and to investors in the private markets.

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