New Share Class Type to support Growth Shares
What's new?
For UK customers who have a growth shares plan, they now have the ability to assign a dedicated share class type to support their plans.
How does it work?
This new share class needs to be added prior to adding a growth shares plan. To do this, company administrators can navigate to the share classes screen, click ‘Add Share Class’ and select ‘Growth Shares’ as the share class type. This share class must be associated with a pool on the ‘Plan Management’ screen. This pool can then be linked to a growth shares plan and granted to stakeholders on the ‘Equity Grants’ screen.
Why is it important and how am I affected?
UK Growth Shares typically are set up with their own dedicated share class. The company cap table will now show the number of shares issued and reserved for growth shares. All existing growth shares plans on the platform will not be impacted by this change. It is not possible to update the share class type on any existing share classes.