Authorized Shares at Share Class
We have enhanced the accuracy and flexibility of managing authorized share balances within our platform. This update is a direct response to valuable feedback from our clients and legal partners, and we are confident it will improve your experience.
Key Changes:
Share Class Level Allocation: Authorized shares are now allocated at the share class level, providing a more precise representation of each company's authorized balance. This field is optional, and if left blank, the balance will be considered unlimited.
Workflow Adjustments: All workflows affected by authorized shares, including shares, plans, grants, convertibles, and warrants, now reflect changes at the share class level. We continue to ensure users do not exceed their authorized share limits.
Settings Relocation: The share settings tab has been moved to the 'Back Office Settings' tab on the company settings page. This tab is accessible only to back office users in CS and onboarding, allowing them to set fractional shares and view any previously authorized shares.
Migration for Existing Customers:
Single Share Class: Companies with an authorized shares limit and a single share class have their balance set for that share class.
No Authorized Shares Limit: Companies with the authorized shares limit turned off have the balance turned off for all share classes.
Multiple Share Classes: Companies with authorized shares on and multiple share classes have received a task in the task center for all full admins to set an authorized limit for each share class.
We are committed to ensuring a smooth transition and are here to assist with any questions or concerns you may have.