Product Updates- November 2023

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1. Net Exercise: Net exercise provides a convenient method for employees to exercise their stock options without needing to pay the entire exercise price or tax immediately. In this approach, either a portion of the shares is sold, or the company withholds some shares to cover the exercise price and taxes. This option is particularly beneficial for employees who wish to exercise their options but lack the necessary funds. To make this option available to your employees, follow these steps: Go to Settings > Configurations

> Exercise Configuration, and then  access  the Payment  Configuration tab. Activate the Net Exercise Configuration setting. Additionally, decide if you wish the quantity of shares withheld to be reincorporated into the available pool. When Net Exercise is activated, employees can choose between using "Own Funds" or "Net Exercise" when they exercise their options.

a. Employee Process:

i) Initiate the process by clicking the 'exercise options' button and providing the required information.

iii) Choose between “Own Funds” or “Net Exercise” to proceed with exercising the options.

iii) Review the calculations for the Quantity Withheld and the number of shares to be issued.

iv) Finalise by clicking “Next” and submitting your exercise request.

b. Admin Process:

i) An Employee initiates an exercise request and selects “Net Exercise” as the payment mode.

ii) As an admin, review all the provided details and approve the request by clicking the approval button.

iii) Verify the calculations for “Quantity Withheld” and “Shares to be Issued.” Based on these, approve or disapprove the exercise request.

iv) Following approval or disapproval, the total quantity available in the pool will adjust according to the “Net Withheld” configuration.

c) Reports Impacts:

i) Pool Balance

ii) Exercise Reports

2. The ability for Admins to configure the FMV widget in the Employee Dashboard: Admin shall be able to configure the FMV widget by navigating to the following path: Settings > configurations > Dashboard > Custom Dashboard > Edit  employee dashboard > Add new widget > Fair Market Value (FMV) > Save

3. Ability for administrator to configure Trend chart in the FMV Widget: If a particular issuer wants to display the trend chart for FMV, it can be configured by navigating to: Settings > configurations > Dashboard > Custom Dashboard > Edit employee dashboard > FMV widget.

i) Click on the settings icon to view the configuration for the trend chart as shown below.

ii) When the trend chart is disabled, the FMV widget will display only the current share price as configured by the administrator.

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iii) When the trend chart is enabled, the FMV widget will display the current share price and populate the trend chart for up to the previous 10 FMV configured by the administrator. If there is only 1 FMV added for the issuer, then the trend chart will not be displayed in the FMV widget.

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4. The ability for an administrator to Confirm Receipt when signing exercise form is not required.

a. We have now given the ability that if exercise request is in Awaiting exercise declaration and ‘Is signed exercise form required’ is set to No, then admin shall be able to proceed with payment confirmation and exercise approval process.

5. Ability for administrator to update payment status Issuer Preference to hide FMV in the Employee Login from Approve details page when signed exercise form is not required.

6. Ability for administrator to update payment status and approve exercises from Bulk selection – Confirm Receipt.

7. Issuer Preference to hide Exercise Price in the Employee Login: Through backend requests, exercise price can be hidden in the Employee login for specific Issuers.

8. Issuer Preference to hide FMV in the Employee Login: Through backend requests, FMV can be hidden in the Employee login for specific Issuers.