Mass grants are best used when multiple reporting owners are receiving or disposing of the same type of security. The issuer and the security type (derivative or non-derivative) need to be the same. Mass grants can be attach to existing unfiled forms or used to create new forms.
Prior to making a mass grant, you may need to review the reporting owners' pages to determine whether you will need to differentiate from an existing grant. This can be done with a differentiating factor such as a footnote or date. To use a footnote, see Differentiate a Holding in the Use Footnotes article.
Set up a mass grant
Mass grants can be set up through the Filers tab or through the Forms tab. Derivative grants require price information while non-derivative grants do not. Other details about the transaction are required for both types of grants. Set up your mass grant through one of the following methods.
OPTION 1
Set up a mass grant through the Filers tab:
- 1
- Click the Filers tab and then the Reporting Owners sub-tab.
- 2
- Select all members who will receive the grant. Reporting owners must have the same issuer.
- 3
- Choose Create Mass Grant from the More menu at the top of the member list.
- 4
- This will take you to the Add Mass Grant wizard. Choose the Grant Type in the drop-down. Then click Next.
OPTION 2
Set up a mass grant through the Forms tab:
- 1
- Go to the Mass Grants sub-tab under the Forms tab. Click the New Mass Grant button.
- 2
- Select the owners involved in the transaction. Reporting owners must have the same issuer.
- 3
- This will take you to the Add Mass Grant wizard. Choose the Grant Type in the drop-down. Then click Next.
Create a mass grant
Once you have chosen the reporting owners and grant type for a mass grant through either of the above options, you'll add final information to create and complete the mass grant.
To create a mass grant:
- 1
- Enter information in the wizard including the Grant Name, Grant Date, Security, Ownership Form and Date of Transaction. Include other optional information as desired. If you followed the Forms path to set up your mass grant (see section above), this will be Step 3 rather than Step 2. Non-derivative transactions will not display fields for Conversion or Exercise Price, Date Exercisable, or Expiration Date. Also note that the security and underlying security cannot be the same. Once you've entered the necessary information, click Finish.
- 2
- On the New Mass Grant page, you can enter the details of the mass grant transaction. Areas where information is still required will be shown in red.
- 3
- Changes made to the mass grant transaction at the top of the page will be applied to the individual transactions shown below. However, changes made to an individual transaction will take priority over changes made to the mass grant transaction at the top. This can be useful if you have several similar transactions that differ only in certain areas such as the number of shares.
- 4
- Under the More menu at the top of the page, you also have options to Add Reporting Owners or Copy Mass Grant. New reporting owners can be selected in the dialog box that appears. For more information on copying a mass grant, see section below.
- 5
- Once your transaction data is complete, you will receive a successful validation message. Click the Create Forms button in the upper left-hand corner.
- 6
- If a reporting owner has existing unfiled forms, you will be presented with the option to append the unfiled transactions. You can add one or more mass grants to the same unfiled form. If this box is not checked, new forms will be created for the reporting owners.
- 7
- After completing your mass grant, the Unfiled Forms sub-tab will open under the Forms tab. You will find individual forms for the new transactions and the appended unfiled forms. After a mass grant has been created, you will not be able to edit any of the information. You can edit individual forms or create additional mass grants.
Remove a mass grant
If you'd like to remove a mass grant, go to the Mass Grants list under the Forms tab. From here, click Delete, then confirm to remove the grant. Any stock added to individual forms through the deleted grant will immediately be removed.
Edit mass grant name or date
If you'd like to update the name or date of a mass grant, go to the Mass Grants listing under the Forms tab. Click Edit to the right of the grant listing. Enter the grant's new name or date and click Save.
Copy a mass grant
You can copy a mass grant to create new forms using the same information. Open the More menu on the Mass Grants tab for a particular mass grant and select Copy.
Enter a new name or date for the mass grant in the dialog box. Click the Copy button. You will be brought to the transaction details screen, where previous mass grant information will already be entered. Transaction information can now be edited as needed.
