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Variables for document workflow templates (grant letters, exercising letters...)
Variables for document workflow templates (grant letters, exercising letters...)

Document templates can be created and uploaded to Ledgy to be filled in with the information from the corresponding transactions.

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Written by Support Team
Updated over a week ago

Here is a list of the supported variables that can be used in your document templates.


General variables

Variable

Example

Description

{today}

18 Mar 2020

Date of today

{currency}

EUR

Transaction's currency


Stakeholder variables

Variable

Example

Description

{stakeholder.name}

Elon Must

Stakeholder's name as inserted on Ledgy

{stakeholder.email}

{stakeholder.nationality}

US

{stakeholder.birthdate}

28 Jun 1971

{stakeholder.notes}

Stakeholder's Internal Notes

{stakeholder.address.line1}

Rocket Road 1

{stakeholder.address.line2}

c/o SpaceX Corp.

{stakeholder.address.postcode}

9808

{stakeholder.address.city}

Hawthorne

{stakeholder.address.country}

India

{stakeholder.identifier}

EM-1234

{stakeholder.personalEmail}

Usage

Stakeholder variables can be used wherever a stakeholder is involved.

The base prefix is "stakeholder". When adding variables to your template document, you may reference any of the sub-fields of the stakeholder, e.g. {stakeholder.name}, {stakeholder.email}, etc., as shown in the example below.

On Transfer templates, the transfer prefix is "fromStakeholder". E.g. {fromStakeholder.name} is the variable to denote the stakeholder from which the transfer originates.

One quick way to view and edit stakeholder properties is using Bulk Import and Edit (Stakeholders > "Bulk" button at the top bar). The easy-edit spreadsheet is designed to make adding, updating and checking stakeholder information effortlessly.

In the event that a template variable is used, but the stakeholder information is missing, we have also added a template validation feature that checks for misspelled variables or missing inputs in transactions before the document is created.


Stakeholder beneficiary variables

A beneficiary refers to the economic beneficiary of a transaction and first needs to be added to Ledgy as a stakeholder. At each individual transaction level, a stakeholder beneficiary can then be designated. This will then also reflect in the Usage column on the Stakeholder page.

The stakeholder beneficiary's personal details can also be retrieved during the templating workflow.

The base prefix is ''beneficiary". Similarly to the stakeholder variables, combine the prefix with any of the beneficiary's sub-fields e.g. {beneficiary.name}, {beneficiary.identifier} and {beneficiary.address.postcode}, and custom fields.

See the guidance on Custom stakeholder variables for more details.

Variable

Example

Description

{beneficiary.name}

Elon Must

Stakeholder's name as inserted on Ledgy

{beneficiary.email}

{beneficiary.nationality}

US

{beneficiary.birthdate}

28 Jun 1971

{beneficiary.notes}

Stakeholder's Internal Notes

{beneficiary.address.line1}

Rocket Road 1

{beneficiary.address.line2}

c/o SpaceX Corp.

{beneficiary.address.postcode}

9808

{beneficiary.address.city}

Hawthorne

{beneficiary.address.country}

India

{beneficiary.identifier}

EM-1234


Option, warrant, and phantom grant variables

Variable

Example

Description

Follow the link to see the available stakeholder variables that can be used

Follow the link to see the available vesting variables that can be used

{amount} or {granted}

10,000

The number of grants being granted

{sharePrice}

2.00

Grant's purchase price (price to pay per each of the grants to receive them - usually applicable for Warrants)

{totalSharePrice}

20'000

The amount to be paid by the stakeholder to receive all their grants
= {amount} * {sharePrice}

{strikePrice}

3.1415926535

Grant's strike/exercise price (price to pay per each of the grants to exercise them - usually applicable for Options and Warrants

{totalStrikePrice}

31,415.926535

The amount to be paid by the stakeholder to exercise all their grants in the future
= {amount} * {strikePrice}

{date}

12 Jul 2020

Date of the grant

{expiryDate}

12 Jul 2025

{notes}

Grant transaction's internal note

{investment}

20,000.00

The amount payable by the stakeholder to receive the grants
= purchase price * granted amount

{dilutedShareCapital}

100.00

= number of grants issued * nominal value per grant


Vesting variables

Variable

Example

Description

{vesting.startDate}

1 Jul 2020

{vesting.duration}

48

Vesting duration in months

{vesting.interval}

1

Vesting interval in months

{vesting.cliff}

12

Vesting cliff in months

Usage

Vesting variables can be used wherever vesting or reverse vesting can be added. You may reference any of the sub-fields of the vesting, e.g. {vesting.duration}, {vesting.cliff}, etc., as shown in the example below. Currently, templating only supports simple vesting schedules.


Dynamic transaction variables

{automation:updateGrantDateFromSignature}

The grant date is automatically updated in the app when fully signed by all associated parties

{automation:finalSignedDate}

The variable will update to show the final signatory date when fully signed by all associated parties.

Example: 12 Nov 2023

N.b. this variable only applies for Ledgy signatures (where signatory provider is Ledgy).

**Final Signatory Date:

The variable will be appended with the final signatory date when fully signed by all associated parties.

Example: **Final Signatory Date: 10.19.23

(Tip: use a light colour for the variable text as this will also appear on the document. To prevent the text from showing on the document, use the same colour as the document background.)

N.b. this variable only applies for DocuSign signatures (where signatory provider is DocuSign). Learn more about DocuSign signatures here.


Exercise variables

1. General exercise variables

Variable

Example

Description

For reverse vesting

{amount} or {exercised}

10,000

Amount of grants being exercised

{date}

1 Oct 2022

Date of the exercise

{sharePrice}

3.1415926535

Strike/exercise price

{investment}

17'671.46

Amount payable by the stakeholder to exercise the grants = strike price * exercised amount

{class}

Common

Share class issued from the exercising transaction

{notes}

Exercise transaction's internal note

{shareCapital}

56.25

= number of shares issued * nominal value per share

2. Variables relating to the original grant, that is being exercised

Variable

Example

Description

{grant.amount} or {grant.granted}

10,000

Total original grant amount

{grant.strikePrice}

3.1415926535

Grant's strike/exercise price

{grant.investment}

20,000.00

Original grant investment amount (= purchase price * granted amount)

{grant.date}

12 Jul 2020

Original grant date

{grant.expiryDate}

12 Jul 2025

{grant.notes}

Original grant transaction's internal notes

{grant.dilutedShareCapital}

100.00

Original grant's diluted share capital (= number of grants granted * nominal value per grant)

{grant.vesting.startDate}

1 Jul 2020

{grant.vesting.duration}

48

{grant.vesting.interval}

1

{grant.vesting.cliff}

12



Share issuance variables

Variable

Example

Description

For reverse vesting

{amount} or {issued}

1,500

Amount of shares being issued

{sharePrice}

1.55

Shares' issue price

{investment}

2,325.00

= sharePrice * amount

{class}

Common

Share class issued

{date}

3 Feb 2021

Date of the share issuance

{notes}

Share issuance transaction's internal note

{shareCapital}

15

= number of shares issued * nominal value per share

{stakeholderCertificateId}

PA-123

Certificate Id for increase transactions (e.g. increase shares, exercise and a stock grant from authorized capital)

{fromStakeholderCertificateId}

PA-456

Certificate Id for transfer transactions (e.g. transfer, exercise and a stock grant from reserved shares)


Employment-related stakeholder fields that can be used as variables

Variable

{stakeholder.employment.employmentStatus}

{stakeholder.employment.employmentType}

{stakeholder.employment.jobTitle}

{stakeholder.employment.manager}

{stakeholder.employment.payCurrency}

{stakeholder.employment.payPeriod}

{stakeholder.employment.payRate}

{stakeholder.employment.startDate}

{stakeholder.employment.team}

{stakeholder.employment.terminationDate}

{stakeholder.employment.workCity}

{stakeholder.employment.workCountry}


Custom variables

Would you like to have other customizable information in the document, and the variable is unavailable for replacement on Ledgy in the list above? Below you may find two alternatives to insert further custom information in your templates.

Transaction's notes

Ledgy has all the usual variables needed for document templates, but sometimes there could be a small difference between some companies to others. For such cases, there is a workaround:

An existing variable is {notes}, and it retrieves the information present in the Internal note section of the transaction on Ledgy. If you have a variable that you would like to use on the document template, but that variable is not available within Ledgy's standard variables, you can input the value of the variable in the transaction's Internal Notes, and use the variable {notes} to retrieve it in the document. For example, if you would like to input the amount of money paid when exercising a particular transaction, you can write that number in the transaction's Internal Note and use the variable {notes} in the document where you would like the variable to be replaced.


Custom stakeholder variables

Additionally, it is also possible to use the Stakeholder custom fields as variables in document templates.

Follow the structure below to enter the information in your template accurately:

General structure: {stakeholder.X}

(where X is the name of the custom stakeholder field)

Example of custom stakeholder fields:

  • Custom stakeholder variables can be used as variables e.g

    • {stakeholder.Number of grants}


Custom transaction variables

You can also use Transaction custom fields as variables in your document templates.

Follow the structure below to enter the information in your template accurately:

General structure: {customField.X}

(where X is the name of the custom transaction field)

Example for the Board Approval Status: {customField.Board Approval Status} ⇒ Result: Pending


Pro-tips

Is your variable not working? Ledgy will automatically fill in with “undefined” if the variable cannot be found.

  • Ensure that the information to replace the variable is on Ledgy: if you use the variable {stakeholder.address.city} but you have not input the stakeholder’s city information on Ledgy, it will show up as “undefined”

  • Ensure the variable is written exactly as stated above: if you have written {stakeholder.adress.city} (with a missing d), it will show up as “undefined”

  • At the transaction level (any issuance, transfer, or convertible loan), we have added an automatic validation to help you along when a template document is uploaded. For example, if {vesting.cliff} is in use within the document but is not yet defined, Ledgy will identify this and prompt you to input the information.

Note: The document size should not exceed 32 MB.


Example

Let’s put the following text in a Word document for an option grant template:

Berlin, {today}

Dear {stakeholder.name},

We hereby grant you the following number of Virtual Options according to the terms and conditions contained in the Agreement and in this Grant:

Number of Options: {amount}
Grant Date: {date}
Exercise Price: {currency} {strikePrice}
Vesting: {vesting.duration} years, {vesting.cliff} months cliff, vests every {vesting.interval} months

Sincerely yours,

Gwynne Sheetwell, Tom Baker

The resulting PDF will contain the following:

Berlin, 18 Mar 2020

Dear Elon Must,

We hereby grant you the following number of Virtual Options according to the terms and conditions contained in the Agreement and in this Grant:

Number of Options: 10,000
Grant Date: 14 Mar 2020
Exercise Price: EUR 3.1415926535
Vesting: 4 years, 6 months cliff, vests every 6 months

Sincerely yours,

Gwynne Sheetwell, Tom Baker

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