Exercise File
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The Exercise File (files with extension ex.csv) contains information related to the exercise of option grants.  The Exercise File is the basis for many calculations related to model inputs. The Barrier Model examines the exercise history in order to derive the sub-optimal exercise factor and expected term of the options.

Insertions and Modifications

Upload file can contain both new records, and updates to existing records.
A row is uniquely identified by a combination of the Grant ID, Exercise Date and Exercise Date FMV.

If there is more than one record in the Exercise file with the same Grant ID, Exercise Date, and Exercise Date FMV, the system will assume that the last record is supposed to update the previous record(s).  The previous record(s) will be lost and no validation error will be reported.



Deletions
To delete a record, you can add a record in an acceptable .CSV file format that contains only the Grant ID. Deletion records can be in the same file as insertion and modification records.  Note: only one delete exercise record (that is an exercise record that contains only the Grant ID) is necessary to delete all exercise rows associated to a specific grant.

When an exercise row is deleted, any corresponding Disqualifying Disposition rows are also deleted.

File Format
#
Field Name
P =Required, M = required MPA
Field Type

Sample Field
Description
1
Grant ID
P
Alpha-Numeric (40)
2001EAH
This specifies the Grant ID associated with the exercise information.
2
Exercise Date
P
Date
06/30/2010
The date the shares were exercised.
 
3
Exercise Date FMV
P
Numeric (14.4)
40.25
The fair market value on the date the shares were exercised.
No quotation marks allowed.
Decimal positions are not required
4
Shares Exercised
P
Numeric (14.4)
250
The number of shares exercised.
No quotation marks allowed
Decimal positions are not required
5
Exercise Type
 
 
Alpha-Numeric (40)
STOCK, CASH or STOCKorCASH
This specifies the ways that the Grant can be settled which is for Cash, Stock or Cash and Stock.
Settlement Type cannot be Stock for Grant level Cash Settlement Type
Settlement  Type Cannot be Cash for Grant level Stock Settlement Type

Settlement Type must be specified for a CashOrStock Grant Level Settlement Type.

Settlement must be Stock, Cash or CashOrStock  or can be blank to default to Stock
 
 
 
 
Note:
 
The following field is included for MPA Awards and for Settlement Type CashorStock, and is optional. A place holder for an empty field is not required, providing backward compatibility with the prior format. Both the 5 field format and 6 field format records are acceptable in this file at the same time.
6
Tranche ID
 
Alpha-Numeric(20)
01
Identifies the specific tranche from which the Exercise occurred.
 
7
Cash Amount
 
Numeric (14,4)
23000.50
The Cash amount for a Cash Exercise.
8
Cash Units
 
Numeric (14,4)
2800
This is the number of Vested Shares or Actual Shares that are expended by the Cash transaction.
9
Net market Shares
 
Numeric (14,4)
1452
This is the number of Shares that actually reach the market.

A null is allowed which indicates that the shares are as specified in the Shares Exercised field (this means no value is provided in the file).  If a zero is provided, then the Net Market Shares is zero.  The database will store a null, a zero or an actual number.
10
Change in Control Indicator
 
Boolean
Y
This specifies that the Exercise is related to a Change in Control occurrence for an RSA or RSU Award only.

For backward compatibility, this field is assumed to be No in all existing Exercise records.
11
Entry Date
 
Date
5/1/2009
This date constitutes the date upon which the record was entered into the database. This date is for record adds and does not change if the existing record is updated.


Examples

To properly load, fields in each row of the file must be in the following sequence:                     
 GrantID, ExerciseDate. ExerciseDateFMV, ExerciseShares, ExerciseType, TrancheID, CashAmount. CashUnits. NetMarketShares, ChangeInControlIndicator,EntryDate



An example of valid lines in an exercise file are as follows (note the missing optional Exercise Type field in the second example):
Non-MPA Award
Grant1, 1/1/2003, 3.90, 250, STOCK, 01, 23000.50, 2800, 2300, 1452, N,5/1/2003

MPA Award
 Grant2, 1/1/2004, 6.05, 250, STOCK, 3