Vesting File         
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The Vesting File (files with extension vt.csv) contains information related to the vesting schedule of option grants. The vesting data is used to calculate the amortization of each grant’s option expense.

The Option Value, Vest Date, and Vest Shares represent the vesting and value information for each vesting tranche. Multiple sets of vesting information can be put on the same line by repeating the set of information one after the other in the same row (see example below). 

Users should always upload the original vesting schedule for a specific grant, and then incorporate any modifications to that vesting schedule separately and through the Acceleration and Retirement-Eligibility and/or Grant Modification and Grant Modified Vesting files.

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 and Vest Date.

If there is more than one record in the Vesting file with the same Grant ID and Vest Date, 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 vesting record (that is a vesting record that contains only the Grant ID) is necessary to delete all vesting rows associated to a specific grant.


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

Sample Field
Description
1
Grant ID
P
Alpha-Numeric (40)
2001EAH
Specifies the grant id associated with the vesting information.
The grant data that this record refers to should have been already uploaded into the system.
2
Fair Value
 
Numeric (14.4)
4.252
Per-share Fair Value assigned to the Grant as the result of a valuation process as loaded or updated. Overrides Grant level Fair Value for non-MPA Awards.
 
3
Vesting Date
 
P
Date
02/11/2011
This date constitutes the end of the period over which the employee renders service (service end date), for the Tranche.

This date is typically used as the expense amortization end date unless another event causes an earlier end date (e.g. Vesting Acceleration, Cancellation or a Retirement Eligibility Date, or Condition Achieved Date).
4
Vesting Shares
P
Numeric (14.4)
 
2000
The number of shares that vest at each vest date.
Cannot be negative or zero
No quotation marks allowed
Decimal positions are not required

For MPA Awards, this amount represents the quantity of Instruments Granted, per Tranche, without the affect of the Instruments Multiplier
 
 
 
Note:
The following fields (5 to 7) are included for MPA Awards and are optional.  A place holder for an empty field is not required, providing backward compatibility with the prior format.  Both the 4 field format and 7 field format records are acceptable in this file at the same time.
 
5
Tranche ID
M
Alpha-Numeric(20)
.
 
1
Unique identifier for each tranche underlying a Grant
6
Condition Description
 
Alpha-Numeric (40)
30% Stock Price Increase
Allows users to enter a free-form text description of the condition(s) associated with the award, e.g. TSR, EPS growth of x%, revenues of x by year-3, etc.
7
Vest Start Date
 
 
Date
01/01/2010
When supplied, this date constitutes the beginning of the period over which the employee renders service or the performance period begin date, for the MPA tranche.
 



Options Vesting Data File Example

There are two ways to format the data in a Vesting File when there are multiple vesting records for a single grant:

1.   Provide the data on separate lines, creating a line for each vesting record for that grant.

        The data would be loaded in the following sequence:
GrantID, OptionValue, VestDate, VestShares, TrancheID, ConditionDescription, VestStartDate
<GrantID, OptionValue, VestDate, VestShares, TrancheID, ConditionDescription, VestStartDate>
....


An example of valid lines in a Vesting Vile are as follows (note the extra comma used to identify the missing optional Option Value field in the third example):         
Non-MPA Award
Grant1, 3.5, 1/1/2003, 730
Grant1, 2, 4/1/2003, 500
Grant2, , 1/1/2004, 730

MPA Awards
Grant1, 3.5, 1/1/2003, 730, 1, 5% EPS Growth, 1/1/2002
Grant1, 3, 4/1/2004, 730, 2, 5% EPS Growth, 1/1/2003
 


2.   Put multiple sets of vesting information on the same line by repeating the data fields other than the GrantID.

The data would be loaded in the following sequence:
GrantID, OptionValue, VestDate, VestShares, <OptionValue, VestDate, VestShares>, ....


Examples of valid lines in a vesting file are as follows (note the extra comma used to identify the missing optional Option Value field in the second example):
              Grant1, 3.5, 1/1/2003, 730, 2, 4/1/2003, 500
       “Grant 2”, , 1/1/2004, 730