You create programs directly from the “Pools & Programs” page, inside the pool of your choice.
Starting the program creation flow
Go to the “Pools & Programs” page and find the pool you want to attach a program to.
Under this pool, click “Add program.”
This opens a multi-step sequence that will guide you through the program creation process.
Program name and description
Start by giving your program:
A name
A description
These help identify the purpose of the program (e.g., “Employee Stock Option Program 2024” or “Advisor RSA Program”).
Click the arrow when you’re done.
Select Pool and Program Type
Next, choose the pool you want the program to be attached to.
By default, the pool you started from is selected, but you can change it if needed.
Then choose the program type:
Restricted Stock Awards (RSA)
Stock Options
The rest of the process depends on this choice.
Below, you will find separate step-by-step guides for each program type.
Creating an RSA program
Define program details
Select Restricted Stock Awards under program type, then enter:
Number of shares allocated to the program
Purchase price per share
You can click “Show advanced options” to highlight key legal or financial terms of the agreement.
Click the arrow to continue.
Choose the vesting method
Choose how RSA shares will vest:
Time-based vesting
Milestone-based vesting
Combined vesting
(Refer to the detailed vesting article for full explanations of each method.)
Fill out the required fields depending on your choice (dates, milestones, percentages, schedules, etc.) and click the arrow to proceed.
Review & Finalize
You will arrive on a summary page showing:
All program details
A visual of the vesting schedule (timeline or milestone breakdown)
The number of shares
Purchase price
The pool selected
Then complete the final required fields:
Upload documents (or add them later)
Date of approval
Signing manager
Finally:
Save as draft → to finish later
Create the program → to finalize immediately
Once created, the program appears inside the pool card.
Creating a stock options program
Define program details
Select Stock Options under program type.
Then enter:
Number of options allocated to the program
Exercise price
You may set a fixed price, or
Match the company’s share price at the time of grant
Expiry date of the stock options
Under “Show advanced options”, you can:
Make the expiry date relative to the vesting date
Highlight essential terms from the agreement
Click the arrow when ready.
Choose the Vesting Method
Choose how options will vest:
Time-based vesting
Milestone-based vesting
Combined vesting
(Refer to the detailed vesting method article for guidance.)
Complete the vesting details and choose whether you want to allow accelerated vesting upon a liquidation event.
Click the arrow to continue.
Set post-termination exercise clause
A post-termination exercise clause determines whether, and for how long, a stakeholder can exercise their options after leaving the company.
Choose:
Exclude the clause → no post-termination exercise allowed
Include the clause → then complete each scenario:
Retirement
Disability
Termination with cause
Involuntary termination
Voluntary termination
Passing away
Click the arrow when done.
Review & finalize
On the final step, you will see a summary of:
Vesting method and schedule
Option amount
Exercise price
Expiry rules
Post-termination clause
Pool selected
Then add:
Documents
Date of approval
Signing manager
Lastly, you can:
Save as draft
Create the program
Drafts will appear in the pool card with a “Draft” label until finalized.
Program Creation Complete
Once created, your program will appear inside the pool card with:
Its name
Description
Share or option allocation
Vesting details
Attached agreements (once granted)
From there, you can begin granting agreements to stakeholders.
Conclusion
Creating a program in Unlisted is a guided and structured process designed to help you safely and accurately establish the rules for your equity incentives.
Whether you are setting up a Restricted Stock Award program or a Stock Option program, you define everything, from share amounts and vesting schedules to agreement terms and approval details, through a clear step-by-step flow.