You can create agreements from the agreements page, accessible via the left menu under “Incentive agreements.”
The page is divided into programs.
To create an agreement, choose the program you want to use and click the “+” button.
This opens a guided sequence for adding new agreements.
There are two types of programs, and therefore two types of agreements:
Restricted Stock Awards (RSA)
It is important to note that RSA agreements are share-based and give the receiver actual ownership once the shares are paid and the agreement is signed.
Stock Options
Stock options are a right, but not an obligation, to buy shares at a later stage at predetermined terms.
The tax implications differ between the two approaches. If you need help with designing a program that fits your needs and company stage, contact us, and we can help.
Both follow a similar process, but each type has a few details unique to that instrument.
Creating an RSA agreement
When you start a new RSA agreement, you will first see the program template.
This template contains the standard rules for the program, and you can use it as is or adjust it for each agreement.
You can then:
Add a new agreement, or
Add an existing agreement (same process, just used for previously drafted agreements)
Clicking either option opens a side panel.
Choose the receiver
Select who will receive the RSA:
Pick an existing stakeholder, or
Create a new stakeholder directly in the panel
Define the share details
Enter the core elements of the agreement:
Number of shares
How many shares the recipient will receive.
Purchase price
This comes from the program template, but you can change it for this specific agreement if needed.
Signing manager
Select who will sign the agreement on behalf of the company.
Essential terms
Write any important terms you want highlighted in the agreement.
Review the program details
You will see a summary of the program’s settings, so you can confirm that everything matches what you expect.
Vesting details
The vesting method comes from the program, but you can choose something else for this specific agreement.
Time-based
Milestones-based
A mix of both
If you choose milestones or a mix, you must specify how many shares belong to each milestone or vesting period.
You must also choose the vesting start date.
For more information about vesting, see the detailed article here: Understanding vesting types
Approval information
Enter:
Board approval date (or validate the date already set)
Grant date
Add documents & invite receiver
Upload supporting documents
Optionally send an email invite so the receiver can access the agreement in their portfolio
Click “Add agreement” when you're ready.
Sequence summary
You return to the creation sequence. The agreement you just added will appear as a draft.
You can add more agreements if needed.
When ready, click the arrow at the bottom right to continue.
Final Summary & grant
You will see all the agreements you have created for this program.
You can:
Add more documents
Save as draft → the agreement appears on the program page as a draft
Grant agreement → the agreement becomes active
Creating a stock options agreement
The process is very similar to RSA, with a few additional details specific to stock options.
Choose the receiver
Select an existing stakeholder or create a new one.
Option details
You need to set:
Number of stock options
How many options are granted.
Exercise price
Validate the price from the program or change it if needed.
Board approval & grant date
Validate or update these dates.
Exercise period
Review and accept the exercise window defined in the program.
Essential terms
Click “Show advanced options” to:
Make the expiry date relative to the vesting date if needed
Add any important terms for the agreement
Program details
Review the program settings to ensure everything is correct.
Vesting details
Same flow as RSAs, the vesting method comes from the program, but you can choose something else for this specific agreement. (Read more about vesting types here)
Time-based
Milestones-based
Mix of both
If milestones are used, you must detail how many shares relate to each milestone.
Set the vesting start date if time-based vesting is chosen.
Post-termination clause
Confirm or edit the termination rules from the program, defining what happens to the options if the employee leaves the company.
Documents & signing
For stock options, the system can also automatically generate a legally compliant agreement based on your settings.
You may also:
Upload your own documents
Send an email invitation
Require signatures from both the receiver and the signing manager
Click “Add agreement” to complete the step.
Next Steps: Draft or Grant
Same as for RSA agreements:
Agreements appear as drafts until you click “Grant agreement”
Once granted, the agreement becomes active
If signatures are required, the process starts automatically
Signing Process (For Both RSA & Stock Options)
If you require signatures:
📩 Manager signing
The signing manager will receive an email with a button “View agreements”.
They must:
Review the documents
Check off confirmations
Sign in the signature box
Click “Accept and send agreements”
📩 Receiver signing
Once the manager signs, the receiver gets an email.
They repeat the same process.
The status of the agreement updates automatically on the Agreements page so you can follow the progress.
Conclusion
Creating agreements in Unlisted is guided, flexible, and easy to manage.
Everything is centralized within programs, making your incentive management structured and efficient.