This feature is available on the Pro plan. If you’re on Starter, you can add the Options and derivatives add-on to get access. Read more about Starter pricing. To access related features such as a fully diluted cap table, you’ll need the Pro plan. Learn more about Pro.
About Options and derivatives
With Options and derivatives in NVR, you can manage your company’s various incentive programs and conditional instruments in one place. Here, you can create, administer, and track programs such as warrants, convertibles, or QESO, and ensure that the share ledger is automatically updated as changes occur. This makes the management of option programs consistent, accurate, and easy to follow – both internally and for external stakeholders such as investors and auditors. You can:
Manage warrants, convertibles, QESO, and other conditional instruments.
Set up time-based (linear) vesting with cliff and custom intervals, and choose whether vesting occurs at the beginning or end of each period (currently available on request – contact us if you’d like to activate it).
Configure program subscribers, duration, prices, and terms.
Administer participants and display programs directly in the custody account.
In this guide, we’ll walk you through how to register a program step by step.
Register an options program
Go to Options and derivatives in the left-hand menu. To create a new incentive program, click New program.
1. Choose asset type
Start by selecting the asset type, i.e. the kind of incentive the program is based on. You can choose from:
Bond
Convertible
QESO
Stock option
Warrant
The setup steps may differ slightly depending on which asset type you select, as each type includes different features and settings. If the asset type is QESO, Stock option, or Warrant, you can choose to enable vesting for the program. This allows you to define when and how the options become available to participants (currently available on request – contact us if you’d like to activate the feature.).
2. Choose name and currency
Next, set a name for the program. For example, employee options running from 2025 to 2027 could be named “QESO 2025/27.” You can also select the currency that will apply to the program.
3. Set the duration
Each incentive program must have a defined duration. This determines the earliest date the company may issue options (often linked to a shareholder or board decision), and the latest date by which an option holder can exercise their options.
4. Define issuance terms
Depending on the asset type, you’ll have different options for issuance, as well as Terms and utilisation (next step).
The number of derivatives and price per derivative specify how many options are included in the program and the price per option (or other derivative). For QESO, you only specify the number of derivatives, not a price per derivative.
5. Define terms and utilisation
For QESO and stock options, you must specify the purchase right, i.e. how many shares each option entitles the holder to buy in the future.
Examples:
1 option = 1 share → each option can be converted into one share.
1 option = 2 shares → each option gives the right to subscribe for two shares.
The purchase right defines the ratio between options and shares and affects how many shares can be issued when the program is exercised.
The strike price is then the price per share that the subscriber pays when exercising the option.
6. Upload agreements
If you wish, you can attach program-related agreements. Uploaded files can be removed or updated later, even after the program has been created.
Currently, agreements can only be uploaded at the program level, and these are only visible to administrators and observers within the company. We are working on extended support that will make it possible to share agreements with subscribers, both at the program and individual levels.
Do you have any ideas or requests about how this could make your work easier? Please feel free to contact us with your feedback!
7. Enable vesting (coming soon)
For QESO, stock options, and warrants, you can choose to enable vesting. (Currently available on request — contact us if you’d like to activate the feature.)
8. Share the program with subscribers
Before saving, you can choose to make the program visible in the custody account.
This allows participants to log in to NVR and track their options, including any vesting schedule if applicable. Learn more about the custody account here.
9. Done!
Click Register program when you’re ready to save.
Once the program is created, you’ll get an overview page where you can make changes as needed. A good next step is to add subscribers to the program. Learn more how to do that here.
