M&A equity checklist for your stock plan.
Deal decisions happen at board level, and plan administrators can end up rebuilding the program from the ground up. Work through five areas, from validating your historical data to keeping participants informed.
- 6
- Pages
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- Areas
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- Checks
From the global equity experts at Allshares, working with 1,500+ companies in 110+ countries.
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What's inside
Six pages, five areas.
The checklist moves from the records the deal is built on to the people who hold the awards. A one-page quick reference then sets out what to cover in the first 30 days.
Areas 1 to 3
Data, awards, and systems
Reconcile outstanding awards against plan documents and board minutes, and clear out duplicate records. Then inventory each company's award types, confirm with the board and legal team how outstanding awards are treated, and choose how your equity platforms come together.
- Areas
- 3
- Checks
- 18
Pages 2 and 3
Areas 4 and 5
Compliance, tax, and participants
Confirm reporting for your public or private status before and after close, review 409A impacts and ISO thresholds, and keep an audit trail for future filings. Then keep participants informed, from the first acknowledgment to the final word on award treatment.
- Areas
- 2
- Checks
- 15
- Steps for the first 30 days
- 5
Pages 4 and 5
From the checklist
Your first 30 days.
The checklist closes with this quick reference. Tap each step your team has covered.
0of 5 covered
Tap a step to count it. Your answers stay on this page.
Who it's for
Written for the stock plan team.
It's for stock plan administrators and the HR, legal, payroll, and accounting teams who keep an equity program running through a merger or acquisition. Use it before close, through the transition, and after.
If you hold equity in a company that's being acquired, take questions about your own awards to your plan administrator or a tax adviser.
Want senior specialists on the deal with you? See our transactions support
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Common questions
M&A equity questions.
What happens to stock options and RSUs in an acquisition?
It depends on the deal and the plan documents. The checklist has you confirm with the board and legal team whether outstanding awards are assumed into the acquirer's plan, substituted, accelerated, or cashed out or cancelled. It also has you review your plan's language on awards in a liquidity event. For the wider picture, read our article. Top equity challenges during M&A
What should an M&A equity checklist cover?
This one covers five areas: data integrity and historical records, equity structure and award treatment, equity administration software and systems, compliance and tax, and participant communication. A quick reference for the first 30 days closes it.
How should we communicate with participants during a deal?
Acknowledge the deal as soon as it's announced, even without final details. Then set up a dedicated inbox or channel, publish an FAQ, and keep a regular cadence even when there's no update. If a blackout period starts, explain what it means for trading.
Is the checklist legal or tax advice?
No. It's a checklist to work through with your team. Rules vary by company status and jurisdiction, so take legal, tax, and securities questions to your counsel or tax adviser.
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