Award cancellation process

Eligible awards

You can cancel awards that are in the Vesting or Completed state. This includes fully executed awards (and fully signed awards, if a signing process is in place).

When to use this process

Consider cancelling an award if:

• You realize there was a mistake after the award was finalized.
• You need to completely cancel an award.

Important: Since this process changes an already finalized award, you must obtain consent from all parties involved, especially if the documents have been signed.

How to start the cancellation process

1. Navigate to the Award Details: Go to the award you want to cancel.
2. Select "Cancel Award": In the "…" menu at the top, choose the "Cancel Award" option.
3. Confirm the dialog: Confirm your choice, and the cancellation process will begin.

What to expect during the process

Unlike other processes, the cancellation details are housed directly within the award detail itself, not in a separate location. The award's status will change to Pending, making it easier to track the actions required.

Steps to complete the cancellation

Once the cancellation draft is created, the next steps follow the usual process: Publish, Approve, Signature (depending on your configuration).

What happens after cancellation

Once the award cancellation process is completed, all assets are returned to the pool from the date of cancellation. This means the award is not deleted; instead, it reflects that the participant held ownership of the assets for a specific period before losing them based on the new agreement.