Active: this is the status applied to a normal option grant on Orchestra. Automatic vesting schedules process. The options show in the 'Total options granted' pool figure, and their state (unvested, vested or exercised) will be reflected in the respective pool total. The option holder can login to view their options on Orchestra (after you have invited them to create their Orchestra login). Vesting notification emails are sent to the option holder.
Inactive: this is the status applied to a future-dated option grant. Automatic vesting schedules process. The options show in the 'Total options granted' pool figure. The option holder can login to view their options on Orchestra. The options automatically switch from Inactive to Active when the grant start date is reached.
Lapsed: this status is applied if an option holder has departed your company and you have lapsed their options. Vesting schedules do not process. Unvested options are returned to the pool for reallocation. Vested options are held by the option holder until they are expired or exercised. The option holder can view their options until they are expired.
Exercised: this status is applied if an option holder has exercised their options. The investor can view their shareholding by logging into Orchestra.
Expired: when the 'Option expiry date' is reached the option status changes to expired. Automatic vesting schedules do not process. The unvested and vested options are returned to the pool for reallocation.
An option grant may have a mix of exercised and expired options. The exercised options are shown in the pool totals for 'Total options granted' and 'Exercised options'. The unvested and vested options have been returned to the pool for reallocation and are shown in the figure for 'Total options available'.
If there are no exercised options then the option holder cannot view their options by logging into Orchestra. If there are exercised options then the investor can view their shareholding by logging into Orchestra.