Understanding Templates
As you configure Pulley and begin issuing equity, you'll encounter templates at almost every step. Option grants, shares, SAFEs, and RSAs all require signed legal documents, and templates are how Pulley knows what those documents should look like and what data to put in them.
Understanding what templates are, how they work conceptually, and when the different template types apply is important groundwork before you start formatting documents or creating your first template bundle.
What is a template?
A template is a .docx file that you upload to Pulley with special template fields inserted where you want Pulley to fill in grant-specific data. When you issue equity, Pulley reads those fields, pulls the corresponding values from the grant record and stakeholder profile, and generates a completed document ready for e-signature.
A template field looks like this: {{stakeholder_name}}. When Pulley generates a document, that placeholder is replaced with the actual stakeholder's name. Fields can pull in share quantities, exercise prices, grant dates, vesting schedules, and more.
Templates are not generated by Pulley. You bring your own legal documents, formatted by your counsel, and configure them to work with Pulley's data. Pulley handles the data population and document generation; your legal language stays exactly as your counsel wrote it.
→ Ready to set one up? See Create Templates (How-To 3.6, coming soon) for step-by-step instructions, or Tutorial: Creating Your First Template (Tutorial 2.5, coming soon) for a guided first-time walkthrough.
Why templates matter
Templates serve three functions in equity administration:
- Legal consistency: Every stakeholder receiving the same security type gets a document generated from the same approved legal language. There's no risk of an older version of an agreement circulating or a field being manually typed incorrectly.
- Automation: Once a template is configured, Pulley populates it automatically at issuance. You don't fill in names, quantities, or dates by hand. The template fields pull that data directly from the grant record.
- E-signature readiness: Pulley generates fully executed documents with signature fields included. When the document is released, both the company signatory and the stakeholder receive it ready to sign. No separate document assembly or signature workflow is needed.
How template fields work
Template fields are the bridge between your legal document and Pulley's data. Each field is a placeholder wrapped in double curly braces: {{field_name}}.
The rendering process
When you issue a security, Pulley executes a rendering process that transforms your template into a completed document. First, it identifies which template bundle is assigned to that security type and opens the template file. It then scans the document for every {{field_name}} placeholder, replacing each one with the corresponding value from the grant record or stakeholder profile. Finally, it generates the completed document and queues it for e-signature.
The font styling applied to the placeholder in your .docx file carries through to the generated document. If you want a stakeholder signature to render in a cursive font, you apply that font to the {{stakeholder_signature}} field in your template and it will appear that way in the final document.
A full list of available template fields, including which fields are valid for each security type, is available at pulley.com/template-fields.
Template field types
Pulley supports two categories of template fields: standard fields and custom fields.
Standard fields are predefined by Pulley and map directly to data that already exists in your account. Examples include {{stakeholder_name}}, {{quantity}}, {{exercise_price}}, and {{grant_date}}. These are ready to use immediately and cover the vast majority of data points in standard equity documents.
Custom fields allow you to capture data points that are unique to your company's equity program and aren't part of Pulley's standard data model. The format is {{custom_field_name}}, where the portion after custom_field_ is a name you define.
Most equity documents can be fully populated using standard fields alone. Custom fields become necessary when your equity program includes non-standard terms specific to your industry or business model, when you need to capture company-specific conditions that Pulley doesn't track by default, or when your legal counsel has drafted language that references data points outside Pulley's core data model. For example, a gaming company might need {{custom_field_token_lockup_period}}, or a company with performance-based vesting might need {{custom_field_performance_milestone}}.
When issuing the security in form view, you enter each custom field value in the custom fields section at the bottom of the issuance form. Pulley maps your input to the matching field code and populates it in the document.
A few things to know about custom fields:
- The custom field variable must begin with
custom_field_and contain no special characters - The field code must use underscores with no spaces inside the curly braces (
{{custom_field_lockup_period}}, not{{ custom field lockup period }}) - Custom fields only appear in the issuance form when you're in form view, not spreadsheet view
- Keeping a list of the custom field names included in a template is useful for anyone issuing securities later, since they'll need to know which fields to populate
Two template approaches: in-place terms and prepend terms
Pulley supports two different approaches to how template data is incorporated into the final document. Which one is right for your company depends on your legal setup and how much control you need over document formatting.
In-place terms (recommended)
In-place terms means inserting Pulley's field codes directly into your legal document in the exact positions where you want the data to appear. The generated document looks seamless: Pulley's data appears inline with your legal language, as if it had always been there.
This is the recommended approach. It produces a professional result, gives you precise control over data placement, and integrates naturally with documents drafted by legal counsel.
The trade-off is that it requires formatting work upfront. Someone needs to open the document, locate every instance of data that should be dynamic, and replace that text with the appropriate field code. If you're working with outside counsel, this step is usually completed during document preparation.
Use in-place terms when:
- You have control over your legal document formatting (for example, when working with counsel who can edit the source file)
- You need professional-looking documents with seamless data integration
- Your legal counsel requires specific data placement within contract language
- You're setting up templates for long-term use
Prepend terms (legacy)
Prepend terms is an alternative approach where you upload the legal document without any field codes. Pulley generates a separate cover page containing all the grant details and signature fields, then attaches it to the front of your document.
This approach is faster to set up because it requires no edits to the document itself. The trade-off is that grant data appears on a separate page rather than integrated with the legal language. Some legal counsel find this format acceptable; others require in-place data for specific document types.
Use prepend terms when:
- You need to start issuing equity immediately without formatting expertise
- Your legal documents are finalized and cannot be edited
- You're comfortable with grant details appearing on a separate cover page
- You're using Pulley temporarily while transitioning to a permanent setup
→ For instructions on formatting a document using either approach, see Create Templates (How-To 3.6, coming soon).
Template bundles
A template bundle is a collection of related documents grouped together for a specific security type. When you issue a security in Pulley, you select a template bundle, and Pulley generates all the documents in that bundle at once.
Bundles exist because a single equity issuance often requires more than one document. An option grant might require an option agreement, a copy of the equity plan, and a notice of grant. An RSA issuance might require a restricted stock agreement, a stock certificate, and an assignment document. A bundle keeps these together so nothing is accidentally omitted.
You can create multiple bundles for the same security type. For example, you might have one option bundle for US-based employees and another for international employees, or one for standard grants and one for an accelerated vesting schedule. During issuance, you choose which bundle applies to the current grant.
→ To see how bundles are created and configured, see Tutorial: Creating Your First Template (Tutorial 2.5, coming soon).
Where templates live in Pulley
Most templates are managed under Company → Templates, organized by security type (Options, RSAs, shares, etc.). This is where you create and manage the bundles used during equity issuance.
Two template types have different locations, and placing them in the wrong location is a common source of errors.
Notice of exercise templates must be uploaded to Hire and Retain → Exercise Requests → Edit Settings, not to the main templates page. This is because notices of exercise are triggered by a stakeholder submitting an exercise request, which is a separate workflow from admin-initiated grant issuance. If you upload a notice of exercise to the standard templates area, it will not appear in the exercise request workflow. See Configure Exercise Requests (How-To 7.1) for the full setup.
Employment contract templates are uploaded under the Employment Contracts section on the templates page. These use candidate-specific field codes (such as {{candidate_name}} and {{candidate_signature}}) rather than the stakeholder fields used in equity documents. They're used in the offer letter tool, not in the equity issuance workflow.
What's next
- Set up your first template: Create Templates (How-To 3.6, coming soon)
- Walk through template creation from start to finish: Tutorial: Creating Your First Template (Tutorial 2.5, coming soon)
- Configure the exercise request workflow: Configure Exercise Requests (How-To 7.1)
- Issue equity using your templates: Grant Options to an Employee (How-To 5.7, coming soon)