### Overview

Value at Vest changes how Pave calculates your vested equity by using the actual share price on each vesting date, rather than applying today's price or a modeled price to all vested equity.

When enabled, the system calculates vested equity value by multiplying each vesting event's shares by the share price on that specific vest date (specifically the closing price of that day).

### How to Enable Value at Vest

**Prerequisites:**

* You must be an Admin with access to the Communicate settings tab

#### For Total Rewards:


1. Navigate to **Settings > Communicate > Compensation > Equity**
2. Under "Calculating vested equity", select **"Value at time of vest"**
3. Click **Save**

#### For Team View:


1. Navigate to **Team View > Settings > General > Equity**
2. Under "Calculating vested equity", select **"Value at time of vest"**
3. Click **Save**

*Note: "Time of vest" uses the share price at the end of the vesting day*

**Important:** This is a company-level setting that applies to all employees and managers. Everyone at your company will see vested equity calculated the same way.

### How Vested Equity is Calculated

There are two configurations that dictate how vested equity value is calculated:


1. Growth format: multiples / percentages or open editor
2. Calculating vested equity: modeled share price or value at vest

The following three examples break down how the math works in each scenario. Keep in mind this applies only for vested equity.

#### Multiples / percentages & modeled share price

If growth mode is set to percentages or multiples, vested equity shows two components: the value at vest (what shares were worth on their vest date) and growth (how those shares appreciated/depreciated by year end). This calculation rolls forward year over year, accumulating growth from prior years' vested shares alongside new vesting events.

**Set-up for this example:**

* Employee begins vesting in 2019
* Year-end share prices: 2019 = $10, 2020 = $15

**2019 calculation**

Two tranches vest in 2019:

* Tranche 1: 10 units at $8/share
* Tranche 2: 10 units at $9/share

Units vesting in that year (light green): (10 × $8) + (10 × $9) = **$170**

Growth from previously vested units (dark green): ((10 - 8) × 10) + ((10 - 9) × 10) = **$30**

Total vested equity value for 2019: $170 + $30 = **$200**

**2020 calculation**

Four new tranches vest in 2020:

* Tranche 1: 10 units at $12/share
* Tranche 2: 10 units at $11/share
* Tranche 3: 10 units at $18/share
* Tranche 4: 10 units at $15/share

Units vesting in that year (light green): (10 × $12) + (10 × $11) + (10 × $18) + (10 × $15) = **$560**

Growth on 2020 tranches to year-end price of $15:

* (15 - 12) × 10 = $30
* (15 - 11) × 10 = $40
* (18 - 15) × 10 = -$30
* (15 - 15) × 10 = $0

2020 vested units growth: **$40**

Growth on 2019 tranches (20 units, closed 2019 at $10, now at $15): (15 - 10) × 20 = **$100**

Growth from previously vested units (dark green): $40 + $100 = **$140**

Total vested equity value for 2020: $560 + $140 = **$700**

This process continues year over year. In the current year, all vested equity is valued at the modeled share price instead of a year-end close.

 ![](https://brainfish-storage-prod.s3-accelerate.amazonaws.com/uploads/5d0fcb84-27ba-49f5-8067-37490567096f/0d11efc7-e15e-4331-b424-4d6527a9491b/image.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAUPPN5IL33ICNF6NG%2F20260510%2Fus-east-2%2Fs3%2Faws4_request&X-Amz-Date=20260510T164806Z&X-Amz-Expires=3000&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEDUaCXVzLWVhc3QtMiJHMEUCIQCgvOm59yfuugw%2FGvlOGm6nEmF17YAm63VjkfRF%2FjS4AwIgCpzK2Upce06%2FA9RipeEBmz3hq1StKK%2Fp5NuZidc4sP8q5QUI%2Fv%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FARACGgwzMDgxMjU5NzUyODciDHd8ohoDB3IjUun%2B9Sq5BT6oGlupLmXGWYBFrQnuaOpZThN1Knnlyv%2F0cNDwvcB0M0CMBd1iDl%2Fg9zDnxcZ%2BIAN%2FyN6%2B8%2FNGH2SmxMUluz1G27oNDUOin%2FT9r7lLIx0PaAIw2kYr3agzQ%2FKAu3lnF93cvSGA2rteLPy2jGaGWu0p6znilyVCUnqj3RWlRJvsotxErJ8A0SVOlwfPReMTruKxQR8pCV%2FckJaaH2x4vmwx6T3OIAjd1GPrSxWEcjAgfJN7OWUjrxeuj9RxVj5j1dDUpU2r4F9w%2Fcquh3ucPTOJRUtmBbNnnNemFyew0nP8JI77yr2N0DBjh%2FpzeBGIIMthsZNxYBAkg0mPaWpBGYHc0PBWOlf3F03ZxeATYX1M1Jka7efRR2BevnM4uvWwzafBf2wo%2BNOmWhCFYKXvgn1kjgK%2F0%2BytioMdLGJu%2FSBn76KNhVqo0eGZlJgtqBW2MxpgWEjMpILhIoYZ6SlwM2oCH1iqdWyRZJNtjWwhsCLBp5q7d7FHACY6jlICHQqK7jaofwKAPZGTrPKTgFRKZPBaRBf%2FZ51k99M3prFvH13sbC2Rz7DUpEjlGzoWOa%2FBs%2Fc%2B9bNtW8A1W%2Bs7RNYHhXCZcmbp1Q5FcDivZn%2B85DKPJiXh90V9G54GVg9C4fHqfZWM3W9lg2uzYgu2uEoNJitK5T66uddlNDeIOwllMxrTF7QosQWzptOyIfew7Eg2WmRHsf2PoFDhVNoAf%2Fib6tYOznPsscHEDJaLTkGD63TdldiMeBXVrdXz%2FPZzaLZc6QCpZ%2FFFTzFL1oy%2Fbfd%2BIrrerTG3dcJeiWk9leQzTLqKURnPDUzwjRfCfrX2tGM13i9%2B9VlHEoB9%2FE5oE4CAOxLl29NSQzWhfT1YJKpOaSP%2F%2B70G2KvAKxaMGhzL8q82VyHy49m2LMifnLBOj24ePk9F3kCvuhxtL3Iw5YOC0AY6kAEqZvbO%2BgFa5%2B2Tr7e1KLXDLdZedXLIMXXsPuIe19J9rArRe3DJWvFrJXNAbYOc7CJkK7Q0%2F0i%2FqXT1IV6zITqDlQ6JIP0rCMKc5uq0sJDFBCR8tZhblza7w4zweGR3dtFPuoLuwyoG2irn9UVqI1IZiDuIW1inEAIiFQCJhzu5%2Bdc%2B9JvHAz%2BExadQnp0HSvk%3D&X-Amz-Signature=aa5a02ee5f7cd3e1bc3e518ec89891c94c319d90e10e805f760b4c4eb394327a&X-Amz-SignedHeaders=host&response-content-disposition=attachment " =851x344")

#### Open editor & modeled share price

If growth mode is set to open editor, both vested and unvested equity are valued at the modeled share price. There is no year-over-year growth calculation. The modeled share price is applied uniformly to all equity regardless of when it vested.

**Using the same example employee (modeled share price of $20):**

All 60 vested units × $20 = $1,200

This produces the same total value as the multiples/percentages scenario. The difference is purely how the value is presented: multiples/percentages shows the year-by-year journey of vest values and growth, while open editor applies the modeled share price directly without the intermediate breakdown.

 ![](https://brainfish-storage-prod.s3-accelerate.amazonaws.com/uploads/5d0fcb84-27ba-49f5-8067-37490567096f/c0533bbc-fd92-4e92-a036-8bdb815f68cc/image.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAUPPN5IL33ICNF6NG%2F20260510%2Fus-east-2%2Fs3%2Faws4_request&X-Amz-Date=20260510T164806Z&X-Amz-Expires=3000&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEDUaCXVzLWVhc3QtMiJHMEUCIQCgvOm59yfuugw%2FGvlOGm6nEmF17YAm63VjkfRF%2FjS4AwIgCpzK2Upce06%2FA9RipeEBmz3hq1StKK%2Fp5NuZidc4sP8q5QUI%2Fv%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FARACGgwzMDgxMjU5NzUyODciDHd8ohoDB3IjUun%2B9Sq5BT6oGlupLmXGWYBFrQnuaOpZThN1Knnlyv%2F0cNDwvcB0M0CMBd1iDl%2Fg9zDnxcZ%2BIAN%2FyN6%2B8%2FNGH2SmxMUluz1G27oNDUOin%2FT9r7lLIx0PaAIw2kYr3agzQ%2FKAu3lnF93cvSGA2rteLPy2jGaGWu0p6znilyVCUnqj3RWlRJvsotxErJ8A0SVOlwfPReMTruKxQR8pCV%2FckJaaH2x4vmwx6T3OIAjd1GPrSxWEcjAgfJN7OWUjrxeuj9RxVj5j1dDUpU2r4F9w%2Fcquh3ucPTOJRUtmBbNnnNemFyew0nP8JI77yr2N0DBjh%2FpzeBGIIMthsZNxYBAkg0mPaWpBGYHc0PBWOlf3F03ZxeATYX1M1Jka7efRR2BevnM4uvWwzafBf2wo%2BNOmWhCFYKXvgn1kjgK%2F0%2BytioMdLGJu%2FSBn76KNhVqo0eGZlJgtqBW2MxpgWEjMpILhIoYZ6SlwM2oCH1iqdWyRZJNtjWwhsCLBp5q7d7FHACY6jlICHQqK7jaofwKAPZGTrPKTgFRKZPBaRBf%2FZ51k99M3prFvH13sbC2Rz7DUpEjlGzoWOa%2FBs%2Fc%2B9bNtW8A1W%2Bs7RNYHhXCZcmbp1Q5FcDivZn%2B85DKPJiXh90V9G54GVg9C4fHqfZWM3W9lg2uzYgu2uEoNJitK5T66uddlNDeIOwllMxrTF7QosQWzptOyIfew7Eg2WmRHsf2PoFDhVNoAf%2Fib6tYOznPsscHEDJaLTkGD63TdldiMeBXVrdXz%2FPZzaLZc6QCpZ%2FFFTzFL1oy%2Fbfd%2BIrrerTG3dcJeiWk9leQzTLqKURnPDUzwjRfCfrX2tGM13i9%2B9VlHEoB9%2FE5oE4CAOxLl29NSQzWhfT1YJKpOaSP%2F%2B70G2KvAKxaMGhzL8q82VyHy49m2LMifnLBOj24ePk9F3kCvuhxtL3Iw5YOC0AY6kAEqZvbO%2BgFa5%2B2Tr7e1KLXDLdZedXLIMXXsPuIe19J9rArRe3DJWvFrJXNAbYOc7CJkK7Q0%2F0i%2FqXT1IV6zITqDlQ6JIP0rCMKc5uq0sJDFBCR8tZhblza7w4zweGR3dtFPuoLuwyoG2irn9UVqI1IZiDuIW1inEAIiFQCJhzu5%2Bdc%2B9JvHAz%2BExadQnp0HSvk%3D&X-Amz-Signature=55abd52f2708d33b155c6925a682bdc550315eda57118131d0af1e2e708ea227&X-Amz-SignedHeaders=host&response-content-disposition=attachment " =851x396")

#### Any growth format with value at vest

If "Calculating vested equity" is set to Value at Vest, vested equity is always valued at the closing share price on each vest date. No growth modeling or modeled share price is applied to vested equity. Unvested equity continues to be valued based on the modeled share price.

**Using the same example employee:**

Each tranche is locked to its vest-date price:

**2019**

* 2019 Tranche 1: 10 units × $8 = $80
* 2019 Tranche 2: 10 units × $9 = $90

Total vested equity value for 2019: **$170**

**2020**

* 2020 Tranche 1: 10 units × $12 = $120
* 2020 Tranche 2: 10 units × $11 = $110
* 2020 Tranche 3: 10 units × $18 = $180
* 2020 Tranche 4: 10 units × $15 = $150

Total vested equity value for 2020: **$560**

Unlike the previous two scenarios, this total will differ because vested equity is not updated to reflect a modeled share price. The value represents exactly what was delivered at each vest event.

 ![](https://brainfish-storage-prod.s3-accelerate.amazonaws.com/uploads/5d0fcb84-27ba-49f5-8067-37490567096f/af396cb2-6d28-4d1d-8e8a-4181527d998a/image.png?X-Amz-Algorithm=AWS4-HMAC-SHA256&X-Amz-Credential=ASIAUPPN5IL33ICNF6NG%2F20260510%2Fus-east-2%2Fs3%2Faws4_request&X-Amz-Date=20260510T164806Z&X-Amz-Expires=3000&X-Amz-Security-Token=IQoJb3JpZ2luX2VjEDUaCXVzLWVhc3QtMiJHMEUCIQCgvOm59yfuugw%2FGvlOGm6nEmF17YAm63VjkfRF%2FjS4AwIgCpzK2Upce06%2FA9RipeEBmz3hq1StKK%2Fp5NuZidc4sP8q5QUI%2Fv%2F%2F%2F%2F%2F%2F%2F%2F%2F%2FARACGgwzMDgxMjU5NzUyODciDHd8ohoDB3IjUun%2B9Sq5BT6oGlupLmXGWYBFrQnuaOpZThN1Knnlyv%2F0cNDwvcB0M0CMBd1iDl%2Fg9zDnxcZ%2BIAN%2FyN6%2B8%2FNGH2SmxMUluz1G27oNDUOin%2FT9r7lLIx0PaAIw2kYr3agzQ%2FKAu3lnF93cvSGA2rteLPy2jGaGWu0p6znilyVCUnqj3RWlRJvsotxErJ8A0SVOlwfPReMTruKxQR8pCV%2FckJaaH2x4vmwx6T3OIAjd1GPrSxWEcjAgfJN7OWUjrxeuj9RxVj5j1dDUpU2r4F9w%2Fcquh3ucPTOJRUtmBbNnnNemFyew0nP8JI77yr2N0DBjh%2FpzeBGIIMthsZNxYBAkg0mPaWpBGYHc0PBWOlf3F03ZxeATYX1M1Jka7efRR2BevnM4uvWwzafBf2wo%2BNOmWhCFYKXvgn1kjgK%2F0%2BytioMdLGJu%2FSBn76KNhVqo0eGZlJgtqBW2MxpgWEjMpILhIoYZ6SlwM2oCH1iqdWyRZJNtjWwhsCLBp5q7d7FHACY6jlICHQqK7jaofwKAPZGTrPKTgFRKZPBaRBf%2FZ51k99M3prFvH13sbC2Rz7DUpEjlGzoWOa%2FBs%2Fc%2B9bNtW8A1W%2Bs7RNYHhXCZcmbp1Q5FcDivZn%2B85DKPJiXh90V9G54GVg9C4fHqfZWM3W9lg2uzYgu2uEoNJitK5T66uddlNDeIOwllMxrTF7QosQWzptOyIfew7Eg2WmRHsf2PoFDhVNoAf%2Fib6tYOznPsscHEDJaLTkGD63TdldiMeBXVrdXz%2FPZzaLZc6QCpZ%2FFFTzFL1oy%2Fbfd%2BIrrerTG3dcJeiWk9leQzTLqKURnPDUzwjRfCfrX2tGM13i9%2B9VlHEoB9%2FE5oE4CAOxLl29NSQzWhfT1YJKpOaSP%2F%2B70G2KvAKxaMGhzL8q82VyHy49m2LMifnLBOj24ePk9F3kCvuhxtL3Iw5YOC0AY6kAEqZvbO%2BgFa5%2B2Tr7e1KLXDLdZedXLIMXXsPuIe19J9rArRe3DJWvFrJXNAbYOc7CJkK7Q0%2F0i%2FqXT1IV6zITqDlQ6JIP0rCMKc5uq0sJDFBCR8tZhblza7w4zweGR3dtFPuoLuwyoG2irn9UVqI1IZiDuIW1inEAIiFQCJhzu5%2Bdc%2B9JvHAz%2BExadQnp0HSvk%3D&X-Amz-Signature=770b3cdd678a664bfe67cc5f884e44514614b89005f29e2df911c60427b54c3c&X-Amz-SignedHeaders=host&response-content-disposition=attachment " =851x382")


---

### Frequently Asked Questions

**Q: What share prices does this use?** A: For public companies, we use the closing share price from the actual vest date pulled from our share price API.

**Q: What if we don't have historical share price data?** A: The feature requires financial history to work properly. For public companies, we backfill this data automatically. You can work with Pave support to backfill pre-IPO prices via the financing history table.

**Q: What if we have a vesting event prior to our earliest share price history?** A: We will default those vesting events to use the value of the earliest share price.

**Q: Does this work differently in Team View vs. Total Rewards?** A: The calculation is identical in both products. However, the default comparison differs: Team View's default is "current share price" while Total Rewards' default is "modeled share price". Value at Vest replaces both with vest date pricing.

**Q: What happens to the growth slider in Total Rewards?** A: When Value at Vest is enabled, the growth slider only affects unvested equity. Vested equity values remain fixed at their historical vest date prices regardless of slider position.

**Q: Can different employees see different calculation methods?** A: No. This is a company-level setting that applies to all employees and managers uniformly.

**Q: Does this affect unvested equity?** A: No. Value at Vest only changes how we calculate vested equity. Unvested equity calculations remain unchanged.

**Q: How does Value at Vest work in the Team View employee popout for the current period?** A: The current period in the Team View employee popout uses the modeled share price for all vested equity, even when Value at Vest is enabled. Value at vest pricing only applies to prior completed periods.


---




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