Everyone

Glossary

Every term the platform uses, in plain words.

Unit: The thing you are given. It has a value that follows company performance. It is not a share and carries no ownership.
Grant: One award of units to one person, with a date and an earning schedule attached.
Earned (vested): The portion of a grant that is now truly yours. Only earned units count towards a payout.
Unearned: The rest of the grant. Still on the way, and lost if you leave before earning it.
Vesting: The process of gradually earning your units. Can be by time, by hitting a goal, or both.
Waiting period (cliff): A stretch at the start where nothing is earned at all. Leave before it ends and you keep nothing from that grant. Reach it and a chunk lands at once.
Schedule: The rulebook for how a grant is earned. Set once and reused for many employees.
KPI: A measurable goal. Either a percentage to reach, such as 90 percent of orders entered correctly, or a simple yes or no, such as completed the training.
Claim: An employee telling the company they met a goal, so the linked units can be released.
Unit value: What one unit is worth right now, published by Longpass from company results. See How unit value is set.
Cash out window (liquidity window): A period, opened by the company, during which employees may request to convert earned units into money.
Payout request: An employee asking to cash out a number of earned units during an open window.
Pro rata: If requests add up to more than the company set aside, everyone gets a fair share of what is available rather than first come first served.
Pool: The total number of units the company has made available to give out.
Workspace: Your company inside Longpass. Its own employees, units, goals and branding, entirely separate from every other company.