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StartupBuilderby Startups.Studio
Business
Changelog
Events

Instrument.exercised

Emitted each time an Instrument is exercised.

Instrument.exercise emits Instrument.exercised when it completes on an Instrument.

PropertyValue
Emitted byInstrument.exercise
NounInstrument
MovesInstrument outstanding to exercised
WakesNone.

Payload

Each delivery is an Event record. data holds what Instrument.exercise returns, and previous holds the state it left.

FieldTypeRequiredDescription
namestringrequiredInstrument.exercised.
atdatetimerequiredWhen it happened.
seqintegerIts position in the namespace, one more than the Event before; any seq is a cursor into the history.
datajsonrequiredThe Thing as the Action left it.
data.shareSharerequiredThe Shares bought.
data.instrumentInstrumentrequiredThe Instrument, now exercised.
data.instrument.kindstringrequiredWhich right: safe, note, option or warrant.
data.instrument.amountmoneyThe amount invested, for a SAFE or a note.
data.instrument.capmoneyThe valuation cap a SAFE or note converts at.
data.instrument.discountnumberThe percent discount to the next priced round a SAFE or note converts at.
data.instrument.strikemoneyThe price per Share an option or warrant exercises at.
data.instrument.quantityintegerThe Shares an option or warrant covers.
data.instrument.vestingjsonThe vesting schedule and cliff of an option grant.
data.instrument.statusstringrequiredWhere it stands; a canceled or converted Instrument is kept, never deleted.
data.previous.statusstringrequiredThe status before this Event: outstanding.

Example

JSON
{
  "$id": "https://api.sb/patentpad.com/events/event_1",
  "$type": "Event",
  "name": "Instrument.exercised",
  "at": "2026-10-22T12:00:00Z",
  "data": {
    "share": {
      "$id": "https://api.sb/patentpad.com/shares/share_1",
      "$type": "Share",
      "class": "common",
      "quantity": 1
    },
    "instrument": {
      "$id": "https://api.sb/patentpad.com/instruments/instrument_1",
      "$type": "Instrument",
      "kind": "safe",
      "amount": {
        "amount": 499,
        "currency": "USD"
      },
      "cap": {
        "amount": 499,
        "currency": "USD"
      },
      "discount": 1,
      "strike": {
        "amount": 499,
        "currency": "USD"
      },
      "quantity": 1,
      "vesting": {},
      "status": "exercised"
    },
    "previous": {
      "status": "outstanding"
    }
  },
  "seq": 1
}