# Instrument routes: cancel, convert, exercise

URL: /code/api/instrument/verbs · Id: `page:code/api/instrument/verbs`

> The Instrument Verbs cancel, convert, exercise as api.sb routes, with inputs, result, refusals and an example.

Reference for [Instrument](/business/nouns/instrument), one group of [Instrument routes](/code/api/instrument).

### Instrument.cancel
Cancel ends an unvested, expired or forfeited Instrument and returns any option Shares to the pool. [Verb page](/business/nouns/instrument/cancel?interface=api).

```text
POST /{namespace}/instruments/{instrument}/cancel
```

Path: `instrument`. Body, as JSON: the other inputs. Emits [`Instrument.canceled`](/business/events/Instrument.canceled).

**Inputs**

| Input | Type | Required | Description |
| --- | --- | --- | --- |
| `instrument` | [Instrument](/business/nouns/instrument) | Yes | The Instrument to end. |
| `reason` | `string` | Yes | Why it ends: `unvested`, `expired` or `forfeited`. |

**Returns**

| Output | Type | Required | Description |
| --- | --- | --- | --- |
| `instrument` | [Instrument](/business/nouns/instrument) | Yes | The canceled Instrument, kept with its history. |

**Refuses when**

| Check | Error | Fix | Then call |
| --- | --- | --- | --- |
| The key is valid, but its scopes do not allow this operation. | [`forbidden`](/code/api/errors/forbidden) | Use a key whose scopes cover the operation, or ask an owner of the namespace to grant them. | None. |

**Example**

```bash
curl -X POST https://api.sb/leaseline.app/instruments/instrument_yZz4i2meOW/cancel \
  -H "Authorization: Bearer $STARTUP_BUILDER_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{"reason":"unvested"}'
```

```json
{
  "api": "https://api.sb/leaseline.app",
  "instrument": {
    "$id": "https://api.sb/leaseline.app/instruments/instrument_yZz4i2meOW",
    "$type": "Instrument",
    "kind": "safe",
    "status": "outstanding"
  },
  "action": {
    "$id": "https://api.sb/leaseline.app/actions/act_br07HsG8MG",
    "operation": "Instrument.cancel",
    "status": "done"
  },
  "links": {
    "self": "https://api.sb/leaseline.app/actions/act_br07HsG8MG"
  }
}
```

### Instrument.convert
Convert turns a SAFE or note into Shares at a priced round, at its cap or discount, whichever gives more Shares. [Verb page](/business/nouns/instrument/convert?interface=api).

```text
POST /{namespace}/instruments/{instrument}/convert
```

Path: `instrument`. Body, as JSON: the other inputs. Emits [`Instrument.converted`](/business/events/Instrument.converted).

**Inputs**

| Input | Type | Required | Description |
| --- | --- | --- | --- |
| `instrument` | [Instrument](/business/nouns/instrument) | Yes | The SAFE or note. |
| `roundPrice` | `money` | Yes | The price per Share of the priced round. |

**Returns**

| Output | Type | Required | Description |
| --- | --- | --- | --- |
| `shares` | list of [Share](/business/nouns/share) | Yes | The Shares issued on conversion. |
| `instrument` | [Instrument](/business/nouns/instrument) | Yes | The Instrument, now converted. |

**Refuses when**

| Check | Error | Fix | Then call |
| --- | --- | --- | --- |
| The key is valid, but its scopes do not allow this operation. | [`forbidden`](/code/api/errors/forbidden) | Use a key whose scopes cover the operation, or ask an owner of the namespace to grant them. | None. |

**Example**

```bash
curl -X POST https://api.sb/leaseline.app/instruments/instrument_yZz4i2meOW/convert \
  -H "Authorization: Bearer $STARTUP_BUILDER_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{"roundPrice":{"amount":29,"currency":"USD"}}'
```

```json
{
  "api": "https://api.sb/leaseline.app",
  "shares": [
    {
      "$id": "https://api.sb/leaseline.app/shares/share_yiQ4iEmeOW",
      "$type": "Share",
      "class": "common",
      "quantity": 1
    }
  ],
  "instrument": {
    "$id": "https://api.sb/leaseline.app/instruments/instrument_yZz4i2meOW",
    "$type": "Instrument",
    "kind": "safe",
    "status": "outstanding"
  },
  "action": {
    "$id": "https://api.sb/leaseline.app/actions/act_br07HsG8MG",
    "operation": "Instrument.convert",
    "status": "done"
  },
  "links": {
    "self": "https://api.sb/leaseline.app/actions/act_br07HsG8MG"
  }
}
```

### Instrument.exercise
Exercise buys the Shares an option or warrant covers at its strike price, up to what has vested. [Verb page](/business/nouns/instrument/exercise?interface=api).

```text
POST /{namespace}/instruments/{instrument}/exercise
```

Path: `instrument`. Body, as JSON: the other inputs. Emits [`Instrument.exercised`](/business/events/Instrument.exercised).

**Inputs**

| Input | Type | Required | Description |
| --- | --- | --- | --- |
| `instrument` | [Instrument](/business/nouns/instrument) | Yes | The option or warrant. |
| `quantity` | `integer` | Yes | How many Shares to buy. |

**Returns**

| Output | Type | Required | Description |
| --- | --- | --- | --- |
| `share` | [Share](/business/nouns/share) | Yes | The Shares bought. |
| `instrument` | [Instrument](/business/nouns/instrument) | Yes | The Instrument, now exercised. |

**Refuses when**

| Check | Error | Fix | Then call |
| --- | --- | --- | --- |
| The key is valid, but its scopes do not allow this operation. | [`forbidden`](/code/api/errors/forbidden) | Use a key whose scopes cover the operation, or ask an owner of the namespace to grant them. | None. |

**Example**

```bash
curl -X POST https://api.sb/leaseline.app/instruments/instrument_yZz4i2meOW/exercise \
  -H "Authorization: Bearer $STARTUP_BUILDER_API_KEY" \
  -H "Content-Type: application/json" \
  -d '{"quantity":1}'
```

```json
{
  "api": "https://api.sb/leaseline.app",
  "share": {
    "$id": "https://api.sb/leaseline.app/shares/share_yiQ4iEmeOW",
    "$type": "Share",
    "class": "common",
    "quantity": 1
  },
  "instrument": {
    "$id": "https://api.sb/leaseline.app/instruments/instrument_yZz4i2meOW",
    "$type": "Instrument",
    "kind": "safe",
    "status": "outstanding"
  },
  "action": {
    "$id": "https://api.sb/leaseline.app/actions/act_br07HsG8MG",
    "operation": "Instrument.exercise",
    "status": "done"
  },
  "links": {
    "self": "https://api.sb/leaseline.app/actions/act_br07HsG8MG"
  }
}
```