Board Meeting Prep Checklist: Part 2

In our last post on board meeting best practices, we outlined a checklist for the 30-day window up until 2 weeks before the board meeting. Here we walk through the final actions we recommend taking leading up to the day of your next board meeting.

Compile List of Options Grants For Board to Approve

(10 days prior to BOD meeting)

• Prepare to have your board of directors approve any options grants (for new hires and equity top-ups) issued throughout the quarter for which you’re holding the meeting as part of the cap table management process. While this is generally a formality, most startups save these approvals for their board meetings so they can batch all-new options grants at once.
• Be sure to add up the total number of options you issued during the quarter. Make sure the ESOP will have sufficient shares remaining to grant all these options.

Draft Preliminary BOD materials and Share with Board For Feedback

(7 days prior to BOD meeting)

• Now, you can begin drafting the preliminary BOD materials about seven days prior to the meeting.
• Once you’ve finished the preliminary materials, give everyone that will be at the meeting — especially investors — a chance to read through all materials beforehand. That way, you can receive valuable feedback before the meeting.
• From there, incorporate that investor feedback on your meeting materials into the BOD meeting presentation. This streamlines the “results” section of your presentation, creating more time to address strategic takeaways during the meeting.

Distribute Finalized BOD deck

(Three days prior to BOD meeting)

• Now that you have finalized your BOD meeting deck, make sure to distribute it three days before the meeting. Once again, doing so will provide everyone ample time to skim over the deck and be prepared for the meeting — offering more time for valuable, productive discussion and reflection.

Need Help Preparing For Your Board Meeting?

At airCFO, we help founders and startups prepare their quarterly financials and projections for your board meeting. We can also help you define your board meeting’s narrative and manage the preparatory steps laid out above. Reach out to us today if you have questions about our complete board meeting prep checklist or if you’d like assistance preparing for your next BOD meeting. Remember, your board members are accomplished and experienced with a great deal of advice and counsel to offer. Preparing and providing material for their review well in advance of the meeting elevates your time together into a more thoughtful discussion about important strategic issues. We hope this checklist allows you to run a stress-free and productive meeting – and that your meeting prep gets easier and more streamlined each quarter.