This article covers how a Super Admin sets up and maintains vesting schedules for a carry vehicle.
Who configures vesting
Vesting schedules are configured by Super Admins. They are set at the carry vehicle level, each carry vehicle can have one default schedule that applies to all holders in that vehicle, with per-holder overrides where individual terms differ from the default.
When to configure a schedule
The cleanest moment to author a vesting schedule is at carry-vehicle creation, before any holders are added, so that every holder added to the vehicle inherits the default schedule automatically.
You can also add or change schedules later. Edits apply going forward, and historical records are preserved in the audit trail.
Schedule types
Cliff: nothing vests until a specified date, then a defined percentage vests at once.
Linear: a fixed percentage vests each year over a set number of years.
Milestone: vesting tied to specific milestones, either dates or fund events.
Custom breakpoint: bespoke schedules with arbitrary increments on chosen dates.
A firm can configure different schedules for different funds. For example, an older fund may use a different vesting structure than newer ones.
What you enter
For each schedule, you set:
Schedule type: cliff, linear, milestone, or custom breakpoint
Schedule start date: the date from which vesting begins
Lock-up period: any period before vesting starts
Increments: one or more entries defining when and how much vests at each step
Final vesting date: the date by which the holder is 100% vested
A live preview of the curve and the milestone table updates as you configure, so you can confirm the schedule matches your carry plan provisions before saving.
Per-holder overrides
Most holders in a vehicle follow the default. Where a particular holder has a negotiated schedule (for example, an accelerated cliff for a senior partner), you can override the schedule at the holder level. Overrides are clearly surfaced so they are not hidden from view.
What happens next
Once a schedule is applied:
Vested percentages are recomputed automatically whenever they are needed.
Every holder's Holdings table shows their current vested percentage.
The Total Vested and Total Unvested cards on the GP dashboard reflect real figures.
Each holder sees their curve and milestone table on the Vesting sub-tab of their dashboard (see Vesting on Navys).
Getting help
For any further questions or assistance, please reach out via the chat on the platform or contact the Navys support team at [email protected].