Overview
What is it:
The grant date is the date on which an equity award is officially awarded to you, the reference point from which the vesting schedule, and often the valuation, is measured.
Why does it matter:
This date matters because it's the reference point from which every date in the vesting schedule is calculated, starting the clock for the entire timeline. The grant date also determines which version of your company's long-term incentive program document actually governs a specific award. Companies periodically amend their long-term incentive programs, updating provisions like termination treatment or change-of-control terms, and those amendments typically apply only to grants made after the change, not retroactively to ones already outstanding. If you're holding multiple grants made at different points in your tenure, your grant date is what tells you which set of plan terms actually applies to each one.
What do people most often get wrong:
People often confuse the grant date with the date an offer was accepted or the date employment started. These can differ, sometimes by months, and the grant date is what actually starts the vesting clock.