Board meeting package checklist for startups

 
A board meeting package contains all the needed documents and reports that will be discussed, or used to guide discussions, in an upcoming board meeting. Its goal is to prepare your board of directors for the meeting and should be sent to each of them for review at least three business days in advance.

The matters you plan to discuss should be noted as discussion items in the meeting agenda.

Commonly included board meeting package items

• A board deck
  • this is a set of slides that present important information for each topic you plan to discuss
• The minutes from the previous board meeting to be approved
• An up-to-date detailed capitalization table, detailing who owns what in your company
• Any drafts of compensation materials around salary, bonus and options (your lawyer can help you draft these)
• A list of any proposed stock option grants for approval
• A list of proposed resolutions that directors may be asked to vote on (together with any relevant materials such as copies of agreements to be approved)
• A summary of financial statements, including balance sheet, income statement, and cash flow statement
• Short operational reports from each group in the company
• An update on any Key Performance Indicators (KPIs) the company may be tracking over time

If you have board observers, check your relevant agreements (e.g., Investors‘ Rights Agreement, Management Rights Agreement, Side Letter, etc.) to see if you should send them the same materials.