[Question]: What is the difference between the `date` and the `settlement_date` for PlanSecurityRelease?

[Patrick Johnmeyer]

Question:

Currently, the documentation describes the date as Date on which the transaction occurred¹. It describes the settlement_date as The settlement date for the shares released, typically after the release transaction date. This is using the name of the field to describe the field and isn't terribly helpful.

My understanding is that date is the date of whatever occurrence triggers the release, but the settlement_date is the date that the shares are actually granted to the stakeholder. Is this accurate?

Whether it is or not, we should probably update the documentation to explain?

¹I will point out that this can theoretically be overridden at the leaf node, although I don't know if our doc generator supports.

Anything else we need to know?

[JSIV]

My hot take here - the date is the date the settlement was triggered / set into motion while the settlement_date is the date the shares were actually granted. Basically what you said, Patrick. Most of the time, I suspect these would be the same, but you can contrive some scenarios where a system or contract specifies you get the actual shares in question X period after some event occurs.

[JSIV]

@sachin-shrestha to update this and open a corresponding issue for exercise

[JSIV]

@sachin-shrestha, any updates here?

[Sachin Shrestha]

@JSv4 - Can't seem to be able to push to OCF repo still.
Wanted to change the settlement_date description in the following schema - https://raw.githubusercontent.com/Open-Cap-Table-Coalition/Open-Cap-Format-OCF/main/schema/primitives/objects/transactions/release/Release.schema.json
as follows:

"settlement_date": { "description": "The settlement date for the shares released, typically after the release transaction date to settle/finaize the transaction during liquidity events. In most cases, settlement date will be the same as the transaction date.", "$ref": "https://raw.githubusercontent.com/Open-Cap-Table-Coalition/Open-Cap-Format-OCF/main/schema/types/Date.schema.json" }