Enforce stock class conversion right references

Test/daml/OpenCapTable/TestConversionMechanisms.daml

@@ -13,7 +13,7 @@ import Fairmint.OpenCapTable.Types.Monetary (OcfMonetary(..))
 import Fairmint.OpenCapTable.Types.Stock (OcfInitialSharesAuthorized(..), OcfQuantitySourceType(..), OcfRatio(..), OcfStockClassType(..))
 import OpenCapTable.HelpersTriggers (ocfTriggerElectiveAtWill)
 import OpenCapTable.Setup
-import OpenCapTable.TestHelpers (addDefaultStakeholder)
+import OpenCapTable.TestHelpers (addDefaultStakeholder, defaultStockClass)
 
 testTime : Time
 testTime = DT.time (DA.date 2024 Jan 1) 0 0 0
@@ -392,22 +392,25 @@ testConversionMechanismRights_AllValidVariantsCreate = script do
   capTableCid <- addDefaultStakeholder issuer cap_table
   result1 <- submit issuer do
     exerciseCmd capTableCid CT.UpdateCapTable with
-      creates = [CT.OcfCreateStockClass StockClassOcfData with
-        id = "SC_PREFERRED_ALL_CONVERSION_MECHANISMS"
-        name = "Preferred All Conversion Mechanisms"
-        class_type = OcfStockClassTypePreferred
-        default_id_prefix = "PAM-"
-        initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
-        votes_per_share = 1.0
-        seniority = 2.0
-        board_approval_date = None
-        stockholder_approval_date = None
-        par_value = None
-        price_per_share = None
-        liquidation_preference_multiple = None
-        participation_cap_multiple = None
-        conversion_rights = validStockClassRights
-        comments = []]
+      creates =
+        [ CT.OcfCreateStockClass (defaultStockClass "SC_COMMON")
+        , CT.OcfCreateStockClass (StockClassOcfData with
+            id = "SC_PREFERRED_ALL_CONVERSION_MECHANISMS"
+            name = "Preferred All Conversion Mechanisms"
+            class_type = OcfStockClassTypePreferred
+            default_id_prefix = "PAM-"
+            initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
+            votes_per_share = 1.0
+            seniority = 2.0
+            board_approval_date = None
+            stockholder_approval_date = None
+            par_value = None
+            price_per_share = None
+            liquidation_preference_multiple = None
+            participation_cap_multiple = None
+            conversion_rights = validStockClassRights
+            comments = [])
+        ]
       edits = []
       deletes = []
   result2 <- submit issuer do
@@ -460,22 +463,25 @@ testConversionMechanismRights_InvalidVariantsReject = script do
   capTableCid <- addDefaultStakeholder issuer cap_table
   stockControl <- submit issuer do
     exerciseCmd capTableCid CT.UpdateCapTable with
-      creates = [CT.OcfCreateStockClass StockClassOcfData with
-        id = "SC_VALID_CONVERSION_MECHANISM_CONTROL"
-        name = "Valid Conversion Mechanism Control"
-        class_type = OcfStockClassTypePreferred
-        default_id_prefix = "VCM-"
-        initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
-        votes_per_share = 1.0
-        seniority = 2.0
-        board_approval_date = None
-        stockholder_approval_date = None
-        par_value = None
-        price_per_share = None
-        liquidation_preference_multiple = None
-        participation_cap_multiple = None
-        conversion_rights = [stockClassRightWith OcfConversionMechanismRatioConversion None None (Some validRatio) None None None None None]
-        comments = []]
+      creates =
+        [ CT.OcfCreateStockClass (defaultStockClass "SC_COMMON")
+        , CT.OcfCreateStockClass (StockClassOcfData with
+            id = "SC_VALID_CONVERSION_MECHANISM_CONTROL"
+            name = "Valid Conversion Mechanism Control"
+            class_type = OcfStockClassTypePreferred
+            default_id_prefix = "VCM-"
+            initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
+            votes_per_share = 1.0
+            seniority = 2.0
+            board_approval_date = None
+            stockholder_approval_date = None
+            par_value = None
+            price_per_share = None
+            liquidation_preference_multiple = None
+            participation_cap_multiple = None
+            conversion_rights = [stockClassRightWith OcfConversionMechanismRatioConversion None None (Some validRatio) None None None None None]
+            comments = [])
+        ]
       edits = []
       deletes = []
   submitMustFail issuer do

Test/daml/OpenCapTable/TestStockClass.daml

@@ -11,25 +11,28 @@ import qualified DA.Date as DA
 import DA.Date (Month(..))
 import qualified DA.Time as DT
 
+commonStockClassData : StockClassOcfData
+commonStockClassData = StockClassOcfData with
+  id = "SC_COMMON"
+  name = "Common"
+  class_type = OcfStockClassTypeCommon
+  default_id_prefix = "CS-"
+  initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
+  votes_per_share = 1.0
+  seniority = 1.0
+  board_approval_date = None
+  stockholder_approval_date = None
+  par_value = None
+  price_per_share = None
+  liquidation_preference_multiple = None
+  participation_cap_multiple = None
+  conversion_rights = []
+  comments = []
+
 createStockClass issuer capTableCid =
   submit issuer do
     exerciseCmd capTableCid CT.UpdateCapTable with
-      creates = [CT.OcfCreateStockClass StockClassOcfData with
-        id = "SC_COMMON"
-        name = "Common"
-        class_type = OcfStockClassTypeCommon
-        default_id_prefix = "CS-"
-        initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
-        votes_per_share = 1.0
-        seniority = 1.0
-        board_approval_date = None
-        stockholder_approval_date = None
-        par_value = None
-        price_per_share = None
-        liquidation_preference_multiple = None
-        participation_cap_multiple = None
-        conversion_rights = []
-        comments = []]
+      creates = [CT.OcfCreateStockClass commonStockClassData]
       edits = []
       deletes = []
 
@@ -65,22 +68,25 @@ testCreateStockClass_OptionalsSome = script do
         valuation_cap = None
   _ <- submit issuer do
     exerciseCmd cap_table CT.UpdateCapTable with
-      creates = [CT.OcfCreateStockClass StockClassOcfData with
-        id = "SC_PREFERRED"
-        name = "Preferred"
-        class_type = OcfStockClassTypePreferred
-        default_id_prefix = "PS-"
-        initial_shares_authorized = OcfInitialSharesNumeric 2_000_000.0
-        votes_per_share = 1.0
-        seniority = 2.0
-        board_approval_date = Some (DT.time (DA.date 2024 Jan 1) 0 0 0)
-        stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 15) 0 0 0)
-        par_value = Some (OcfMonetary with amount = 0.0001, currency = "USD")
-        price_per_share = Some (OcfMonetary with amount = 1.0, currency = "USD")
-        liquidation_preference_multiple = Some 1.0
-        participation_cap_multiple = None
-        conversion_rights = [ convRight ]
-        comments = ["Preferred terms"]]
+      creates =
+        [ CT.OcfCreateStockClass commonStockClassData
+        , CT.OcfCreateStockClass (StockClassOcfData with
+            id = "SC_PREFERRED"
+            name = "Preferred"
+            class_type = OcfStockClassTypePreferred
+            default_id_prefix = "PS-"
+            initial_shares_authorized = OcfInitialSharesNumeric 2_000_000.0
+            votes_per_share = 1.0
+            seniority = 2.0
+            board_approval_date = Some (DT.time (DA.date 2024 Jan 1) 0 0 0)
+            stockholder_approval_date = Some (DT.time (DA.date 2024 Jan 15) 0 0 0)
+            par_value = Some (OcfMonetary with amount = 0.0001, currency = "USD")
+            price_per_share = Some (OcfMonetary with amount = 1.0, currency = "USD")
+            liquidation_preference_multiple = Some 1.0
+            participation_cap_multiple = None
+            conversion_rights = [ convRight ]
+            comments = ["Preferred terms"])
+        ]
       edits = []
       deletes = []
   pure ()
@@ -107,22 +113,25 @@ testCreateStockClass_PpsBasedConversion = script do
         valuation_cap = None
   _ <- submit issuer do
     exerciseCmd cap_table CT.UpdateCapTable with
-      creates = [CT.OcfCreateStockClass StockClassOcfData with
-        id = "SC_PREFERRED_PPS"
-        name = "Preferred PPS"
-        class_type = OcfStockClassTypePreferred
-        default_id_prefix = "PP-"
-        initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
-        votes_per_share = 1.0
-        seniority = 2.0
-        board_approval_date = None
-        stockholder_approval_date = None
-        par_value = None
-        price_per_share = None
-        liquidation_preference_multiple = None
-        participation_cap_multiple = None
-        conversion_rights = [ convRight ]
-        comments = []]
+      creates =
+        [ CT.OcfCreateStockClass commonStockClassData
+        , CT.OcfCreateStockClass (StockClassOcfData with
+            id = "SC_PREFERRED_PPS"
+            name = "Preferred PPS"
+            class_type = OcfStockClassTypePreferred
+            default_id_prefix = "PP-"
+            initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
+            votes_per_share = 1.0
+            seniority = 2.0
+            board_approval_date = None
+            stockholder_approval_date = None
+            par_value = None
+            price_per_share = None
+            liquidation_preference_multiple = None
+            participation_cap_multiple = None
+            conversion_rights = [ convRight ]
+            comments = [])
+        ]
       edits = []
       deletes = []
   pure ()
@@ -148,22 +157,25 @@ testCreateStockClass_PpsBasedConversionFailsWithoutReferencePrice = script do
         valuation_cap = None
   submitMustFail issuer do
     exerciseCmd cap_table CT.UpdateCapTable with
-      creates = [CT.OcfCreateStockClass StockClassOcfData with
-        id = "SC_PREFERRED_PPS_FAIL"
-        name = "Preferred PPS Fail"
-        class_type = OcfStockClassTypePreferred
-        default_id_prefix = "PF-"
-        initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
-        votes_per_share = 1.0
-        seniority = 2.0
-        board_approval_date = None
-        stockholder_approval_date = None
-        par_value = None
-        price_per_share = None
-        liquidation_preference_multiple = None
-        participation_cap_multiple = None
-        conversion_rights = [ convRight ]
-        comments = []]
+      creates =
+        [ CT.OcfCreateStockClass commonStockClassData
+        , CT.OcfCreateStockClass (StockClassOcfData with
+            id = "SC_PREFERRED_PPS_FAIL"
+            name = "Preferred PPS Fail"
+            class_type = OcfStockClassTypePreferred
+            default_id_prefix = "PF-"
+            initial_shares_authorized = OcfInitialSharesNumeric 1_000_000.0
+            votes_per_share = 1.0
+            seniority = 2.0
+            board_approval_date = None
+            stockholder_approval_date = None
+            par_value = None
+            price_per_share = None
+            liquidation_preference_multiple = None
+            participation_cap_multiple = None
+            conversion_rights = [ convRight ]
+            comments = [])
+        ]
       edits = []
       deletes = []
   pure ()

Test/daml/OpenCapTable/TestStockClassConversionRightReferences.daml

@@ -0,0 +1,91 @@
+module OpenCapTable.TestStockClassConversionRightReferences where
+
+import Fairmint.OpenCapTable.OCF.StockClass
+import Fairmint.OpenCapTable.Types.Conversion
+import Fairmint.OpenCapTable.Types.Stock
+import qualified Fairmint.OpenCapTable.CapTable as CT
+import OpenCapTable.HelpersTriggers (ocfTriggerElectiveAtWill)
+import OpenCapTable.Setup
+import OpenCapTable.TestHelpers
+import Daml.Script
+
+stockClassConversionRightTo : Text -> OcfStockClassConversionRight
+stockClassConversionRightTo stockClassId = OcfStockClassConversionRight with
+  ceiling_price_per_share = None
+  conversion_mechanism = OcfConversionMechanismRatioConversion
+  conversion_price = None
+  conversion_trigger = ocfTriggerElectiveAtWill
+  converts_to_future_round = None
+  converts_to_stock_class_id = stockClassId
+  custom_description = None
+  discount_rate = None
+  expires_at = None
+  floor_price_per_share = None
+  percent_of_capitalization = None
+  ratio = Some (OcfRatio with numerator = 1.0, denominator = 1.0)
+  reference_share_price = None
+  reference_valuation_price_per_share = None
+  type_ = "STOCK_CLASS_CONVERSION_RIGHT"
+  valuation_cap = None
+
+preferredStockClassWithConversionRight : Text -> Text -> StockClassOcfData
+preferredStockClassWithConversionRight stockClassId targetStockClassId =
+  (defaultStockClass stockClassId) with
+    name = "Preferred Stock"
+    class_type = OcfStockClassTypePreferred
+    default_id_prefix = "PS-"
+    seniority = 2.0
+    conversion_rights = [stockClassConversionRightTo targetStockClassId]
+
+testStockClassConversionRightTargetCreatedInSameBatchSucceeds = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+
+  _ <- submit issuer do
+    exerciseCmd cap_table CT.UpdateCapTable with
+      creates =
+        [ CT.OcfCreateStockClass (preferredStockClassWithConversionRight "SC_PREFERRED_CONVERTS" "SC_COMMON_TARGET")
+        , CT.OcfCreateStockClass (defaultStockClass "SC_COMMON_TARGET")
+        ]
+      edits = []
+      deletes = []
+  pure ()
+
+testStockClassConversionRightMissingTargetFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+
+  submitMustFail issuer do
+    exerciseCmd cap_table CT.UpdateCapTable with
+      creates = [CT.OcfCreateStockClass (preferredStockClassWithConversionRight "SC_PREFERRED_MISSING_TARGET" "SC_MISSING_TARGET")]
+      edits = []
+      deletes = []
+
+testStockClassConversionRightEditMissingTargetFails = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  result <- submit issuer do
+    exerciseCmd cap_table CT.UpdateCapTable with
+      creates = [CT.OcfCreateStockClass (defaultStockClass "SC_PREFERRED_EDIT_TARGET")]
+      edits = []
+      deletes = []
+
+  submitMustFail issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates = []
+      edits = [CT.OcfEditStockClass (preferredStockClassWithConversionRight "SC_PREFERRED_EDIT_TARGET" "SC_MISSING_EDIT_TARGET")]
+      deletes = []
+
+testStockClassConversionRightTargetDeleteCannotLeaveDanglingReference = script do
+  TestOcp{issuer, cap_table} <- setupTestOcp
+  result <- submit issuer do
+    exerciseCmd cap_table CT.UpdateCapTable with
+      creates =
+        [ CT.OcfCreateStockClass (preferredStockClassWithConversionRight "SC_PREFERRED_DANGLING_TARGET" "SC_COMMON_DELETE_TARGET")
+        , CT.OcfCreateStockClass (defaultStockClass "SC_COMMON_DELETE_TARGET")
+        ]
+      edits = []
+      deletes = []
+
+  submitMustFail issuer do
+    exerciseCmd result.updatedCapTableCid CT.UpdateCapTable with
+      creates = []
+      edits = []
+      deletes = [CT.OcfDeleteStockClass "SC_COMMON_DELETE_TARGET"]

dars/dars.lock

@@ -12,8 +12,8 @@
       ]
     },
     "OpenCapTable-v34/0.0.2/OpenCapTable-v34.dar": {
-      "sha256": "5b3a2b94ae2958fd9bd75e7f3c7c8acbd2f2554e407a01111aae6224a9f06b07",
-      "size": 2496888,
+      "sha256": "734c726d6e7f12379e46981fb2299a35e30339765be4952a7b5684a27b98f35d",
+      "size": 2498339,
       "sdkVersion": "3.4.10",
       "uploadedAt": "2026-07-07T21:50:59.634Z",
       "networks": []