Shareholder Split Change Requests in Velveteen
Updated June 11, 2026
When a track has multiple shareholders and the shareholder list is locked, proposing a split change creates a change request. All shareholders must approve before the new splits take effect. The requester's approval is automatic. Other shareholders receive an email notification and must log in to approve or reject.
Once a track is in distribution and has multiple shareholders, no one party can change the royalty splits unilaterally. The change-request system requires all shareholders to agree before any new percentages take effect.
When change requests apply
A change request is required when a track has multiple shareholders with linked accounts and the track is locked. For a full description of what triggers the lock, see Locked shareholders.
How to propose a split change
- 1
Open the track
Open the track in your dashboard and go to the Shareholders tab. - 2
Edit the percentage
Change the share percentage for the shareholder you want to update. - 3
Change request created
Velveteen detects that the track is locked and that other shareholders exist. Instead of applying the change immediately, it creates a change request with your proposed new percentages for all shareholders. - 4
Other shareholders notified
Your approval is recorded automatically. The other shareholders receive an email asking them to review and approve or reject. - 5
Splits applied on full approval
Once all shareholders have approved, Velveteen applies the new splits. If anyone rejects, the request closes and the current splits remain.
Tip
Change request status lifecycle
A change request moves through three states:
- pending: Created, awaiting approval from all shareholders. This is the initial state.
- approved: All required shareholders have approved. Velveteen applies the new splits and closes the request.
- rejected: One shareholder rejected, or the request was superseded by a newer one. No splits were changed.
Heads up
Frequently asked questions
What if a shareholder never responds?+
Velveteen does not expire change requests automatically. The request stays pending until all shareholders have responded or someone rejects it. If a shareholder is unresponsive, contact Velveteen support for admin assistance.
Can I cancel a change request?+
Yes, indirectly. Submitting a new change request on the same track automatically cancels any existing pending request for that track. There is only ever one active change request per track.
Can an admin approve on my behalf?+
Yes. Admins can apply shareholder changes directly without going through the approval flow, bypassing the multi-shareholder requirement. This is used when the normal process is blocked.
What if there is only one shareholder on a locked track?+
Single-shareholder tracks can be edited directly, even when locked, because there is no other party whose approval is needed. The change-request flow only activates when multiple shareholders with linked accounts exist on the track.
What happens if a change request is rejected?+
The current splits remain unchanged. The rejected request is closed and marked rejected. You can create a new change request at any time to propose different splits.
Related articles
Locked shareholders
Shareholders lock when a track is attached to a submitted or live release. After that, edits require a change request.
What is a shareholder?
An email address and a share percentage on a single track: the basics of the shareholder entity.
How splits work
Percentages that must sum to 100% or less, distributed to each shareholder when royalty reports are processed.