5 ms·
Ask HN: How do you sell employee shares?
I have those shares from a (french) company I used to work for, and I don't know how to find a buyer, conduct the sale, etc. Most of the documents I have are confidential, due diligence needs the company's help and I have no clue how to pitch my shares. I have no good proof I own those shares (well, I have the signed minutes of the attribution assembly, but it's confidential). The company is not interested in buying them back.
Maybe I should sort my questions:
1) who might be interested in buying?
2) how can I pitch it to them, when most of the documents I have are confidential?
3) how do we conduct the sale?
- fred_is_fred 11y agoI think you need an attorney.
- nraynaud 11y agoTo be fair I talked to a lawyer who was not helpful for this question.
- antaviana 11y agoOne option is selling them to the company itself. They might reuse them for another employee compensation later or give them to the remaining shareholders. Typically companies are keen to keep among they shareholders only those that can bring in value and try to keep out those that might sue them for mismanagement at the earliest opportunity.
- nraynaud 11y agothey are not interested, I'm curious about the logic behind that, like when a company decides to buy it back and when to leave it to the former employee. I'm feeling a bit trapped, I think next time I'll avoid doing this mistake.
- tptacek 11y agoIt is likely that you cannot sell them. (I'd say "very likely" but I don't know the situation in France. In the US, especially with a funded company, count on not being able to sell your shares.)
- andrewmcwatters 11y agoThose shares were worthless, from what it sounds.
- ig1 11y agoSell to another employee ? But your situation seems bizarre, I'm not familiar with french stock practices, but I doubt that's normal for France.
- nraynaud 11y agocould you elaborate on the bizarreness please? it's my first time too, so I don't know what's normal.
- j2bax 11y agoOffer to sell them to one of the owners ex-wives for really cheap.
- imauld 11y agoJust a clarifying question: They gave you stock backed up by documents that you can't show anyone?
- nraynaud 11y agoThe shareholder meeting minutes are confidential. I can show them to my lawyer, accountant etc. But not to random people in the street, asking: "pst, 'want some shares?".
- rahimnathwani 11y agoIn the UK, each company must file an Annual Return with Companies House. The Annual Return includes a full list of the company's shareholders, along with how many shares they have. The information is public: https://beta.companieshouse.gov.uk/ https://beta.companieshouse.gov.uk/ Does infogreffe.fr have a similar thing?