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Don't have time to go through the docs just yet, but great to see mentions of cashless exercise included. A more generous post-termination exercise window would
by prdonahue 11y ago
Don't have time to go through the docs just yet, but great to see mentions of cashless exercise included. A more generous post-termination exercise window would have been a nicer default, but I get that's still the norm in many YC companies.
Over time I suspect that will change as more and more people learn the questions they should ask when evaluating an offer, i.e., as they transition from naive price takers to more sophisticated price setters. This link was circulated on HN a few weeks(?) ago, but it's worth reposting: https://github.com/jlevy/og-equity-compensation https://github.com/jlevy/og-equity-compensation.
And here are some companies that offer >90 days: https://github.com/holman/extended-exercise-windows https://github.com/holman/extended-exercise-windows (e.g., Coinbase and Pinterest with 7 years, Quora and Asana with 10 years, etc.). Interesting to see two companies in the list founded by early Facebook employees -- well, cofounder and CTO -- do longer periods. Wonder if people got burned there by the standard period?
- brotherjerky 11y agoCashless exercise is one of those things that costs the company very little, but is incredibly advantageous for the employee. However, companies don't always love it, because it removes a lot of the "golden handcuffs" that serve as a shady way to retain employees as valuation climbs.
- swampthing 11y agoAh, thanks for pointing that out - we didn't intend to make a normative statement with respect to the defaults. We'll update with examples of longer post-termination exercise windows (we've set up these forms so that it's easy for companies to customize this part).