Long story short... you will likely need a liquidity event for your shares to be sold for cash. This could be though an acquisition, IPO, or the board decidin

Long story short... you will likely need a liquidity event for your shares to be sold for cash. This could be though an acquisition, IPO, or the board deciding to let you sell your shares (usually back to the company via the right of first refusal). Your shares are sort of "worthless" until one of these events, that is the risk you take by allowing some of your compensation to be delivered in private stock. The good news is they are offering you a .25% vested stake and a shorter-than-normal vesting period of 3 years. Once those shares vest they are yours forever, or until you sell. If you decide to leave the company there is a chance they will offer to buy you out of your vested shares, that is where you can make some cash.