4 ms·
Your handbook mentions nothing about a ROFR, buyback options in bylaws, access to company bylaws or a complete lack of restrictions on equity ownership. All I
by mahyarm 10y ago
Your handbook mentions nothing about a ROFR, buyback options in bylaws, access to company bylaws or a complete lack of restrictions on equity ownership. All I can see is your equity vesting schedule.
You also do not talk about what employees could do with their options / stock and how the company would probably react to it. Like how would you react if they did a ESO fund style purchase of their options? Sold them on second market? Just purchased it personally?
I could be missing it but I can't see it right now.
- ncd 10y agoCorrect--these things are spelled out in the Stock Purchase Agreement each employee is given. I can tell you, however, that all limits imposed are spelled out clearly in that document, and not hidden in our bylaws. But you're right--we should put it in the handbook as well, because that's our living document for past, present, and future employees.
- tyre 10y agoYep. I linked to that because we do some things, like vesting, a bit differently. We want potential employees to have access to that information before applying. For the standard stuff, we walk through that with the employee during onboarding. Given that companies are starting to add these unfriendly clauses, we will spell out clearly that we only have a ROFR. I can also publish our bylaws