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there are also a lot of stories of early wework employees who were essentially told "we will give you options soon in the future, but sign your employment contr
by tmh79 7y ago
there are also a lot of stories of early wework employees who were essentially told "we will give you options soon in the future, but sign your employment contracts now and trust that we'll get it done" and then didn't get it done. Really shady all around.
- olliej 7y agoOh yeah, I would always mandate that be a $ value in the contract. Edit: to clarify I mean “$x of shares”
- redshirtrob 7y agoI've always seen it worded as "The Company will grant you X shares subject to approval by the Board." I've never had the board not approve what was promised in the employment letter, but that wording sure makes it seem like it could happen.
- olliej 7y agoThe problem is when each funding round devalues and dilutes individual shares but delays actually granting you stock, so you get the same X shares your contract stipulates but after they’ve all been devalued.