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The OP said it was a 4yr reverse vesting schedule and that they currently owned 40%.

• ericd 6y ago
  With a 1 year cliff, I’m pretty sure he effectively owns 0 right now.
  • swiftcoder 6y ago
    With a reverse vest, you own the shares immediately, and the vesting schedule defines how much of the shares you retain if you leave (i.e. if he quits now, 100% will be clawed back).
    • ericd 6y ago
      Yep, which means he effectively doesn’t own them right now, in any meaningful financial sense. For the purposes of control, sure. The parent comment of this thread was talking about keeping 40% of nothing.
      • swiftcoder 6y ago
        There's a decent chance that the other founder is in the same position, in which case the investor is the only one with a real stake in things