This is correct. I believe the share-price they pick is something like the average daily share price for the next full month after you join. So if you join Jan

This is correct. I believe the share-price they pick is something like the average daily share price for the next full month after you join. So if you join Jan 28, the $$ value of your stock grant will be evaluated around March 1 to determine your grant-price, and then you'll get your first vested shares monthly (around the 25th, I think?). I believe they used to due quarterly vesting for folks who didn't get much equity, but now that you can have vesting of fractional shares, ~everybody should be on a monthly vesting schedule.