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From page 135 you have what it may be consider one of the most ambitious founder-performance compensation plans ever. The latest tranche, to be observed between
by marc__1 5y ago
From page 135 you have what it may be consider one of the most ambitious founder-performance compensation plans ever. The latest tranche, to be observed between 2027 and 2030, will be granted if the share price of Gitlab reaches $500, or 26x the price per share of the most recent fundraising (Series E at $18.6294 per share)
Here is the text if anyone cares fo cmd+F:
"The following table indicates the price hurdle and the corresponding performance period in which that hurdle must be achieved and the service vesting date upon which the corresponding vesting is contingent"
- nexuist 5y agoMaybe they're counting on inflation ;)
- sm4rk0 5y agoWhat happens if USD is no more in 2030?
- marc__1 5y ago"The applicable price hurdle must be achieved during the relevant performance period (as set forth in the table below corresponding to the price hurdle) in order for the applicable tranche of RSU Awards to be earned, but once a price hurdle is achieved, the price hurdle need not be maintained in order for the applicable RSU Award tranche to continue to vest based on service. Once a price hurdle is no longer achievable due to the lapse of a performance period or if Mr. Sijbrandij ceases to be the CEO, any then-unvested portion of the RSU Award will be immediately forfeited."