0.2% alone does not tell much. With my limited knowledge you want to know how much shares was issued and at what price, and based on that you can think what tha

0.2% alone does not tell much. With my limited knowledge you want to know how much shares was issued and at what price, and based on that you can think what that 0.2% may (or may not) mean. If I was in your friend's shoes I would assume this 0.2% translates to 0$ right now to avoid sad surprises later. It is also generally good to know if the company is already profitable (I'd guess if it's early startup it's not profitable), what is the runaway if, say, today they lose all customers and have to pivot, how much they earned in the last few months on month-to-month chart, how many paying customers they have. And also remember that 4 years is a lot of time, your friend may not want to stay for such a long time so it would be good if these shares vest in portions every year. Otherwise once your friend gets closer to 4 years mark there might be a surprise waiting for him if founders decide 0.2% is too much.