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I'm curious about this as well. Does your employer know that you sold or not?
by onphonenow 5y ago
I'm curious about this as well. Does your employer know that you sold or not?
- SilasX 5y agoUsually, they'll have to, since such stock is usually conditioned on you granting the employer the Right of First Refusal (i.e. the chance to beat any offer from a buyer you find).
- kome 5y agoso basically... there is not a market, and it's a fake stock
- ceejayoz 5y agoNo? If you can find a buyer for a certain amount, you can sell for that amount. The company can just opt to be the buyer.
- xyzzy123 5y agoThis seems like an interesting dynamic because the company has to balance getting a random outside shareholder vs having to buy their own shares back for whatever price you negotiated.
- doktorhladnjak 5y agoCheck your stock agreement. I worked somewhere it didn't just grant first right of refusal, but the company had to _approve any sale_. In practice, they approved almost no sales, so this was a ban on selling shares before IPO.
- deleted 5y ago[deleted]
- devoutsalsa 5y agoOwnership is ownership. Your car isn't listed as a public company on the NYSE, but that doesn't mean your 1 share (worth 100%) in your car is fake.
- IncRnd 5y agoYou do not need a formal market for stock to be stock. A share of stock represents ownership. You are confusing that with publicly traded stock markets.
- kortilla 5y agoPlease look up right of first refusal before posting nonsense like that. It means they have to match the offer or let you sell. It’s exactly like a national best bid guarantee in a real market.
- onphonenow 5y agoROFR devalues your ownership interest significantly in most deals.
- rco8786 5y agoThey’ll have to, if you’re actually transferring ownership of the shares.
- secondarymarket 5y agoTo transfer the stock directly you will need approval from the company/board. I'm curious if anyone has done it without by using a private contract between buyer/seller (google: forward contracts).