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I don’t think that’s what no equity cliff means if it’s a standard one year cliff then it just means if you’ve worked there for 5 months you get 5 months of eq
by tempsy 4y ago
I don’t think that’s what no equity cliff means
if it’s a standard one year cliff then it just means if you’ve worked there for 5 months you get 5 months of equity whereas you would have gotten zero. it’s not “all the equity”
Also Shopify is -80% ytd so if you were hired the beginning of the year you were expecting a completely different compensation package than you are getting now.
- samsolomon 4y agoYeah, I think this is correct. I've been in a position where the company that hired me couldn't keep paying me and we decided to part ways a few months short of a year. The founder offered me the amount of options that would have vested had there been no cliff.
- ant6n 4y agoIf the strike price for the options is 5x the current stock price (due to 80% drop), I wonder how useful the no-cliff rule is for recent hires.
- renewiltord 4y agoDoes Shopify give out options? I would have thought RSUs considering they've been public a while.
- TimPC 4y agoEven RSUs are converted from a dollar value to a number of shares in the month you join. If you’re getting them a year later with this level of stock decline a $220k/year salary and $220k/year of stock would be $264k of compensation when you were expecting somewhere near $440k. So even with RSUs the pain is real.
- tinjinn 4y agoActually it's much worse. They are doing it quarterly. So if you've worked there for 8 months, you get equity vested in first 6 months only.