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> In some companies, the initial job contracts are misleading, and mention a nominal price of $0.01. Is he suggesting that the initial job contract does _not_
by hbrav 2y ago
> In some companies, the initial job contracts are misleading, and mention a nominal price of $0.01.
Is he suggesting that the initial job contract does _not_ state the exercise price, and relies on the employee mistakenly thinking that $0.01 is the exercise price?
This seems like it stems for a culture that we have of employees (or potential employees) just never asking questions about contracts that are presented to them. And I think there's a lot of employers that expect that to be the case too. I've once had a manager tell me with a straight face when I requested changes to a contract "I'm sorry, I can't get this changed. You'll just have to sign it." My reply of "I don't believe it's in my interests to sign that" was not something that was in his world-view.
- bionsystem 2y agoCould be a misread of certain 10K which state a par value of $0.01, which has no particular meaning at any point in time of the life of a company (it's just a convention).