My understanding is startups try to minimize 409A value as much as possible while staying within IRS rules. The market value of options, if it were possible to

My understanding is startups try to minimize 409A value as much as possible while staying within IRS rules. The market value of options, if it were possible to sell them on the open market, would be higher. I don’t know what the equivalent concept is in EU countries (or if there even is one).