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On the flip side, I've seen insane (from a US standpoint) rules on vesting at UK startups, like "the company gets all your options back if you leave." Don't kn
by jbellis 14y ago
On the flip side, I've seen insane (from a US standpoint) rules on vesting at UK startups, like "the company gets all your options back if you leave."
Don't know if this is SOP or not.
- hkmurakami 14y agoI can't name the company, but this isn't limited to the UK. It's found in other countries too. Maybe there's too much history/tradition/peer-pressure/competition in the States for this kind of arrangement to fly. I'd immediately bolt for the door if someone demanded such a structure on me.
- marvin 14y agoSmaller Norwegian companies which offer shares to employees often have a "if you quit within 5 years, the company is allowed to buy all your shares back at the price they were when you received them" clause, or something similar. Obviously you'll only get sub-par or naïve people with such a policy.
- runarb 14y agoYou will probably find that some companies tries that regardless of where they are located. I doubt it is unique for any specific country.
- hkmurakami 14y agoimo I assign ownership of such policies to the founder(s) specifically rather than the nebulous concept of "companies".
- marvin 14y agoGood point.
- walshemj 14y agoDepends on the scheme. I was even allowed to vest mine early when I left BT and latterly Reed Elsevier - I even get to pump another 6 months into the Elsevier one. My options at 4.10 REL is currently 7.65 What you don't get is the insane tax liability on worthless shares which the USA has. In the UK you only pay tax on a gain -after subtracting your Capital Gains allowance