Excellent point. But I still have the feeling that simply asking for explanations puts you at risk. Being annoying is a risk. They know that they are not givin

Excellent point. But I still have the feeling that simply asking for explanations puts you at risk. Being annoying is a risk. They know that they are not giving you the information you need to do your own valuation. A common tactic from managers is to maintain ambiguity, only to be resolved later against your interest. Many companies have an established scheme with plausible deniability by design. Even if they explain everything to you, you might not be qualified to understand it. I've seen a founder tell me that I don't have to pay for my stock options to become stock, a mistake that is worth $100K+ and I wouldn't have known that if I didn't speak with a financial advisor. You just can't have the private company information, competence and time to double check everything your management is saying and supposed to do for you. It's just trust in the guy who is in position of power.