Hey all,
I'm pretty anxious about this. I recently left a startup on good terms and had gained (vested) approximately 1.4% of common equity ownership before leaving. Since I trusted the Founder and CEO, I figured that I would be fine in terms of not getting screwed over.
The extent of my startup knowledge comes down to, "4 years vesting schedule with a one year cliff." I actually have no idea how that vested equity is formalized. I know there's something called a cap (capitalization) table which contains all share holders?
He says that there's legal expenses involved and so he'll add me when they have their next round of funding in 6 months.
I'm super nervous about this whole thing. I took a huge market salary cut for the equity and now I don't want to lose it. Can someone please offer me some guidance in this area?
Is it really super expensive from a legal point of view to formalize my vested common equity ownership?? Or is he exaggerating this to stall me?
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