[p4wnc6]

Yes, that's correct. The point is that your employer gets to be alerted to this -- not that they could block you or something.

If you're happy to sell the shares and work somewhere else, then there's no real problem either way. But if you actually like your job and you just simply prefer to realize a cash distribution from the compensation you earned in the form of equity, and your employer would disapprove of you having this preference, it can be a tricky situation.

[scurvy]

They can definitely block you. Right of first refusal clauses make no mention of timeliness. You notify your company that you found a buyer and they just ignore it. Supposedly this is very common with Uber. Only the selected cool kids and favorites get to sell.

I work for a YC company and wanted to sell some shares. EquityZen said it would be easier to sell if I didn't work there any longer, because suing your employer isn't fun. A lawsuit was going to be the easiest way forward.

Also take into account that investors only buy the big name hype companies right now. They're not buying anything small but with good fundamentals. Why? Because they don't get to see the books and why should they trust anyone at their word? But hype? Hype sells. This is the last time I work at a small, but slightly profitable startup that just drifts along. It can't go public and we can't sell. Except the founders who sold at series A.