[bps4484]

To me this all depends on how it's implemented but you're right to be suspicious.

If all they do is give you 1/4 of the equity they were going to give you previously, then yes it drastically reduces employee upside to the benefit of others (execs, investors).

But they probably can't do that because it would be harder for them to attract talent against a 4 year vest company. Instead they'll probably have to bump up that initial grant so that when employees do the math there is still the big upside if the company improves.

[pc86]

I'm suspicious of this as well, but would this be better for a lot of employees? Go to Coinbase, get your 25% stock in 25% of the time, then "just" go somewhere else and get more. It's not unheard to return to a company later (Coinbase in this case) and get a better title, additional grant, etc.