[twelve40]

If they ever did a 409a, they have to share that information with employees, which at least lets you estimate the current upper bound on the cash value of your options. Sure, very far from money in the bank, but knowing the current upper cash bound can still be used to compare different offers.

[myrandomcomment]

A 409a should be a true measure of the value of a company, but in reality it is something that can be manipulated. There is a balance between valuation for the purposes of funding and raising your stock value so high that it can impact hiring as a function of perceived upside. Getting wrong on the high side can effect the next round, devalue shares issued existing staff causing a repricing or the need to issue more shares to existing staff to keep them around.

[msrsan]

Yup, that makes sense on an individual company basis but - that data is not in the sheet though.