[vlokshin]

It sounds like the issues may be deeper than equity.

"The salary is not competitive" hints that you may not be happy with your compensation across the board.

Don't look at equity any different than cash. It's a more complicated asset, as there is less certainty about its future value compared to the dollar -- but at the end of the day it's compensation, just like cash.

If you aren't happy and motivated by your compensation you should negotiate harder or find a new role. Your career and this startup will both be better off for it.