Based on not having done so myself in my younger days, I would absolutely require it (in regards to a closely held corporation).
It is not uncommon for the stockholder agreement of a closely held company to require the sale of shares back to the company upon an employee's departure or to prevent the sale of shares to a person of the employee's choosing.
In particular for your case, the agreement will tell you whether the company is obligated to loan you money in order that you may exercise your options so that the stock may be resold back to the company.
The more I have thought about it, the more this looks like a discretionary bonus not really an investment opportunity. The amount of money entailed to exercise your options and retain the stock is just too high - these are option grants which are vesting not stock grants. If at the end of the first year the company doesn't loan you money to exercise your options, there's no value for you unless you have $150k in cash handy.
I would add that 7500 shares is going to require a ten billion dollar exit to give you "fuck you" money (assuming no dilution or liquidity preference). Again it's probably best to ignore the stock as a form of compensation.
[edit] Any resistance to giving you the stockholder paperwork while you are considering the offer is, in my opinion, a red flag.
It is not uncommon for the stockholder agreement of a closely held company to require the sale of shares back to the company upon an employee's departure or to prevent the sale of shares to a person of the employee's choosing.
In particular for your case, the agreement will tell you whether the company is obligated to loan you money in order that you may exercise your options so that the stock may be resold back to the company.
The more I have thought about it, the more this looks like a discretionary bonus not really an investment opportunity. The amount of money entailed to exercise your options and retain the stock is just too high - these are option grants which are vesting not stock grants. If at the end of the first year the company doesn't loan you money to exercise your options, there's no value for you unless you have $150k in cash handy.
I would add that 7500 shares is going to require a ten billion dollar exit to give you "fuck you" money (assuming no dilution or liquidity preference). Again it's probably best to ignore the stock as a form of compensation.
[edit] Any resistance to giving you the stockholder paperwork while you are considering the offer is, in my opinion, a red flag.