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by tptacek 4354 days ago
You never know, and IANAL, but the acceleration clause in your agreement probably does not automatically vest the shares of people not currently employed by the company at the time of the sale.

Do you have options or shares? If options: did you execute? If you didn't, you may have problems.
1 comments
ktavera 4354 days ago
Just shares, no mention of options. Yeah if it were options i'd see an issue with not exercising before the liquidity event.
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tptacek 4354 days ago
Issuing shares directly to employees is kind of uncommon. Do your shares have a buyback on them?

I'm not clear why you think you might have a claim on all 5000 shares. Can you be a little clearer about this? You didn't really share a timeline of your employment, so it's hard to reason this out from first principles.

Assume you get all 5000 shares. How much is that going to be worth? Low/mid/hi-how-many-figures?

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ktavera 4354 days ago
Because the contract stated that upon employment there would be a grant of 5000 shares that would vest annually or in a liquidity event would vest immediately, with no mention of forfeiture. Valuation is hard to determine since the former CEO is non-responsive, all I know is others with the same equity position received significant payouts.
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tptacek 4354 days ago
You never know, you could have the world's most poorly written stock vesting contract, but it seems very unlikely that their vesting scheme was designed so that vesting didn't matter in the one case where vesting actually does matter. You don't need a "forfeiture" clause for vesting to have teeth. You'd probably need to share more of the details for us to noodle around any further with this.

(If you've got any kind of confidentiality agreement with your former employer, don't share details.)

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rahimnathwani 4354 days ago
So the employment contract says that the company would grant you shares, and that these shares would be subject to vesting? But the company never actually issued those shares? So, when you left the company, the only paperwork you had about those shares was the employment agreement?

If so, it sounds like you don't own the shares, but the company owes you the shares. The fact of whether or not you own the shares should be easy to determine. The part that's harder (and requires analysis of what you signed) is whether or not the company paid you what you were owed during the period of your employment (including, if applicable, shares).

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