[nemanja]

That is the upper bound that is generally much higher than the fully diluted count, so not a good proxy. However, it would be a fair assumption on your part since you are not given the right level of transparency. At any rate, probably best to be firm about the ask and just walk away if you dont get it, since it is not a good sign for things to come. Unless, of course, you would be okay to work there if they dont disclose you a salary (salary? dont worry about it...)

[rdl]

Is it an absolute upper bound? Is there a legal prohibition against creating derivative instruments (options, contracts secured by issuance of stock, etc.) in excess of authorized-at-time-of-execution?

[nemanja]

in practice, it is set very high to cover all conversions and future capital needs and then some. however, it can be increased if needed, with a sharedholder vote.