Investir ou non dans des actions de co-fondateur ?
Bel article synthétique d’Ian Jeffrey sur la question suivante (question que se posent les jeunes entrepreneurs de start up) : « To vest or not to vest cofounder shares ».
It’s common knowledge that employees must vest their stock options over time.
When I first got started in the startup world over 10 years ago, vesting schedules were typically 48 months on a 12 month cliff. A cliff is a stipulation dictating that if someone leaves the company before a pre-determined length of time (in this example 12 months), the leaving person loses 100 per cent of their equity. (For those of you who don’t know the mechanics of vesting, I wrote about it here a year ago.)
More recently, 36 month vesting on a six-month cliff seems to be more and more common. That’s no doubt a good thing for employees.
Employee stock options and vesting are topics that come up all the time when I meet with founders, but they’re always surprised when I ask them about their founder shares’ vesting schedule.
À la prochaine…
Ivan Tchotourian