Question
About two years ago I joined a startup, in the offer letter they promised me a small percentage of equity vesting with a 12 months cliff and monthly afterwards.
I have never seen any additional paperwork for this. Every time I ask they say it's in the cap table and automatic so I have it. Are these red flags? Am I maybe being tricked here into accepting my below market salary?
Answers: 1 public & 0 private
Paperwork is the formalism of the offer so after 12 months you should be at least provided with voting papers and articles of association. As shareholder you have certain statutory legal rights including inspecting the registry. As for accepting below market rates or not, as adult, it is up to you to do the due diligence or hire a lawyer to fully understand the risk-reward payoff.
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