Hi all. I just received an offer for $130k and will be eligible for about 29,000 shares of stock options. The vesting schedule is 1 year and then quarterly thereafter.

Can someone explain what this means? I “will be eligible”. So, I have to buy the shares? Should I be asking at what price?

Newbie here. Please help!

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Yes, once you vest you can exercise your options to buy stock at a previously specified price. The price should be part of your contract. If the stock price goes up by the time you vest then you’ll be able to purchase at the lower price.

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Can I ask a follow on question? I have shares to vest on 6/1 that I am prepared to buy. Do I have to be employed for a period of time after 6/1? How to I physically make a payment and to whom? I know I have an agreement somewhere just not sure how it all works. I'm looking to quit my job so want to make sure there are no loopholes

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Thanks. I would be an employee when they vest.

Yes you will be able to purchase them at a “strike price” which should be specified in your contract. so if the strike price is $1 you can buy all of them for $29,000 even if the stock value is say $10 and you could then sell them for $290,000.

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