Startup people - can the strike price of your options change? Let’s say I sign today, but then have to start a few months later because of a personal emergency- can the strike price change and dilute your value? How often does this happen / what magnitude? Thank you!

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Strike price of granted options is usually decided by the Board (quarterly). If the company does not revise their 409a valuation between the two dates the strike price would be the same. If they are going through a fund raising process, very likely the internal valuation is changing.

Source: strike price went up by $0.20 between signing offer and board meeting. Got pissed off but turns out they were raising a round at 6x valuation. So, a minor price to pay 😊

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Usually only changes with each funding round

Thank you both! Can the 409a valuation change even if there is no funding round? Ie - share price changes without another round of funding?

409a/FMV can change any time there is a material event, which can include legal issues, financial outlook, and approaching IPO

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