Compensation

Confusion in Uber offer for Refresher grants

Apple HotCookie
6d

I got an offer from Uber and they stated 105k annual refresher grant.
The title of the cell in the offer states: “Target discretionary equity refresh”.
And 105k is mentioned in the column under “Annual Target value”.

My understanding is that this means that every year, I would get an equity refresh of 420k, with 105k of it vesting every year.
Is this what you guys understand too?

Other recruiters of different companies told me this was impossible and too high.

Can anyone who just got an offer shed some light on this please?

I of course contacted my Uber recruiter to get some clarification. But I still haven’t heard back and other companies are starting to pressure me to make a decision. Figured I’d ask the community here parallel.

Thanks!

comments

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  • You’re confused because they’re fucking you. Uber offers are notoriously riddled with lies and misgivings.
    6d6
    • Apple HotCookie
      OP
      Interesting you say that. It aligns with what the Dropbox recruiter said
      6d
    • Uber Hdn
      How so @Microsoft? Can you give an example?
      6d
    • Lots of hand waving about stock. They use weird language, basically tricking you into thinking you’ll have a certain comp, but it’s all “estimates” and none of it is as it seems.

      I found Uber very untrustworthy.
      6d
    • Uber Jhdgffs
      Reject spotted! OP, ignore the noise and talk to people who work at Uber. Dropbox recruiter is just trying to get you to join them instead.
      6d
    • Uber Hdn
      Hasn’t been my experience. Recruiter was explicit about compensation details. If he lied, I haven’t noticed yet.
      6d
    • Uber eastworld
      I found you are on fire lately Microsoft. Calm down keep your shit together, and do what principal SDE should do there.
      2d
  • Yahoo Thunder!
    You should probably ask your Uber recruiter for clarification first before asking outside recruiters?
    6d5
    • Apple HotCookie
      OP
      I will update my post. Meant to say I did and they aren’t getting back to me. And time is ticking to finalize my decision.
      6d
    • Google FYlH08
      No, it's 105k granted every year you doofus. Yes it means you get 105/3 vesting every year, but after 3 years you'll have three such grants stacked up so you'll vest 105k every year which exactly matches your target yearly amount.
      6d
    • Uber Jhdgffs
      At Uber refreshers vest over 3 not 4 years
      6d
    • Google FYlH08
      Ok, updated. But why 3 instead of industry Norm of 4? Something special about the number 3?
      6d
    • Uber / EngWhoober
      Most pre ipo startups go for 3 year vesting for refreshers - that way per year refresh looks high, while they issue less stock units upfront!
      6d
  • You will get 105k every year which will vest in 3/4 years. So if you keep on getting 105k every year, your TC will keep on increasing by 26k per year.
    6d2
  • Uber Hdn
    You should talk to the recruiter to make sure you’re on the same page on the schedule, the minimum amount guaranteed per year, prorated, etc.

    But the offer usually is $105k worth of RSU granted every year, and they vest monthly over 3 years (so you get 1/36 worth every month). To determine how many RSU get, they base it on the market price (and I assume 409a valuation before IPO).
    So for the first year, you’d get $105k/3=$35k worth of RSU vested. The second year, you’d get another grant of $105k worth (potentially different number of RSU if stock price changes), so you’d get $35k from the first year’s grant, and $35k from second year’s grant for a total of $70k. For the third year, you’d get another grant so 35+35+35=$105k. For the fourth year, you will only have three grants (second, third, and fourth year grants) active since the first year’s has been paid out, so you’d get 35+35+35=105k again.

    As mentioned, this is assuming price stays the same. If stock price goes up in second year, the RSU from first year grant will be worth more than $35k. The number of RSU is fixed and decided a bit before grant time.
    6d1
    • Uber BLKH61
      Correct, except that last portion. If the value changes your stock unit might go up and down but the amount remains the same. 105k/yr
      2d
  • Uber
    Meyerhofer

    Uber

    PRE
    Google, Facebook
    Meyerhofermore
    105k annual refresher target means that you “may” get up to 100k in refresher grant. Vesting is every month on refresher for 3 years.

    The initial grant ( which you have not mentioned) vests over 4 years with 1 year cliff
    6d4
    • Apple HotCookie
      OP
      Thank you! They never told me anything regarding the 3 years. I assumed it was 4 also given the initial grant that is straightforward enough to not mention it

      So what is really confusing me is that the table states:

      105k under Annual Target Value
      210k under 4Yr Target value
      With a foot print for the second one saying:

      “Represents 50% of vestes earnings realized over a four year period”

      This was screwing my brain to be honest.
      6d
    • Uber Jhdgffs
      Why don’t you just ask the recruiter for clarity?
      6d
    • Apple HotCookie
      OP
      Waiting for them to respond
      6d
    • Uber Hdn
      I had the same question about the offer letter. The chart is confusing - my answer above is accurate. Talk with your recruiter when you can to clarify as well.
      6d
  • VMware BobbleHat
    Why would you expect to get 400k refresher? That’s like automatic 600-800k tc depending on starting grant, lol
    6d2
    • A $400k refresher is not an automatic $800k TC until year 4. That’s a long time away.
      6d
    • VMware BobbleHat
      Of course
      6d
  • Square
    Thank yoÿ

    Square

    PRE
    Facebook, Google
    Thank yoÿmore
    It’s 105 vesting over 3 years. So $35k / year.
    6d0
  • Yahoo bruh.
    I recently got an offer and was extremely confused too. I clarified with my recruiter: Your 210k will vest over 4 yrs with 1 year cliff. 105k is your target refresher at the end of your first year. This will vest over the next 3 years with no cliff.
    6d3
    • Uber yshard75
      If you are from Google or Facebook, the offer is not confused. The structure of offer is quite similar to some major companies with refresh.
      4d
    • Yahoo bruh.
      It’s not about the company. My recruiter told me my equity refresh would start vesting my first day and all of it would vest the same year. That made my TC look a lot higher than I was. After three clarifications and escalation to a manager, I was able to confirm that neither of those were true.
      4d
    • Uber yshard75
      Refresh will be vesting the first day that you receive refresh
      4d
  • Uber yshard75
    I think you have very greedy interpretation.
    4d1
    • Apple HotCookie
      OP
      Glad to know you actually think. I had doubts
      4d
  • Apple HotCookie
    OP
    I have clarified everything with the recruiter. She totally was misleading. The (way) above post from @hdn is pretty accurate.

    Thank you everyone!
    4d0
  • Sapient Razorfish / MktgGjSv57
    How did you approach Uber, how did you get an interview? Best way tips?
    6d0

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