Anyone from KeepTruckin here? Got an offer, but the recruiter won't reveal much about the options. What was the most recent 409a valuation for the shares?
Being secretive about equity information is a very big red flag.
I have talked to several start-ups (both big and small) and most of them actually haven't revealed too much equity info. I think also, for most cases, the options are approved by the board of directors at the next board meeting after you start so the strike price could change by then, as well.
Yes they cannot tell what the strike price will be when your stocks are granted but they should be able to tell you what the strike price for the most recent grants were, and also the fmv = last 409a. Also they should be transparency about the % of equity your offer represents. If they don't that's a blood red flag, walk away.
How was the interview process and what was the offer if you don’t mind sharing
A cousin is offered a job and has been offered 15k RSUs. 12+ yoe. Fair?
They won't tell you strike price/preferred share price? How do they expect you to value equity?
How do I value the equity once I have that information? Would it be value = (preferred - strike)*(number of shares)?
Yep. Just know that it's not very comparable to common stock since preferred shares have protections for the investment. Preferred shares converts to common shares during IPO generally.