Hi, I recently received coinbase offer for staff engineer and was provided with dollar amount for equity. I want to understand when are the number of shares determined for the dollar value? Offer document contains legalese and mentions that board determines the number of shares at award date. It doesn’t mention how award date is determined and how much portion of yearly vest is awarded at a time. I can think of following two options. Can you someone confirm which one is it? 1. All prorated yearly stocks are awarded(granted) on probably same month or next month and average monthly stock price is taken to determine number of stocks which will vest for whole year? 2. Stock value is divided into 4 chunks and each chunk is awarded in the first month of quarter and number of units is determined for only that quarter. I will check with recruiter but wanted to get collective blind wisdom first to prepare better for call with them. YoE: 9 TC : 300k
You get prorated grant for your hire date through next February (say, 7/12 of a year’s grant). In Feb when that grant runs out, you get a full year’s grant.
I understand that. My question is if let’s say I join today and my prorated yearly grant is $100k and $COIN determined value is $50 (dummy numbers for easy math), do I get 2000 shares for whole year with them vesting equally in remaining 3 quarters or: I get $100k/3/50 shares for this quarter and then another $COIN value is taken before next quarter grant. Not sure if the question is still clear
You’d get one conversion price for the whole grant. So if the conversion price were $50, you’d get a set number of stocks up front, and they come available on each vest date.
pretty much have similar set of questions. Found this on blind “The latest policy for conversion price is the closing price on the first open Friday of the month following hire date…”
Can you share the post link? Not able to find it
Check out this post! "Coinbase RSU for April joining (Tech Industry)" https://us.teamblind.com/s/MhBtyegy
The day that is used to determine your annual grant shares is called the conversion date. For any given employee, there is only one “conversion date” per year. If you are an existing employee, it is the first Friday in February. If you are a new hire, it is the first Friday of the next month after you start. So someone starting this week would have their prorated annual grant purchased at the price of the stock based on the first Friday in June. Then for subsequent years, you are on the February date with everyone else.
Thanks. That was the exact answer I was looking for. Are you in Coinbase or got this info from elsewhere?
Starting this month so I’ve gotten all the specific equity documentation.
its based on the value at grant unless something has changed
I’m sorry but how did you get a Staff Eng offer if you can’t read an offer letter? It’s explained fairly plainly. With a table and examples.
Hey, I saw that your visa transfer in progress. But why wait till June end? Isnt it premium processing?
How does Coinbase calculate initial grant vest price?
Kind of. Basically, after looking at the bleeding today, I want to make sure that hypothetically, if I join today, will my whole year’s grant be determined at this value or only this quarter’s.