Trying to evaluate an offer from Cruise. Is it possible to sell Cruise stock on private equity marketplaces like EquityZen? If so, are there any caveats to selling there?
RSUs are usually double trigger, which is a no. Options these days can usually be sold on Carta if the company allows it.
Leadership is working on ensuring that RSUs have liquidity and upside.
Cruise RSUs have a double trigger - first is time based (ie 1 year cliff, vesting quarterly after), but the second is on a liquidity event. As a result, your shares wonāt actually vest right away, so you canāt sell them on third party markets, but you also donāt pay taxes on them (until they vest in the liquidity event). Thereās some sort of ānew equity planā coming by end of Q1, but details are sparse right now, other than promises of āupside & liquidity at a fair priceā as other posters have alluded to.
If you can hold off wait until after q1 to join when we know what the liquidity will be like. Also, one thing I wish I understood before joining, GM runs the show. Cruise is basically a GM skunkworks. What that means for the future, who knows.
Did you survive in Amazon ? You wonāt in cruise
Why is that? What is your experience?
You work for cruise so you should know what Iām talking about
Itās not possible to sell right now. I donāt know about the future. Last year we had an event in which shares were offered to be bought back at FMV (but only 50% I think).
Why is that not a possibility to sell in private secondary market? Is that because of the double trigger clause?
Why? do you not believe in cruise future?
It doesn't seem that an IPO is in their plans. If you didn't hear, their CEO was dismissed recently for pushing for an IPO (among other reasons). Also liquidating shares doesn't mean I don't believe in their future. It simply means I'd like the freedom to use my compensation however I wish.