I have a friend who is leaving Jet already. Do you think this person's equity vested immediately upon the Walmart acquisition?
Most pre IPO investments I have participated in have full vesting on change of control clauses, so if the deal is done, probably so. There is usually key talent language in the contract to entice key people to stay for 1-2 years. Being identified as key talent on a deal that big puts you in an incredibly good negotiating position.
No, this only happens with double trigger. Change of control plus layoff. Nobody would do single trigger CoC acceleration.
I'm not sure about the specific situation, but I think he could convert his vested equity to WMT shares after he leave. Why he decided to leave if I may?
It's unclear to me... I don't think that the acquisition had been completed so I was wondering if anyone had an idea of typically when the equity vested after an acquisition.