On my offer letter, i just noticed it says "We will recommend to Robinhood’s Board of Directors (the “Board”) that you be granted XXX restricted stock units for Robinhood’s Common Stock". Why does it say "will recommend"? It says "will receive" when it discusses the signing bonus. Does this mean that the RSU share number can still change between when I signed the offer and when I actually begin? Or is this standard corporate legal language? I'm concerned because I received the offer when the valuation was still 11B and would be really upset if the offer turned out to be at 26B. Previous TC: ~240K RH offer: 295K at 11B 2 yoe
BOD are the ones that approve equity grants. It's just a formalized thing. They pass your name to them as all the other 1000s of employees.
Do you know when they make the decision? Or is it more of a formality for low level employees?
Probably up to a a quarter from the day you joined, since BOD usually meets each quarter. Be also aware that usually options vest with a 1 year cliff,.meaning you'll not see the options until first anniversary. But, if a company IPOs, management accelerates some or all options for employees.
Very good question. You might want to see your own lawyer given the potential value of this.
It is standard in majority of the contracts for pre-ipo companies. So far in my experience they end up granting the shares/options as described in the contract.
I see, that is good to hear. Do you know when typically the board decision is made? Since I'm starting after the valuation change, can they use that as justification to lower it to the FMV?
It depends on the company, I am not sure what they can do or not. In practice I don’t know a single person that had issues with this. You can ask your recruiter and they will provide more information on when the shares are granted. You can also check with a lawyer if you are worry but in my experience is unlikely that the company ( Robin Hood ) will modify this part of the contract.
Hi, I’m in the same situation. Get the offer on 12b and will join in May. Kinda concerned about this. Can you please update when you hear back from HR?
Can you please share the robinhood offer details and level?
Could you please share the offer details
Ah, same boat.
If your options are not granted yet, they will grant at the new valuation...
It’s not option. It’s rsu
Wow more than doubled your equity before joining! What level and TC?
Fingers crossed 🤞
If they reduce RSU number, go missing during first day of work, and keep their laptop. 🤪
i like your idea google
Something tells me that you don’t win in this scenario (theft of company property)
I think I noticed the exact same language in my Apple offer.
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