Does the amount of options given change drastically between A and B rounds, given a 2-3x in valuation?
series B Grants are usually a third or a fourth of series A grant sizes
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Yes, because the strike price may change depending on the valuation.
Can you give an example on how this works?
Just a wild example: Series A, company is at 1m valuation and strike price is at 1 cent per stock Employee has option to vest 1000 of these stocks over 4 yrs. After 1 yr, company gets a series B, valued at 10m but strike price is now 1$ per share. The employee gets a refresh of 500 units at that point but this time employee needs to pay $500 over 4 yrs as opposed to $10 over 4 yrs of series A options. After 5 yrs, company goes IPO and each stock is valued at $20. The employee can sell the 1500 stocks at $300,000 (after initially putting in just $510). Again, it all depends on the valuation and stock units available in the pool :) Generally, such information is not made public till the time company is acquired or goes IPO.