Recently got an offer form Waymo. They seem to offer WMUs (which seem like RSU) and Options both of which vest over 4 years. Looking for help with several questions:
1. How are options and WMUs different ? Do I have to pay the company the strike price (out of my base salary) to exercise the options as opposed to WMUs that one gets for free on vest date ?
2. Is the price for options locked closest to day of award or vest or exercise ?
3. Both seem to be valued currently at $11. Is it possible to find out what valuation the company used to come up with this number ? It’s kind of hard to estimate (speculate) the upside without that.
Thanks
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comments
1. Yes. Edit: sort of. They're not actually options, but more like appreciation rights on units. But the concept that they're worth $11 less than a unit if and when there is a liquidity event is true.
2. Award, which is not the day you sign your offer (if you do, lol, man, waymo offers are bad)
3. You might be misunderstanding options. Options are worth at most the underlying. But no, they won't tell you why the unit price is $11, even if you become an employee. They won't even tell you how many shares there are.
If it is based on some valuation process, when/how often does this valuation take place?