So, I joined a startup 1,5 years ago. 2 non technical founders, a half baked product with no revenue at all, built with a freelancer. Joined remotely from a EU country, as a contractor with shit money and 10% equity in options. Fast forward to today, we got seed funding, are 17 people, and the founders want to take 4 points out of my 10 points to extend the options pool. They are each giving 4 points as well. The issue is, that in my situation 4 points represents 40 percent of my options, whereas in their case more like 10% of theirs. Talking undiluted percentages here.
I don't know what to fucking do. I'm "c level", but I'm feeling helpless. Also, we've set up an office here, and hired some people, so quitting and leaving feels like a bad option.
Also related question. I'm thinking of exercising my existing vested shares as soon as possible, but I'm not aware of possible legalities. Startup is US based, I'm EU based.
Experience + feedback much appreciated.
I don't know what to fucking do. I'm "c level", but I'm feeling helpless. Also, we've set up an office here, and hired some people, so quitting and leaving feels like a bad option.
Also related question. I'm thinking of exercising my existing vested shares as soon as possible, but I'm not aware of possible legalities. Startup is US based, I'm EU based.
Experience + feedback much appreciated.