Vesting and Cliff
The schedule on which founders and employees earn their shares or options: commonly four years, with a one-year cliff before any of it vests and monthly thereafter. Investors insist founders re-vest at a priced round so a departing co-founder does not leave with a quarter of the company. Acceleration on a sale, single or double trigger, is the term to read closely.
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Browse the full glossary — 263 finance recruiting and technical terms, in plain English.