This probably isn’t cruxy, but I want to point out that anyone who signed an NDA was an employee (which came with stock options) who got severance (probably more stock options, although I believe some people traded at least some of them for cash). Wave had a partial exit but I believe it still left everyone with illiquid stock. Maybe there are exceptions, but it seems like you should assume by default that a former Wave employee you are talking to has a financial interest in the company, which may affect their reports.
But at least Wave can’t take the stock back. You get paid if Wave does well whether they like you or not. I know of another company that did something weird with options such that they can revoke un(vested? unspent? unsold? I don’t remember the specifics) options at any time. So the company can deliver harsh financial punishment at any time, if they don’t like what you do after you leave.
You get paid if Wave does well whether they like you or not.
Private companies can and do prevent people they don’t like from selling stock to private buyers. So as an addition to this comment, I’d note that “the ability to cash out before an IPO 5+ years in the future” is a strong reason not to make an enemy of your former startup.
This probably isn’t cruxy, but I want to point out that anyone who signed an NDA was an employee (which came with stock options) who got severance (probably more stock options, although I believe some people traded at least some of them for cash). Wave had a partial exit but I believe it still left everyone with illiquid stock. Maybe there are exceptions, but it seems like you should assume by default that a former Wave employee you are talking to has a financial interest in the company, which may affect their reports.
But at least Wave can’t take the stock back. You get paid if Wave does well whether they like you or not. I know of another company that did something weird with options such that they can revoke un(vested? unspent? unsold? I don’t remember the specifics) options at any time. So the company can deliver harsh financial punishment at any time, if they don’t like what you do after you leave.
Private companies can and do prevent people they don’t like from selling stock to private buyers. So as an addition to this comment, I’d note that “the ability to cash out before an IPO 5+ years in the future” is a strong reason not to make an enemy of your former startup.