Incentive Stock Option

[Dan264]

Was recently hired by a start-up venture in silicon valley and part of my benefits package included Incentive Stock Options (ISO). As a condition of signing my offer letter, I immediately vested 30% of my options. When I asked for all documentation and paperwork related to exercising my ISO, the employer gave me a "Stock Agreement" that referred to a "Stock Option Agreement". Furthermore, when I asked for the "Stock Option Agreement" so that I could exercise my vested shares, my employer has replied that 1.) he does not have one and 2.) I cannot exercise my options during my employment, though this is not explicitly stated in any agreement or my offer letter.

The last twist in this is that my employer as offered a Stock Option Agreement to other parties, and I have seen this with my own eyes.

Do I have any legal recourse?

Thanks in advance.

 

[army judge]

Was recently hired by a start-up venture in silicon valley and part of my benefits package included Incentive Stock Options (ISO). As a condition of signing my offer letter, I immediately vested 30% of my options. When I asked for all documentation and paperwork related to exercising my ISO, the employer gave me a "Stock Agreement" that referred to a "Stock Option Agreement". Furthermore, when I asked for the "Stock Option Agreement" so that I could exercise my vested shares, my employer has replied that 1.) he does not have one and 2.) I cannot exercise my options during my employment, though this is not explicitly stated in any agreement or my offer letter.

The last twist in this is that my employer as offered a Stock Option Agreement to other parties, and I have seen this with my own eyes.

Do I have any legal recourse?

Thanks in advance.

Be grateful you have employment.

Stock options aren't guarantees of anything.

Time or a condition must pass before the option can be exercised.

Discuss this with a lawyer in your area, if it disturbs you.

 

[Dan264]

Army Judge,

My gratefulness stopped when I exchanged my time and experience for the benefits offered by my employer. So basically your point is moot, but good try.

Thanks for the education on stock option "guarantees", always nice when a moderator points out the obvious on a question I never asked.

And as for "time or a condition", maybe you missed my clearly indicating that 30% of the shares are "vested". But maybe your powers of observation are are best utilized on the post, eh Colonel? But just in case you aren't aware, vesting = time.

"Discuss this with a lawyer"...now that, is just genius advice there "judge"!

Thanks for playing.

 

[army judge]

Army Judge,

My gratefulness stopped when I exchanged my time and experience for the benefits offered by my employer. So basically your point is moot, but good try.

Thanks for the education on stock option "guarantees", always nice when a moderator points out the obvious on a question I never asked.

And as for "time or a condition", maybe you missed my clearly indicating that 30% of the shares are "vested". But maybe your powers of observation are are best utilized on the post, eh Colonel? But just in case you aren't aware, vesting = time.

"Discuss this with a lawyer"...now that, is just genius advice there "judge"!

Thanks for playing.

Here's another, good bye.

Good luck.