This is new for 2019, and more details will be added here shortly.
We don’t offer stock equity in the company because equity is only valuable when there are near-term (3-5 year) plans to have an exit (either via a sale to another company or via an IPO) and our goal has always been to sustainably grow the company & team over a long period of time, and not to sell or IPO. That said, we like planning for the unexpected, and so in unlikely event that we sell the company or IPO, here’s what would apply:
If SkyVerge is ever sold or part of an IPO, tenured team members (those who have been a team member for 1 year or greater) will be eligible to receive a portion of 5% of the value of the company. In that event, the 5% would be divided into units, based on the number of team members we have at the time. Team members who were part of the company for less than 1 year would receive 0 units, someone who was with the company for 1 year would receive 1 unit, and so on, until you’re fully vested at 5 years for 5 units.