Left the company 8 months ago but if I could sell everything right now (which I would) I could be getting 3-4M pre-tax money.
However my board is rather inflexible and won't allow any secondary sale, even though I went ahead and found many buyers and even got into sale contracts...
So I am pretty much sitting on paper money until the market crash and I get screwed along with the other employees while the founders were able to sell anytime :)
Curious to hear your process when discussing with the Board and how you sourced buyers for your shares. Are you on the board? Were the buyers personal relationships?
Has the company recently received outside investment?
I mainly found buyers from inbound emails and via SharesPost, EquityZen and Equidate (Forge).
I am not on the board.
The way I approached this, was to be upfront with the potential buyers and letting them know that the board is not allowing any transaction as far as I know.
Then we would draft a contract with their broker team and I would be sending it to my previous company's general counsel or CEO.
Each time it was received and responded to with "We do not authorize any transactions for now. Thanks, bye" which was very frustrating.
No recent outside investment AFAIK.
Hi there, at the ESO Fund we can get you liquidity without a full transfer! Feel free to reach out at https://www.esofund.com
I don't want to get into some funky forward contract and would prefer to do it with the consent of my board. But if the problem persist I will likely be interested in the future.