Validate if he/she's a good fit for your team first. Usually it takes time. Equity has a permanent effect and you don't want to make a decision in haste.
... seems like this is not so peramanent. Unless I'm misunderstanding something and need some education in this (and if I am, please let me know, as I've had this happen to me on at least one occasion and maybe I'm owed some compensation after all)