If you thought the original deal was unfair, you shouldn't have signed.
If you thought the original deal was unfair, you shouldn't have signed.
Presumably he knows the lay of the land, and is someone that they would not want to lose--there may be a significant cost associated with losing him. That said, his leverage is way lower now that the work has been done.
In truth, I don't know what fair is, because I don't see the whole picture: who else will get equity in the future, what does the option pool look like, etc.?
You can't re-price risk after it has been fully assumed and if I was one of your colleagues I would be pissed off at your attempting to re-negotiate a previous agreement. You seem to believe your co-workers have an obligation to see you get a certain level of compensation and that your equity stake should grow or shrink depending on that compensation. That is the attitude of an employee not an owner.