...
Senior Software Engineer
Joined MOSTLY AI in 2021 (pre-Series B)
PSOP allocation July 1st, 2022: 32,000 shares (worth ~ 38,000 EUR)
Leaves MOSTLY AI June 30th, 2024, vested shares: 16,000 (2 years)
Would need to decide by December 31st,2024, whether would like to execute the options
If yes, would need to pay for 50% of shares (8,000 x 0.89 3 EUR) = 724,128 000 EUR – Activation payment
The strike price of the remaining 50% of shares would be deducted from an exit event payment
E.g., exit with a price per share of 10 EUR
Payment: 16,000 x 10 30 EUR = 160480,000 EUR
Minus: 8,000 x 0.89 3 EUR = 724,128 000 EUR (remaining 50% strike price)
Payout ~ 153456,000 EUR (taxed taxes to be deducted from that)
...
TL;DR
A recording of the presentation/call is available here.