Founder stock

Founder stock planning starts before the first real liquidity event.

Founder stock planning means mapping what you own, what can actually be sold, who must approve it, what remains concentrated, and what personal goals the first dollars need to fund.

Inventory the position

• Current ownership on a fully diluted and as-converted basis.
• Vesting, repurchase rights, transfer restrictions, ROFR, co-sale, and board approval requirements.
• Expected dilution from new rounds, option pool changes, debt, or strategic financing.
• Potential liquidity paths: tender, secondary, acquisition, IPO, dividend, or no near-term exit.

Define the first liquidity job

The first founder sale should have a job: personal runway, home purchase, debt payoff, diversification, family support, philanthropy, or a reserve that lets you keep building without all personal risk tied to the company.

Next, review secondary sale planning and the founder liquidity checklist.