I've been working for large private software company (the last round of investment was very, very large) and my offer letter told me I would receive X number of options as long as the board approved it.
It's been a year and I've been stonewalled on the option plan, strike price, any information and also haven't been told how to exercise my options (assuming a 1 year cliff).
I've sent multiple emails to HR and the controller, culminating with an email to the CFO (forwarded the same email multiple times to show the amount of months that no one has answered me). HR has gotten back to me and told me everything they could and seem like they want it resolved, but their hands are tied.
Has anyone seen this behavior before? Since I've been ignored, I don't even know if the board approved my grant. If they have approved my grant, I'm really pissed that they've effectively blocked me from exercising.
Can I send a letter and a check to the CFO with $100 to force the issue of exercising some amount of shares and determining the strike price that way?
I left this position soon afterwards, but what I pieced together from (2nd hand) rumors and my own speculation is the idea that the executives that were brought in with the additional influx of a massive round of funding, don't want to assign a value to the options because I think they got a very high appraisal when getting that funding. I don't understand how they will be able to get a lower appraisal by waiting (since they are doing very well).
I came to this conclusion because some senior leadership told me they are in the same boat and aren't able to exercise their options. It will be interesting if any senior leadership decides to leave and can't get their equity.