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I was hired onto a startup that is backed by a very very wealthy family. I was given 10,000 phantom shares in two companies with no vesting period. One is generating modest revenue the other is already set up to do over 30mil the first year and the family has a track record for building fast growing profitable organizations that they sell for 9 figures and have done so 4 times in 20 years.

So we are parting ways at this point and I wanted to know if these share are still mine and if I hold on to the contract what claim to I have to the proceeds a few years from now?

Thanks in advance!

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It would be a very rare situation where phantom stock does not have a vesting agreement or performance metric tied to it. If I were you, I would consult a lawyer before making any decisions. Phantom stock falls outside of a lot of the SEC regulations because it is basically a wrapper for a deferred compensation plan. You really need qualified legal advice, more so than you will get here.

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