We just incorporated and are now bringing on board an advisor. We want to give him %1. Our company consists of me and two co-founders, each with 1 million shares. Our total authorized shares are 5 million.
Now do we have to give him shares from our own allocations, or do we issue new ones to him? In the first scenario, we give him 10k shares each and we're all good. In the second scenario, we technically need to give him 30303.03030... shares total. In that case, how do I deal with this issue? The document asks for both percentage and number of shares, so I'm not sure if I can just put down 1% and 30303 shares if they're not exact equivalents.
If it makes any difference, we're using the FAST document, are based in California, but registered in Delaware.
Thanks in advance for the help.