Co-Founder and CEO at ComicBlitz LLC
Had a talk with my CTO & Co-Founder the other night. He currently has a 22.5% equity share in the company. I am around 60%, depending on how much we set aside for future employees. He doesn’t want an even split, but something to bring the two shares closer together. In all fairness, I’ve always thought I’ve gotten him for a steal, and now it seems, he realizes it too.
We already discussed that if we do raise his equity, that it is a 1 time thing. And that the two stakes together = 1 Board vote, with ME always having the final say.
We of course already have a signed agreement for his current equity, but at the same time, I know that if I don’t budge, I won’t be getting the same productive, happy partner I have now. It’d be a resentful, bitter partner.
So, the questions are, how much more do I give him? And, HOW do I give it to him? My initial thought is to tack it onto the END of his 4 year standard vesting period, like a 5th year, which protects me the longest, if we were to actually split for any reason. Open to any advice here. Not sure this is a standard thing by any means.
Thanks in advance!