zlacker

> agreements that block employees from selling (private) vested equity are a market term

They threatened to block the employee who pushed back on the non-disparagement from participating in tender offers, while allowing other employees to sell their equity (which is what the tender offers are for). This is not a "market term".

>>comp_t+(OP)
Sure. Selectively preventing sales isn't. But it's not uncommon to have blanket prohibitions. You're right, though.

>>tptace+58
Yeah, my impression is that a lot of non-public startups have "secondary market transactions allowed with board approval" clauses, but many of them just default-deny those requests and never have coordinated tender offers pre-IPO.