Why do we have an Equity Refresh Program?

At Sourcegraph, we believe that our teammates are our most valuable asset. As part of our commitment to attracting and retaining top talent, we offer an equity refresh program that rewards teammates who meet or exceed our performance expectations.

Our equity refresh program is designed to provide ongoing incentives for top performers to stay with the company and continue to contribute to our success. We believe in Sourcegraph’s future success, and by offering annual equity grants to existing teammates, we aim to create a sense of ownership and alignment between our teammates and the company. When Sourcegraph wins, we all win.

Eligibility

All full-time teammates who meet or exceed our “high bar” performance expectations will be eligible for participation in the equity refresh program. We reward teammates who meet or exceed our “high bar” because we believe in recognizing and rewarding exceptional contributions. This approach helps to motivate and retain our most valuable employees, while also creating a culture of high performance.

FY25 Impact Review Eligibility:

To be eligible, you must meet the following criteria:

• Performance: teammates must receive an impact review rating of 1, 2 or 3 during both the 1H and 2H impact review cycles. Teammates who got a 4 or 5 Rating in either, or both, the 1H and 2H review cycles are not eligible for an equity refresh grant.
• Tenure: you must have been with the company for 8+ months to be eligible.
• Hours worked: you must work full-time.

FY26 Impact Review Eligibility:

To be eligible, you must meet the following criteria:

• Performance: teammates must receive an impact review rating of 1, 2 or 3 in the most recent Impact Review period. Teammates who got a 4 or 5 Rating, are not eligible for an equity refresh grant.
• Tenure: you must have been with the company for 8+ months to be eligible.
• Hours worked: you must work full-time.

When does the equity refresh take place?

Sourcegraph’s equity refresh program takes place annually in alignment with the 1H Impact Review cycle, which occurs in the first quarter of each fiscal year. The decision to grant equity awards annually was made to provide ongoing incentives for top performers and valued members of the team.

How is the equity refresh grant size determined?

Equity grant sizes are determined based on level and performance rating, as outlined in the chart below. We believe the below grant sizes are generous and are aimed to create a long-term incentive for valued teammates to stay with the company and contribute to our growth and success.

To determine the grant size, we use the past 12-month Impact Review score average. The past 12-month average is used to account for any fluctuations in performance or level over time, and to provide a fair and consistent method for determining grant sizes. If you don’t have 12-months of performance that has been scored in Impact Review, we will default to your performance score from the 1H review cycle.