Sourcegraph options

Sourcegraph currently only provides equity to teammates in the form of options.

By default, all option grants vest monthly over four years with a 1-year cliff. This means that 25% of your grant will vest on the 1-year anniversary of the vesting start date, and the remaining 75% vest in equal (1/48th of the total) amounts on a monthly basis.

US employees receive incentive stock options (ISOs) to the maximum degree possible, while all other teammates receive non-qualified (or non-statutory) stock options (NSOs). The reason is that ISOs are a creation of the US tax system and available only to employees.

All option holders have the right to early exercise their options in Carta. This gives you the ability to pay to exercise options before they have vested, which can provide certain tax benefits in certain locations. Speak to your own financial and/or tax advisors to understand the implications.

Speak to your own advisor

Sourcegraph cannot make recommendations or provide advice related to your option grants. Please speak to your own financial and/or tax advisors!

FAQ

When and where do I get my Carta invite?

Carta houses your equity plan. Carta invites go out once per quarter to your personal email after the board of directors has approved option grants in the latest board meeting. The invites take our lawyers 1–3 weeks after the board meeting to process. Board meetings are typically held 3-4 weeks after fiscal quarter end.

What if my options in Carta are incorrect (such as I have the wrong number of options or the wrong type of options)?

Email our Carta admin and cc your legal POC or [email protected], depending on the sensitivity of your question.

Is there any weird tax stuff for [me|non-US teammates|contractors|part-time teammates|etc.]?

Unfortunately, we cannot legally provide personal financial or tax advice. Please speak to your own tax advisor.

If I am leaving Sourcegraph, does my equity stop vesting when I give notice, or on my last day?

On your last day.

If I have ISOs, do I need to exercise them within a certain time period after I leave Sourcegraph?

If you are a U.S. employee with vested-but-not-exercised ISOs, yes. You must exercise vested ISOs within each grant’s Post-Termination Exercise Period (PTEP). If you have multiple option grants, the PTEPs may not all be the same. The PTEP for each option grant is reflected in Carta.

How much time do I have to exercise the stock options that have vested if I leave?

Options granted after May 2024 will have three (3) months from the date of grant to exercise options.