Venture Deals · glossary
Exercising every option and closing the plan before a sale, so that nobody keeps a right to a share. At Solaris vesting was brought forward, and all 4,800 options were exercised with money Meridian lent. Clause 7.4 · Deed of Exchange, clause 2 · Chapter 15
Explained in Chapter 15, The Exchange, the Reorganisation and the Handover, of Venture Deals.
A buyer will not take a company in which over a hundred employees hold options. Each option is a right to demand a share, and the buyer wants every share with nobody able to ask for more. So the third step is the option sweep: every option is exercised and the plan is closed.Read Chapter 15, The Exchange, the Reorganisation and the Handover →
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