Most of your net worth is in one stock you can't sell. Yet.
Tender offers, secondaries, option exercises, IPO lockups — the decisions are timed, irreversible, and taxed differently by instrument. We match employees at late-stage private and recently-public companies with fee-only fiduciary advisors who model the event before the window closes.
Find your company
What's publicly reported about each company's equity program, and the decisions employees and holders face. Added and updated as events warrant.
SpaceX
Public as of June 2026 (Nasdaq: SPCX). RSU settlement taxes, the staggered lockup calendar, and the diversification clock.
OpenAI
PPUs aren't ordinary equity. What's public about profit participation units — and what to ask before you sell.
Anthropic
Employees largely held through a reported $350B+ tender, betting on an IPO as soon as late 2026. The hold-or-sell call, and listing prep.
Stripe
A tender most years (Feb 2026 at $159B). Sizing each cycle, double-trigger RSUs, and a multi-year diversification glidepath.
Databricks
The RSU squeeze — vested units settling into taxable shares while private — and funding the tax bill through the tender.
Figma
Recently public: RSUs settled at the IPO, the lockup is behind you, and now the problem is concentration.
xAI / X Corp
Two groups of employees, one complicated picture: direct xAI hires and X Corp holders who received xAI equity in the reported 2025 merger.
Canva
Preparing for an H2 2026 IPO: option timing, US tax framing for AU-origin employees, and the Delaware redomicile's impact on your grants.
Epic Games
No IPO schedule, no reported tender calendar — planning equity when liquidity depends on a secondary sale or a long wait.
Anduril Industries
Reportedly valued at ~$28B with no announced IPO date. ISOs, NQSOs, expiration clocks, early exercise, and how to prepare for a liquidity event on an unknown timeline.
CoreWeave
IPO'd March 2025 (Nasdaq: CRWV). Lockup expired August 2025. Focus: lot selection, LTCG vs. ordinary income, and a concentrated AI-infrastructure position to diversify.
Klarna
IPO'd September 2025 (NYSE: KLAR) at $40/share — now trading around $19. Employees face taxes from RSU settlement at the higher IPO price, with loss-harvesting windows and quarterly trading plans ahead.
Equity guides
Tender Offers
The employee's complete guide: eligibility and caps, pricing vs 409A, taxes by instrument, and deciding how much to sell.
Double-Trigger RSUs
Why private-company RSUs settle all at once — and the one-year ordinary-income spike that catches people at an IPO.
Early Exercise & 83(b)
Exercising options early, the 30-day 83(b) deadline, the QSBS clock, and the ISO/AMT trap to model first.
Selling Pre-IPO Shares
Secondaries, marketplaces, and transfer restrictions — how to sell shares before the company goes public, and the taxes on a secondary sale.
From IPO to Lockup
RSUs settled, you owe more tax than expected, and you can't sell yet. How to use the lockup window to build a glidepath — before the window opens.
RSU Settlement Tax Estimator
The 22% supplemental withholding almost always undershoots. Estimate the federal and state gap from your IPO RSU settlement and your quarterly payment amount.
ISO Exercise & AMT Estimator
Estimate the total cash cost to exercise ISOs before a liquidity event: strike cost, federal AMT bill, state income tax on the spread, and your AMT credit carryforward.
409A vs Preferred Price
Why your option strike is $4 while the company raised at a valuation implying $90 per share — and what your common equity is actually worth after accounting for the preference stack.
Concentration Glidepath Calculator
Model a multi-year sell-down plan: how much to sell each year, after-tax proceeds by year, and when you'd reach a target concentration. Built for recently-public company employees with 60-90% of net worth in one stock.
QSBS: The $15M Federal Exclusion
Section 1202 can exclude up to $15M in capital gains on qualifying startup stock. The five-part eligibility test, what OBBBA changed in 2025, the 28% rate trap on partial exclusions, and why California doesn't conform.
10b5-1 Trading Plans
Set up a pre-committed selling schedule before your first window opens. Cooling-off periods for officers vs. employees, plan design decisions, common mistakes, and a SpaceX SPCX worked example.
NQSO Taxes Explained
Non-qualified stock options are taxed as ordinary income at exercise — full federal + state + FICA rates apply. No AMT, but the bill can exceed 50% combined. Tax mechanics, FICA, worked example, and planning strategies.
Estimated Quarterly Taxes
RSUs, options, and tender proceeds are withheld at 22% — but your bracket may be 35–37%. The Q3 September 15 deadline, safe harbor calculation, the California zero-Q3 quirk, and a step-by-step payment checklist.
The questions that bring people here
- A tender offer is open — how much should I sell, and what will I actually net after taxes?
- Should I exercise options before a liquidity event — and what does AMT do to that math?
- My company just IPO'd and my RSUs all settled at once — why is my tax bill bigger than my refund ever was?
- The lockup expired. How fast do I diversify a position that's 80% of my net worth?
- What are PPUs actually worth, and how would a sale be taxed?
Run the numbers first: the tender-offer net proceeds estimator, ISO AMT estimator, RSU settlement tax estimator, and concentrated stock glidepath calculator each take about a minute.
Why a specialist (and why fee-only)
Most advisors see a tender offer or a double-trigger RSU settlement a handful of times in a career. Equity-comp specialists see them weekly: they model the event itself — sale sizing, exercise timing, AMT and its credit, estimated taxes across states, 10b5-1 design after the IPO — before the window closes. The difference between a planned and unplanned sale is routinely six figures of tax.
Every advisor we match is a fee-only fiduciary: paid by you, never by commissions, legally bound to act in your interest. No products, no asset-gathering quotas — just the event, modeled.
How it works
- Tell us about your equity. Company, instrument, rough size, and where you are in the event.
- We match you. A fee-only advisor who works these events follows up within one business day.
- You decide. First conversation is free. No obligation, and we never sell your information.
Get matched with an equity specialist
Free, confidential, no obligation — and if your window is open now, say so and we'll prioritize the intro.