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ShareholdingExplained
Stage 3 · Holding

What you can and can't do

Restrictions on selling, vesting, and how funding rounds or debt change what your shares are worth.

The key points

  • Most private company shares can't simply be sold. The articles and shareholder agreements control who you can sell to, and when.
  • Vesting decides how much you keep if you leave, often building up over three to four years.
  • In a VC-backed company, each funding round shrinks your percentage.
  • In a PE-backed company, your percentage stays the same, but the debt ahead of you can grow every year.
The full guide for this stage is being written. In the meantime, the tool below covers the same ground for your own situation.
See dilution in the simulator →Use your own numbers and situation.Request an expert reviewA specialist looks at your documents. Fee agreed with you.

Education only. Real share structures vary: check your company's articles and your own agreements. Not tax, legal or investment advice.