Question about Founder’s Stock of a C-Corp

[amore_amibo]

Can a co Founder’s Stock of a C-Corp be taken away before the cliff and vesting schedule? Let’s say that co founder overpromised and underdelivered and now the company (other co founders) wants to restructure his equity..

 

[mjkobe]

@amore_amibo It all depends on the legal agreement determined in the vesting schedule as I understand it.

 

[amore_amibo]

@mjkobe Let’s say 4 year vesting with 1 year cliff and it’s been 8 months after contract was negotiated.

 

[mjkobe]

@amore_amibo From my understanding, vesting just protects investors for when a founder leaves the company. This might be able to be defined in a few ways but probably depends on the level of delivery.