If I understand correctly, that’s what’s called a cliff - during the first period of your grant, you have no ongoing vesting, until a set date in the future where all of that period vests at once.
For example, first 12 months: 0%, then 12/48 at once, and finally 1/48 every month for the remainder of the grant.
I can only describe in this way to try and explain.
You start work 01/01/2025.
No stocks given.
1 year later 01/01/2026
You get given say 10 shares unvested which vest after two years.
1 year later 01/01/2027
Nothing beats but you get another 10 shares unvested which vest after two years.
1 year later 01/01/2028
The first set you were given have vested and you can sell them or keep them. The second set have not vested as they have one more year to go. You get a third set of shares which again vest in two years
If I understand correctly, that’s what’s called a cliff - during the first period of your grant, you have no ongoing vesting, until a set date in the future where all of that period vests at once.
For example, first 12 months: 0%, then 12/48 at once, and finally 1/48 every month for the remainder of the grant.
Correct me if I misunderstood.
Not quite.
I can only describe in this way to try and explain.
You start work 01/01/2025.
No stocks given.
1 year later 01/01/2026
You get given say 10 shares unvested which vest after two years.
1 year later 01/01/2027
Nothing beats but you get another 10 shares unvested which vest after two years.
1 year later 01/01/2028
The first set you were given have vested and you can sell them or keep them. The second set have not vested as they have one more year to go. You get a third set of shares which again vest in two years
Then the cycle repeats.
Hope I explained that well enough.
Aha! Sounds like a combination of a cliff (but not quite if the grant is just not given until 1 year) and continuous refreshers.