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Re:For Airbnb employees, dream turns into disillusionment by H8crilA on Sunday September 22, 2019 @12:47PM (#21042331)
Those are some really dirty rules - to have the company sanction the transfer of its own securities. In principle it should be the other way around (i.e. shareholders decide what the company does, not company decides what shareholders do). Do you have examples of such contracts?
Re:For Airbnb employees, dream turns into disillusionment by doublerebel on Sunday September 22, 2019 @01:47PM (#21042727)
This is 100% standard for private companies, particularly startups. The company often prefers to buy back the equity rather than have it go to a disconnected third party. This First Right Of Refusal is often also explicitly outlined in the shareholders/purchase agreement. The largest shareholders with voting rights are who create this agreement.

It's not dirty: it keeps incentives aligned because the shareholders have common goals, and the terms are stated clearly upfront.

Re:For Airbnb employees, dream turns into disillusionment by H8crilA on Sunday September 22, 2019 @11:18PM (#21045673)
Right of first refusal makes sense, it still exists in Europe for publicly traded companies. Shareholders of companies that issue new equity can sell their rights to other investors, or exercise those rights.

But what we have here is not only that but also a prohibition on sale to an outsider. So not only "we can intercept the sale at the same price you offered to someone else" but also "we can block that sale even if we don't want to participate in it".

Re:For Airbnb employees, dream turns into disillusionment by toomuchtodo on Sunday September 22, 2019 @12:51PM (#21042357)
https://www.clerky.com/assets/forms/stock-option-award.docx

“The attached document is part of the Startup Forms Library made available by Clerky as part of an initiative with Orrick and Y Combinator to streamline startup legal documents. By using or viewing the attached document, you agree to the Terms of Use for the Startup Forms Library, which can be viewed at https://www.clerky.com/site/form-terms.”

Transferability:

“You may not transfer this Option except as set forth in Section 6 of the Stock Option Agreement (subject to compliance with Applicable Laws). You must obtain Company approval prior to any transfer of the Shares received upon exercise of this Option.”