If the total stock was allocated then it may be a tax issue to change.
The best option may be to have vesting periods that can then be accelerted based upon workload/responsibilities.
The other option may be to "contribute" stock into new corp or LLC, but again, looking at tax issues. I did this and it was not easy...
Or contribute assets (code etc) only (not stock) into new entity and close down the old company.
Or issue more shares enabling a vesting period (may be simplest thing).
Definitely consult with a qualified business accountant to avoid what could be major headaches and possible tax penalties.
After reading the great info and essays, I notice that all founders are considered to be hackers. Is there no room for a strategic visionary who can build small quaility teams and make things happen? Have you funded a company with a non-hack "animal" founder? By way of background, I formed a start-up in 2004, that combined a unique electro-mechanical boot device with prop financial software and...
fantastic info. as founder seeking cap i was overly concerned w strategic investor which would have limited market opp, i was offered notes but balked as equity would forfeit w non-repayment. ultimatey walked from a jv deal strung us out 16 mos. met an angel at cocktail 2 days later, bluffed on needing bridge loan to get a deal done, got $500k 3 days later. sealed large deal w same investor 6...