• Introduction
    ▼
    • Why Companies Are Embracing Employee Liquidity
    • How to Run a Successful Liquidity Program
  • Set Eligibility and Restrictions
  • Identify an Optimal Buyer and Structure
  • Set a Price
  • Investigate Impact on the 409A Valuation
    ▼
    • 409A Valuation
    • Hypothetical Scenarios
  • Prepare Company Disclosures and Information for Due Diligence
  • Provide Information to Employees
  • Determine the Legal Implications
    ▼
    • Stock Transfer Restrictions and Rights
    • Symmetry of Information Sharing
    • Exposure to Legal Liabilities
  • Determine the Tax Implications
    ▼
    • Taxation Issues Around Each Type of Stock Issuance
    • QSBS-See If Anyone Qualifies for Special Tax Treatment
    • How to Make an Employee Tender Offer Less Taxing
  • Get Your Message Right – Inside the Company
  • Conclusion
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Secondary Liquidity

Learn all about secondary sales of private company stock, from one-off transactions to company-sponsored liquidity events.

    • Liquidity Guide by Founders Circle Capital
  • The 409a Valuation Process
  • What’s Going on Below the (Exit) Waves w/ Morgan Stanley
  • SPAC – An Alternate Route to Going Public
  • Handling 409A Valuations In the Era of COVID-19
  • Secondary Stock Sales: A Brief History
  • Section 1202 Stock: The QSBS Gain Exclusion
  • A Legal Guide to Secondaries
  • How to Avoid a Big Tax Hit on Secondary Employee Tender Offers