Just curious, why do you say this? Most lockups are structured in such a way tha... | Hacker News

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rowborg on Aug 2, 2012 | parent | context | favorite | on: Facebook loses 3 more executives

Just curious, why do you say this? Most lockups are structured in such a way that they are binding whether or not you continue to be employed by the company. Your shares can only be sold via the company stock plan manager (often the underwriter) and they will enforce the agreement.

Is there any reason you believe FB's lockup is structured differently?

nerd-on-bay on Aug 2, 2012 [–]

First: I know nothing about facebook lockups.

There is a intersecting web of securities law and the terms of the original share sales to private investors.

Here is some information about registration rights and investment term sheets:

http://www.avvo.com/legal-guides/ugc/venture-capital-term-sh...

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