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.
Evenly weighted vesting schedule: Your grant vests the same amount every month for every year of the duration of the grant. For example, 1/48th of the grant vests over 4 years.
Back-weighted grant: Your grant vests less or not at all for the early period of the grant, and then a majority in the later part of the grant. For example: Year 1 10%, Year 2 20%, Year 3 30%, Year 4 40%.
Why it’s fucked up: The company is incentivized to abuse your labour early in your employment and then push you out before the majority of your compensation package kicks in.
Equity is already enough of a pair of golden handcuffs as it is, there’s no need to make them worse from this perspective.
Back-weighted vesting schedule is some truly fucked up shit. Reddest of red flags
Aha! Sounds like a combination of a cliff (but not quite if the grant is just not given until 1 year) and continuous refreshers.