Ask HN: How do you sell employee shares?

https://news.ycombinator.com/item?id=10135261

by nraynaud • 11 years ago

11 12 11 years ago

news.ycombinator.com

I have those shares from a (french) company I used to work for, and I don't know how to find a buyer, conduct the sale, etc. Most of the documents I have are confidential, due diligence needs the company's help and I have no clue how to pitch my shares. I have no good proof I own those shares (well, I have the signed minutes of the attribution assembly, but it's confidential). The company is not interested in buying them back.

Maybe I should sort my questions:

1) who might be interested in buying? 2) how can I pitch it to them, when most of the documents I have are confidential? 3) how do we conduct the sale?

fred_is_fred• 11 years ago

I think you need an attorney.

nraynaud4• 11 years ago

To be fair I talked to a lawyer who was not helpful for this question.

antaviana• 11 years ago

One option is selling them to the company itself.

They might reuse them for another employee compensation later or give them to the remaining shareholders.

Typically companies are keen to keep among they shareholders only those that can bring in value and try to keep out those that might sue them for mismanagement at the earliest opportunity.

nraynaud4• 11 years ago

they are not interested, I'm curious about the logic behind that, like when a company decides to buy it back and when to leave it to the former employee. I'm feeling a bit trapped, I think next time I'll avoid doing this mistake.

tptacek• 11 years ago

It is likely that you cannot sell them. (I'd say "very likely" but I don't know the situation in France. In the US, especially with a funded company, count on not being able to sell your shares.)

andrewmcwatters• 11 years ago

Those shares were worthless, from what it sounds.

ig1• 11 years ago

Sell to another employee ?

But your situation seems bizarre, I'm not familiar with french stock practices, but I doubt that's normal for France.

nraynaud4• 11 years ago

could you elaborate on the bizarreness please? it's my first time too, so I don't know what's normal.

j2bax• 11 years ago

Offer to sell them to one of the owners ex-wives for really cheap.

imauld• 11 years ago

Just a clarifying question: They gave you stock backed up by documents that you can't show anyone?

nraynaud4• 11 years ago

The shareholder meeting minutes are confidential. I can show them to my lawyer, accountant etc. But not to random people in the street, asking: "pst, 'want some shares?".

rahimnathwani• 11 years ago

In the UK, each company must file an Annual Return with Companies House. The Annual Return includes a full list of the company's shareholders, along with how many shares they have. The information is public: https://beta.companieshouse.gov.uk/

Does infogreffe.fr have a similar thing?

Ask HN: How do you sell employee shares?

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