Out of curiosity, if founders' shares vest who owns the stock before it vests? I'm thinking it will be the company but that doesn't feel quite right. Or does it mean that the unvested shares have no voting or other privileges?
There's a variety of ways to implement it. A common way is that you purchase your shares from the company for par value (e.g. $0.000001 per share) and the company has the right to repurchase them for par value, with the number of shares subject to repurchase declining over time as shares vest.
