One thing I've always wondered.. if as an employee your stock options have a vesting period, and during that period the company is acquired, do you benefit as if you owned those shares? Or is it only on the options that have vested and you've taken up?
From what I understand (largely from reading the linked document) is that the employee is likely to have an acceleration clause of some kind that vests your outstanding options after a certain event happens. Common types are single trigger which occurs on change of ownership and double trigger that requires change of ownership and for the employee to leave the company.
There was also something about these terms being negotiated as part of the change of ownership but that kind of thing is completely beyond my knowledge.
