How does equity compensation work in private companies? /u/saintmsent CSCQ protests reddit

I was looking at a job posting in a rather famous startup in the mobile tech stack (RevenueCat). They are a private company creating payment SDKs for mobile apps. Now, as part of their comp package, they list a base salary and a “10-year window to exercise vested equity options”. What does that mean exactly and how is it different from stock comp in public companies? Can you sell the shares right away and get cash? Or are there usually obligations to not sell for a certain amount of time? The line in the posting reads to me “you can hold these options for up to 10 years” but not beyond

I would appreciate insights from people who worked in similar startup setups before

I was looking at a job posting in a rather famous startup in the mobile tech stack (RevenueCat). They are a private company creating payment SDKs for mobile apps. Now, as part of their comp package, they list a base salary and a “10-year window to exercise vested equity options”. What does that mean exactly and how is it different from stock comp in public companies? Can you sell the shares right away and get cash? Or are there usually obligations to not sell for a certain amount of time? The line in the posting reads to me “you can hold these options for up to 10 years” but not beyond

I would appreciate insights from people who worked in similar startup setups before