Please note that the information provided on this page is confidential and intended solely for the recipient; it must not be shared with or disclosed to any unauthorized parties.

Our Employee Option Plan gives you the chance to be an owner of the long-term success of our company.

Whether you’re just joining or have been with us for a while, these options are our way of ensuring that if, through our collective efforts, the company grows and thrives over time, you have the opportunity to benefit from the increase in its value through your stock options.

A stock option is the right to buy a certain number of shares at a predetermined price.

Your Stock Option Grant lists the amount of shares you may purchase, and the price at which you may purchase them (the “Exercise price”).

Vesting is the time required before you can take advantage of your stock options.

Starship’s standard vesting schedule is four years, with a one-year cliff. This means that

• on the one-year anniversary from your vesting start date, you will receive 25% of your total options.
  
• After that, the remainder of your options will vest on a monthly basis, so that each month you work at the company, you will get an additional 1/48th of your total options (because there are 48 months in four years). By the end of year two, you would be 50% vested, by the end of year three, 75% and by the end of year four, 100% vested.
  

Your vesting commencement date is listed in your Stock Option Grant.

Note:

Your vesting ends if you are no longer working at the company, and/or is suspended if you are on long-term leave.

Once your options are vested, you can decide whether to “exercise” them.

Exercising your options means purchasing the shares at their exercise price. You can only exercise as many options as you have vested.

You have a specified amount of time to purchase the shares before your options expire. The maximum time period is ten years after the option grant date.

Note for Estonian employees:

For Estonian tax reasons, you can exercise the options only after the 3rd anniversary of the option acceptance date (both parties signed the stock option agreement).

Options give you the right to purchase shares in the company. Only after you exercise your options, are you then granted shares in the company, and become a shareholder.

Options give the employees flexibility to decide if and when to become a shareholder which means there is less expense upfront to purchase shares, and often comes with tax benefits as well.

1. keep an eye on your personal e-mail inbox for the notification on receiving the grant from the Carta platform
2.  digitally sign/accept the Stock Option Grant within 15 days of the notification date

When should you exercise your options?

Whether or not to exercise your options, and when to do so is a personal decision that only you can make. 

Some things to keep in mind:

• Your options must be vested before you can exercise them
• Some people choose to exercise their options as soon as they are eligible, others wait to exercise until the share price is at a level at which they would be willing to sell, or at the time of a liquidity event
• Review your financial position and goals
• Know your personal tax situation and implications
• Know when your options expire

If you leave the company and would like to exercise your vested options, you will need to do so within five years following your termination date (or within 10 years from the grant date, if that comes sooner).

If you are terminated for cause, all vested and unvested options shall expire at that time and may not be exercised thereafter.

Note for U.S. employees:

If you exercise your ISO options on a date later than 90 days following termination, your options will automatically lose their favorable ISO tax treatment and will be taxed as NSOs.

If you decide to exercise your options, you will need to sign in to our option management system Carta at login.app.carta.com (with your personal e-mail address), and complete the steps as guided in the system.

• All stock option grants are issued in the absolute discretion of the board who may decide whether to grant any options at all, the number of options, as well as other details pertaining to the options.

• The information in this presentation has been described in a simplified and summarized manner, and pertains to options for a typical employee. The Option Plan Agreement is the definite document that governs your stock options and contains many more details and terms that have not been included in this presentation. The Option Plan Agreement is the only document that should be used to fully and completely understand how your stock option grants work.

• This communication is not to be construed as legal, financial or tax advice and is for informational purposes only. This communication is not intended as a recommendation, offer or solicitation for the purchase or sale of any security. Although this presentation may provide information concerning potential legal or financial issues, it is not a substitute for legal or financial advice and any opinions or conclusions provided in this presentation.