Fundraising Operations
Offer Letter vs. Grant Agreement: Reconcile What Was Promised
An offer letter and an equity grant agreement can describe different stages of the same arrangement.
What you will learn
- Compare an offer promise with the final award documents.
- Locate quantity, dates, conditions and approval evidence.
- Prepare a precise discrepancy question without deciding legal precedence.
An offer letter and an equity grant agreement can describe different stages of the same arrangement. Compare them field by field before assuming a headline promise is an approved award or an issued holding. When they differ, document the question and ask the responsible company team to explain it.
Separate the document’s job from its title
An offer may describe proposed compensation, while a grant notice identifies an award under a plan and related agreement. Actual effects depend on the documents and applicable rules. Sumo Logic’s 2010 stock plan, amended in 2020 and filed with the SEC is a historical example of separate plan and award forms, not a universal rule that one document always overrides another.
Original cross-document reconciliation
| Field | Fictional offer letter | Fictional grant packet | Question |
|---|---|---|---|
| Quantity | “Up to 20,000 options, subject to approval” | Notice lists 18,000 options | Was the final quantity approved and communicated? |
| Clock | “Four-year vesting” | Commencement date and monthly schedule supplied | Does the start date match the intended service period? |
| Price | No strike supplied | $3 exercise price | Which approved award and reference date support this price? |
| Status | Proposed compensation | Notice references approval but receipt is not located | Who can confirm approval and provide the missing record? |
Describe the difference without resolving it yourself
The quantity gap is 2,000 options:20,000 proposed versus 18,000 stated in the notice. That arithmetic does not establish an entitlement to the larger number or prove that the smaller one is an error. It identifies the precise issue the company needs to answer.
A useful question is: “My offer describes up to 20,000 options subject to approval, while the notice lists 18,000. Please confirm the approved quantity, the source of the change and whether another document is expected.” Avoid replacing the notice, signing an amendment or declaring a legal conclusion merely to make your spreadsheet reconcile.
Check the complete chain
- The offer and any approved revision or explanatory correspondence.
- The grant notice and the agreement it incorporates.
- The relevant plan version and supplied schedule.
- Confirmation from the authorized administrator of unresolved approval or record questions.
- A dated statement reflecting completed events, kept distinct from proposals.
Vesting commencement, approval, grant, exercise and settlement dates have different jobs. The same calendar day may appear in several places, but do not force equality when the documents describe different events. If a date is genuinely missing, leave it unresolved and assign an owner.
Keep the reviewed version with the conversation
Once the company provides an explanation, compare it with the updated packet and record what remains open. The cap-table review checklist keeps the award packet distinct from completed transactions and dated ownership records. An answered email is not automatically a signed amendment. Ask a qualified adviser to interpret a conflict that affects your rights.
Use the FAQ-building method to turn a vague concern into one evidence-backed question. Finta can keep that question, the authorized materials and follow-up in one place. Aurora can draft a comparison from the records you provide; you remain responsible for checking the text and choosing what to share.
About this lesson. By Finta Editorial Team. Sources checked November 14,2026. Examples and exercise amounts are fictional. General education, not individualized legal, tax, accounting or investment advice. Confirm actual terms with the responsible company team and qualified advisers.