Option Grants Over Time Several people have asked me over the years how we think about subsequent option grants (e.g., not the employee’s initial grant when hired), so I thought I would just share my standard answer here. We give the following kinds of grants other than new employee grants: promotion grants – employees get the incremental grant between their existing grant and what someone being hired into the new position would get performance grants – once a year we give the top 10-15% of performers a grant that is equal to approximately 25% of their initial grant (so if they are a consistent superstar, they get twice as many options over the four years) refresh grants – we only…