Even if you are an early employee you can still get hit by a later stage series that gives a high valuation but with a preferred ratchet if you IPO at less than a specific price.  It is almost impossible to get information on the specifics of the deals. I am not sure if you vest at least 1 stock option if that will qualify you to see the docs and&#x2F;or if companies have other ways to prevent that or if they will in the future.