Hmm I had initially assumed it was but now that you mention it and after googling a bit more, it seems that&#x27;s reserved for founders and early stage investors (my practical experience with evaluating equity is limited). I suppose I&#x27;d rephrase that to look for total preference to evaluate how much whatever share the share of common stock offered would be worth as well as total outstanding shares have been issued, and how many are expected to be issued upon being sold or going IPO so far among other things.