In my case,<p>* Internal buybacks (&quot;tender offers&quot;) were actually all above the current (publicly-listed) stock price. Private valuations can be pretty inflated. I think it&#x27;s a good idea to take these and diversify.<p>* My company did use a backchannel to stop me from selling privately to one of their investors before the IPO (at roughly double the current market price). So I think the spirit of your comment is right.