Unlike many, if not most of its peers, however, Tanium places a clause in at least some of its employment contracts that allows it to buy those shares back within a year of an employee's departure from the company, according to four people with knowledge of the situation. Like many startups, cybersecurity firm Tanium offers its employees equity in the company as part of their compensation packages. Visit Business Insider's homepage for more stories.One former Tanium employee affected by the buyback calls it a "gut punch." "This is not the standard for venture capital backed companies," attorney and stock option expert Mary Russell told Business Insider.The company has recently made tender offers to buy shares from current employees at prices higher than the "fair market value," Pepple said: $12.95 per share last year, and $11.40 per share this year.She also said the buybacks were unrelated to its funding rounds. Rachel Pepple, vice president of global brand and communications, told Business Insider that the company works with an independent third party to come up with a "fair market value" per share for the buyback from former employees.
Since September 2018, Tanium has placed a clause in its employment contracts allowing it to execute this kind of buyback within a year of an employee's departure from the company, the company said.That round came only months after Salesforce Ventures made an separate investment that reportedly totaled at about $100 million. The buybacks came about a week before Tanium announced a $150 million funding round that brought its valuation up to over $9 billion.Tanium, a hot cybersecurity startup valued at over $9 billion, recently exercised the right to buy back employees' equity in the company for $8.10/share - whether they wanted to sell or not.
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