I've commonly seen grants like this diluted to almost zero. I would think carefully and strategically about how you can get some sort of value for the equity you vested. Its probably harder than you think to get decent liquidity on it.
It happens all the time, I have seen it in NYC. Usually its an early stage thing, cofounder leaves after 1 year etc. Much harder to do with a complicated cap table. Investors I could name even suggest it
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