The Co-Founder Grants comprise nine tranches that are eligible to vest based on the achievement of stock price goals, or, each, a Stock Price Target. The last grant date for two-tier RSUs was Prior to August 2015, the Company granted two-tier RSUs under the 2008 Plan. During the first quarter of 2018, the Company's Board of Directors approved the acceleration of the Performance Vesting Condition for which the service condition was satisfied, to occur upon the effectiveness of the registration statement related to the Company's IPO. The Performance Vesting Condition is satisfied on the earlier of (i) an acquisition or change in control of the Company or (ii) the earlier of (a) six months after the Company’s initial public offering or (b) March 15 of the year following the Company’s initial public offering. Upon satisfaction of the Performance Vesting Condition, these awards vest quarterly. The service-based vesting period for these awards is typically four years with a cliff vesting period of one year and continue to vest monthly thereafter.
Two-tier RSUs, which have both a service-based vesting condition and a Performance Vesting Condition.
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