Equity simulator

Plug in the grant from your offer letter and see what it's worth across exit scenarios — after dilution, net of strike price, and per year of vesting. Runs entirely in your browser; we never see your numbers.

Simulating an offer from Cognition — last reported valuation $25B pre / $26B post (Funding round · 2026-05)Dilution preset to 40% for this stage — adjust freely.

Your grant

Options

number of options in the grant

Strike price

per share, from your offer letter

Last-round share price

preferred price per share — ask the recruiter; they know it

Dilution until exit · 40%

future rounds shrink your slice — 25% is a typical guess for 2–3 more rounds

Vesting years

Cost to exercise the full grant: $25k

What it's worth at exit

Multiples are of the last-round share price, after your dilution guess.

ExitShare valueGrant valuePer vesting year

0.5×$3.6$11k$2,750

1×= today's paper value$7.2$47k$12k

2×$14.4$119k$30k

3×$21.6$191k$48k

5×$36$335k$84k

10×$72$695k$174k

What this ignores (on purpose)

Liquidation preferences: in a low exit, investors get paid back first — common stock can be worth $0 even when the headline price isn't. Treat the 0.5× row as optimistic.
Taxes: exercising and selling both trigger tax (ISO/NSO/AMT differ, and so does your country). The numbers here are pre-tax.
Refresh grants, early-exercise, and secondary sales — all real, all out of scope for a first estimate.

Educational estimate only — not financial or tax advice.