2026 is shaping up to be a major year for IPOs, with SpaceX, Anthropic, OpenAI, Databricks, Canva and Stripe all reportedly planning to go public. For many current and former employees with equity, it will be their first experience owning stock in a company as it goes public. With so many irreversible decisions to make around a major liquidity event, getting it right the first time is a must. This pre-IPO financial checklist is a guide for employees looking to manage their stock options or RSUs before an IPO.

Get Ready For The IPO Well Before The Opening Bell

If your employer (or former employer) is going public, you've likely searched online or turned to AI for guidance on what an IPO means for employees with stock or what to do with your options before a liquidity event. AI can help, but it lacks experience navigating sudden wealth in an IPO. Here's a planning checklist from a financial advisor who specializes in stock options and pre-IPO planning.

Pre-IPO Equity Planning Checklist

Organize and inventory your stock grants and understand what you have

Find a financial planner and tax advisor who actually understands stock options and equity compensation.

Consider pre-IPO exercises and tender offers, and start thinking about how and when you will sell stock after the lockup or earlier liquidity windows.

Understand how taxes work and ways to reduce tax on stock sales (and the trade-offs).

Consider all the ways you can diversify before, during and after the IPO.

Inventory your financial assets outside of your pre-IPO shares and quantify your financial needs and goals.

Getting Organized Before The IPO

Many pre-IPO employees with equity have no idea what type of equity they have, never mind key details about how many shares have vested and the risks of exercising options right before an IPO.

So step one is to get organized. Log into the company’s equity management platform to view your grants. Consider making your own spreadsheet, even if it’s basic. Note the equity type; number of shares granted, vested, excisable and exercised; the strike price; and current value (409a). Download all the documents for each grant, label them and save........

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