"$400K in stock" is the most misleading phrase in an offer. Here's the follow-up question it needs. Public or private? If it's public, you're done. A $400K grant from Google is worth $400K. You can sell the shares the day they vest. That's the gold standard everything else gets measured against. If it's private, the number on the letter is a price someone set at the last funding round. You can't sell it until there's an IPO, an acquisition or a tender. So it needs a discount for two things:…