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Thursday, October 1, 2026

Equity or exit: start-up fired worker who refused to give up shares - hcamag.com

Her probation was cut short for strong performance. Weeks later, she was out the door

She refused to sign away her shares. Hours later, she was fired.

A Singapore start-up dismissed an employee the same evening she declined to sign documents that would have weakened her equity entitlement - then argued the real reason was poor performance. The Employment Claims Tribunal was not persuaded.

In a decision published on September 30, 2026, the tribunal found the worker had been wrongfully dismissed and awarded her $15,000 in compensation - a sum tied directly to the value of the equity she stood to lose.

The start-up was incorporated in October 2025. The worker joined as an intern in early December that year and was confirmed as a full-time employee on January 1, 2026 - nearly two months ahead of her scheduled probation end date. Her role was in quantitative research and marketing, and she earned $5,000 a month.

Her employment contract recognised her as a "co-founder-level contributor" and entitled her to a 2.25% equity interest in the company on a fully diluted basis - meaning her percentage would be calculated against all shares, including any issued to investors - once the company completed its first external funding round. The shares, once issued, would vest over four years: 25% after the first 12 months, the rest in monthly instalments over the following three years.

On or about January 20, 2026, the company signed a term sheet with an investor under which the investor...



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