So I have to wait 2 years to see anything from a refresher?
At Tableau, we used to have a 1-year cliff for refreshers. But after that RSUs vest every quarter so it took 15 months after the grant to have the possiblity to sell some of that grant. They just changed that, however, and removed the cliff. Now RSUs granted can be sold (1/16) after only 3 months
2/3 of companies I have worked for had cliff for refreshers.
Also are refreshers based on stock price at initial offer or are they adjusted? I.e. if the stock price goes up will you get less shares?
My experience is that yes, if the stock is up, you get less shares. At both Microsoft and Tableau, your grant is a monetary amount that gets converted to a number of shares. For example, Microsoft has targets per level, say $28k for level 64. At grant time, you get $28k/price_of_MSFT_share shares.
Will palantir ever IPO?
According to the CEO, no