I have just received some of my first stock options in a company. The paperwork states the FMV of stock, my exercise price, and the total number of shares reserved for employee options. However, I don't know the total 409a valuation of the company itself, so I'm not sure what valuation the option price is based on. Are companies required to disclose this information when options are exercised?
The company is not required to share the last valuation with you, and probably won't. They did a valuation at some point recently, and your option strike price will be based on that value.
I would certainly ask about the valuation though, and try to convince them to tell me - but like I said they probably won't.
If you knew the total shares outstanding, you could back into the valuation based on your strike price. But they won't tell you the total outstanding shares either.