On this episode of The Compensation Podcast, Lucas and Luna dig into a less-discussed corner of pay transparency: how startup equity grants are being rewritten when salary bands go public. Using the example of a Series B fintech that posted its pay bands and then had to reprice options, they explore the knock-on effects on 409A valuations, early-exercise windows, and the message a transparent cap table sends to engineers. Lucas walks through the mechanics of a 409A and why transparency can push companies to grant more shares upfront, while Luna brings a real anecdote about a founder who chose to make the entire equity formula public — and the surprising retention boost that followed. They also touch on the tax timing of exercising options after a transparency-driven repricing, and what listeners should ask their HR team if they suspect their grant is stale. A short listener-support segment sits in the middle. Practical, specific, and grounded in 2026's shifting norms.