Sublime

Our long-standing policy has been to reinvest most of our profits and to depend on this reinvestment, plus funds from employee stock purchases and other cash flow items, to finance our growth. The stock purchase plan allows employees to apply up to a certain percentage of their salaries to purchase shares of HP stock at a preferential price. The

This special right gives investors first dibs on some of the proceeds at exit, intended to be downside protection to protect the investors if there is a mediocre exit.