CoreWeave IPO: Your Equity, Taxes, and What to Do Next

CoreWeave, the AI-hyperscaler, went public on March 28, 2025, pricing its IPO at $40 per share under ticker CRWV, raising $1.5 billion at a valuation of approximately $19 billion ($23 billion fully diluted).

The debut came after an IPO price range reduction from $47–$55—a signal of recalibrated investor sentiment. The offering included a 5% directed share program for employees, plus a 30-day over-allotment option for underwriters.

This public event marks a pivotal moment: your RSUs convert to actual shares and may be taxable, and your stock options are exercisable under new rules. Let's break down how this affects you—and what to do next.

1. 🔐 RSUs

• 4‑year vesting with 1-year cliff and monthly thereafter.
• Double-trigger: vesting plus liquidity event (IPO) required
• S‑1 confirms prior settlement of performance‑based RSUs upon IPO

2. 💼 Stock Options (ISOs & NSOs)

• Early hires may hold ISOs/NSOs.
• Early exercise has been permitted—starts the QSBS clock and lays groundwork for AMT strategies.

✅ RSU Settlement & Taxes

• Vested RSUs will settle based on the $40 IPO price, producing W-2 income.
• Withholding may lag (~22%), but your marginal tax bracket could be 35–37%—creating a funding gap.

⚠️ Lock-Up & Selling Timeline

• Standard 180-day lock-up, with possible partial sales afterward.
• Plan for liquidity needs before the lock-up ends.

🧾 Exercise ISOs Post-IPO

• Exercising now may expose you to grant–to–FMV AMT and establish long-term capital gains & QSBS eligibility (if held >5 years).

• Model Your Tax Outcomes
  Project income from RSUs × $40/share. Build out withholding needs and April tax liquidity.
• Plan for Lock-Up Restrictions
  Hold enough cash or liquidate post-lock-up to fund taxes—even if the stock sits stagnant early.
• Leverage the Employee Directed Share Program
  Participate but don’t overcommit. Diversify revenue-driven equity to manage risk.
• Build Your QSBS & AMT Plan
  Identify early shares acquired pre-funding >$50M. Document timelines and ISO exercise dates to maximize §1202 benefits.
• Coordinate Tax & Financial Planning
  I help clients integrate stock planning with their tax returns, diversification, charitable giving, and longer-term wealth goals.

• Expertise in tax-integrated equity planning.
• Flat-fee model—no AUM fees, no commissions, no conflicts.
• I handle everything from RSU/ISO modeling to lock-up timing, QSBS eligibility, and full tax prep.
• I've helped professionals at Palantir, Asana and Braze manage IPO, AMT, and long-term wealth outcomes.