Valon Technologies

2026 Employee Benefits

Valon is committed to providing competitive and inclusive benefits that attract the best talent from diverse backgrounds. We aim for all our programs to promote overall employee health and work/life effectiveness.

Enrollment & Eligibility

When you join, you will have 30 days to elect your insurance benefits. Make your elections carefully — you will be locked in for the rest of the year unless you have a qualifying life event. Open enrollment typically occurs each November for the following plan year.

Who's eligible? Full-time employees working a minimum of 30 hours per week.

Who can I add as a dependent? Your spouse/domestic partner, children, or your spouse/domestic partner's children.

When do benefits begin? Coverage starts on the first day of the month following your start date. For example: start date June 15 → benefits begin July 1.

Health Insurance

🩺 Medical

Valon offers medical coverage through United Healthcare (all states) and Kaiser Permanente (California only).

United Healthcare PPO

All states

Plan overview

Deductible $750 individual · $1,500 family

Copay $25 Primary Care · $40 Specialist

Rx (31-day)

Generic$15, then 100%

Preferred Brand$30, then 100%

Non-preferred Brand$50, then 100%

Monthly cost

Coverage tier	Your cost / mo
Employee only	$51.13
Employee + Spouse	$295.26
Employee + Child(ren)	$234.87
Employee + Family	$448.32

United Healthcare HDHP + HSA

All states · HSA eligible

Plan overview

Deductible $1,700 individual · $3,400 family

Preventive 100% covered

Coinsurance 80% after deductible (Primary Care & Specialist)

Rx (31-day)

Generic$10 after deductible

Preferred Brand$30 after deductible

Non-preferred Brand$50 after deductible

Monthly cost

Coverage tier	Your cost / mo
Employee only	$0
Employee + Spouse	$110.10
Employee + Child(ren)	$82.57
Employee + Family	$175.90

Kaiser Permanente HMO

California only

Plan overview

Deductible None

Copay $20 Primary Care · $30 Specialist

Rx (31-day)

Generic$15, then 100%

Preferred Brand$35, then 100%

Non-preferred/Specialty30% up to $250, then 100%

Monthly cost

Coverage tier	Your cost / mo
Employee only	$33.49
Employee + Spouse	$167.05
Employee + Child(ren)	$124.55
Employee + Family	$255.39

Kaiser Permanente Deductible HMO

California only

Plan overview

Deductible $1,500 individual · $3,000 family

Preventive 100% covered

Copay $30 Primary Care · $40 Specialist

Rx (31-day)

Generic$15 after deductible

Preferred Brand$35 after deductible

Non-preferred/Specialty30% up to $250, then 100%

Monthly cost

Coverage tier	Your cost / mo
Employee only	$0
Employee + Spouse	$137.23
Employee + Child(ren)	$101.65
Employee + Family	$221.46

Fertility benefits: All of our plans include fertility coverage (e.g., IVF cycles). Exact requirements and coverage depend on your plan and location — check the plan documents for details.

🪥 Dental

Valon offers dental benefits through United Healthcare. Choose between the Base plan (included at no cost for employee-only coverage) or the Buy-Up plan for enhanced coverage.

Base Dental

Plan overview

Deductible $50 individual · $150 family

Annual max $1,000 / person

Preventive 100% covered (cleanings, exams, X-rays)

Basic 80% covered (fillings, extractions, periodontics)

Major 50% covered (crowns, implants, dentures)

Orthodontia Not covered

Monthly cost

Coverage tier	Your cost / mo
Employee only	$0
Employee + Spouse	$19.02
Employee + Child(ren)	$20.57
Employee + Family	$30.99

Buy-Up Dental

Enhanced coverage

Plan overview

Deductible $50 individual · $150 family

Annual max $3,000 / person

Preventive 100% covered (cleanings, exams, X-rays)

Basic 80% covered (fillings, extractions, periodontics)

Major 50% covered (crowns, implants, dentures)

Orthodontia 50% covered · $1,500 lifetime max (adults & children)

Monthly cost

Coverage tier	Your cost / mo
Employee only	$20.91
Employee + Spouse	$43.91
Employee + Child(ren)	$49.16
Employee + Family	$73.43

👓 Vision

Valon offers vision benefits through United Healthcare. Employee-only Base coverage is included at no cost.

Base Vision

Plan overview

Frequency Every 12 months (exam, lenses, frames, contacts)

Copay $20 exam · $20 eyeglasses · $20 contacts

Frames $100 allowance (30% off overage)

Contacts Formulary covered in full after copay (up to 4 boxes)

Monthly cost

Coverage tier	Your cost / mo
Employee only	$0
Employee + Spouse	$3.78
Employee + Child(ren)	$3.97
Employee + Family	$5.84

Buy-Up Vision

Enhanced coverage

Plan overview

Frequency Every 12 months (exam, lenses, frames, contacts)

Copay $0 exam · $0 eyeglasses · $0 contacts

Frames $150 allowance (30% off overage)

Contacts Formulary covered in full (up to 6 boxes)

Monthly cost

Coverage tier	Your cost / mo
Employee only	$3.63
Employee + Spouse	$10.31
Employee + Child(ren)	$10.91
Employee + Family	$16.03

➕ Life & Disability

Eligible employees receive Life, Short-Term Disability, and Long-Term Disability insurance through New York Life.

Basic Life & AD&D

Valon provides basic life insurance equal to 2× your annual salary, up to a maximum of $150,000.

Note: employer-paid premium costs for group life coverage over $50,000 are subject to income tax and will appear as imputed income on your paycheck.

Short-Term Disability

Income protection if you're unable to work: 60% of your annual salary, up to $2,500/week.

Long-Term Disability

Income protection for extended leaves: 60% of your annual salary, up to $13,500/month.

Voluntary Life & AD&D

Optional additional coverage to supplement Valon's basic group life plan. Employees may contribute to a voluntary term life insurance policy.

🏥 Supplemental Insurance

These supplemental plans through New York Life help protect your finances when you face an accident, serious illness, or hospital stay.

Accident Insurance

Reimburses you for covered injuries or treatments after an accident.

Critical Illness Insurance

Provides a lump-sum payment if you're diagnosed with a covered condition such as cancer, heart attack, or stroke.

Hospital Indemnity Insurance

Offers a cash reimbursement if you're admitted to the hospital.

Financial Wellbeing

Healthcare FSA

A Flexible Spending Account lets you set aside pre-tax dollars for eligible healthcare expenses. You elect an annual contribution amount, which is deducted from your paychecks. Pre-tax contributions lower your taxable income.

Dependent Care FSA

A pre-tax account for eligible dependent daycare expenses. May also be used for care of elderly dependents or a disabled spouse/dependent in certain circumstances.

Health Savings Account (HSA)

Contribute pre-tax dollars to pay for eligible healthcare expenses. Available to employees enrolled in the UHC HDHP plan. Valon contributes to your HSA:

Coverage tier	Valon contributes
Employee only	$100 / month
Family (EE + 1 or more)	$200 / month

401(k) + Match

Benefit-eligible employees can enroll in Valon's 401(k) on their benefits effective date. Manage contributions and investments directly in Empower.

Valon matches your contributions dollar-for-dollar up to 4% of eligible earnings. Vesting is immediate.

Pre-Tax Commuter Funds

Set aside up to $325/month pre-tax for commuting expenses including transit (bus, subway, ferry, light rail, vanpool) and parking at or near work.

Additional Benefits

Employee Assistance Program

CuraLinc EAP — confidential counseling to help find balance between work and life, covering education, lifestyle & fitness, dependent care, and legal & financial guidance.

United Healthcare EAP (available to UHC members) — confidential counseling at no cost, including:

Up to 3 visits per issue (in-person or online)
Legal consultation (30 min) and discounted attorney fees
Financial consultation
Well-being articles, podcasts, and webinars
24/7 crisis consultation

Internet & Phone Stipend

Valon contributes $50/month toward your monthly data and phone usage.

Flexible Workplace

Valon offers a hybrid workplace with in-office experience for NYC and San Francisco–based employees, plus fully remote options. Our NYC office is dog-friendly. 🐶

Meals & Snacks

Valon offers individual lunches and dinners from local restaurants whenever you're in the office! Fridges and pantries are always stocked with beverages and snacks.

Time Away

Company Holidays

Valon offices close on 11 paid company holidays. See Rippling for exact dates each year.

New Year's Day

Martin Luther King Jr. Day

President's Day

Memorial Day

Juneteenth Independence Day

Independence Day

Labor Day

Columbus Day

Veterans Day

Thanksgiving Day

Christmas Day

Paid Time Off (PTO)

Valon offers flexible vacation. Take the time you need to rest and rejuvenate, while meeting the expectations of your role and team.

Sick Time

Valon offers flexible sick time. If you're sick, stay home, get better, and record your time in Rippling. Update your Slack status and coordinate coverage with your manager.

Parental Leave

New parents receive up to 12 weeks at 100% pay to spend with their family. Biological, adoptive, and foster parents are all eligible.

Valon also offers a flexible return-to-work program as you ease back in.

Bereavement Leave

Full-time employees who lose a close relative receive up to 3 days of paid bereavement leave for attending services, handling family obligations, or personal grieving.

Plan Documents

Download the official Summary of Benefits and Coverage (SBC) and plan summaries for each benefit offering.

Medical

UHC HDHP + HSA — Summary of Benefits & Coverage PDF UHC PPO — Summary of Benefits & Coverage PDF Kaiser NorCal HMO — Summary of Benefits & Coverage PDF Kaiser NorCal Deductible HMO — Summary of Benefits & Coverage PDF Kaiser SoCal HMO — Summary of Benefits & Coverage PDF Kaiser SoCal Deductible HMO — Summary of Benefits & Coverage PDF

Dental

UHC Base Dental — Benefit Summary PDF UHC Buy-Up Dental — Benefit Summary PDF

Vision

UHC Base Vision — Benefit Summary PDF UHC Buy-Up Vision — Benefit Summary PDF

Supplemental & Life

Voluntary Term Life & AD&D — Plan Summary PDF Hospital Indemnity Insurance — Plan Summary PDF Critical Illness Insurance — Plan Summary PDF Accident Insurance — Plan Summary PDF

Valon Technologies

Equity at Valon

Valon offers equity in the form of stock options (ISOs/NSOs) and RSUs. The information below is meant to provide Valon-specific context. We recommend reviewing general equity compensation guides (Carta and Holloway are great resources) before diving in.

Grant & Stock Mechanics

Does Valon offer equity in the form of stock or stock options?

Valon offers equity in the form of stock options (ISOs/NSOs) and RSUs. The number of shares granted is equivalent regardless of choice. We recommend speaking with a tax advisor about which makes the most sense for your financial situation.

Grants are typically approved quarterly during the board meeting (roughly ~6 weeks after quarter end). Please submit your choice to your recruiter as soon as possible — choosing early helps you get the lowest strike price.

Does Valon allow for early exercise?

Yes. Valon allows employees to early exercise to optimize their tax situation. If an employee parts ways with the company before their shares fully vest, Valon may buy back their unvested shares (though Valon isn't obligated to do so).

Are there transfer restrictions on the shares after purchase?

Transfers are subject to approval and a right of first refusal, except in the case of estate planning purposes. If and/or when the company goes public, this will no longer apply.

Are all employees on the same vesting schedule?

Yes. All employees, including the founders, are on the same vesting schedule: a four-year monthly vesting period with a one-year cliff. Follow-on grants typically do not have cliffs. This schedule applies to both stock options and RSUs. Vesting starts on the first day of employment.

If I leave or am terminated, can I still exercise my options?

Yes. You must exercise your options within 90 days of parting ways with the company.

Is Valon classified as a Qualified Small Business?

No. Valon Technologies hasn't been classified as a Qualified Small Business since November 2021. This means that NY-based employees will pay a non-zero amount in federal and state taxes on equity gains if the equity is held for any amount of time.

Does Valon offer double-trigger RSUs?

Yes, Valon's RSU program is double-trigger, meaning units do not vest until both conditions are met: (1) time-based vesting and (2) a liquidity/IPO event. If an employee leaves, they will keep any units that have time-vested regardless of whether the second condition has been met.

The purpose of this is tax treatment — single-trigger RSUs would result in taxation upon vesting, which is unideal for illiquid securities.

What platform does Valon use to track its capitalization table?

Valon uses Carta to track capitalization. Note that Carta may lag actual board consents, but we do our best to keep it up to date. The actual source of truth is the board consents; Carta is a mechanism for tracking and displaying grants.

Board approvals are typically requested around quarterly board meetings, which take place in May, August, November, and February.

Valuation & Dilution

What is the current fair market value of Valon's stock?

We are currently obtaining a new 409a valuation following our Series D close (late November 2025). Our most recent prior 409a valuation was $92.67 as of June 2025, and $129.96 as of November 2025.

Note: the 409a valuation is not the same as the valuation used when investors purchase shares. It is an accounting concept that dictates the strike price for options. Our last fundraise valued each share at $485.9991.

Date	409a Value / Share
Sep 2019	$1.93
Mar 2020	$1.42
Jul 2020	$3.88
Feb 2021	$4.20
Jul 2021	$8.08
Sep 2021	$34.70
Jan 2022	$53.71
Jul 2022	$57.29
Jul 2023	$57.84
Jul 2024	$87.08
Jun 2025	$92.67
Nov 2025	$129.96

What is the current value of the company?

Our last fundraise (Series D) valued Valon at $485.9991 / share (~$2.0B pre-money). Valon's value per share has grown by more than 40x since inception.

How should I think about dilution from round to round?

As of December 2025, Valon has completed four primary rounds of funding and is on track to be cash flow positive in the next 12 months. We intend to be good stewards of capital and to only incur dilution when it helps create more value.

We believe we can reach profitability with our current capital base. We may still raise additional capital to accelerate growth, but we are in the fortunate position of not being beholden to raising additional capital.

Who are Valon's major investors?

Valon has primarily raised funds from venture capital — specifically Andreessen Horowitz and WestCap — and strategic partners NewRez and Freedom.

What is Valon's plan for providing liquidity to employees?

As part of our Series C fundraise, we set aside ~20% of the capital for providing liquidity to current and former employees. We initiated our first tender in May 2025 and again in March 2026, and will continue to provide future liquidity where possible.

Note: it is generally easier (per IRS regulations) to provide tender opportunities for options than for RSUs (because they are double-trigger). Something to consider when making your equity election.

Compensation Philosophy

What is Valon's policy on follow-on grants?

Our goal with follow-on grants is twofold: (1) reward extraordinary performers, and (2) minimize the 4-year cliff dynamic. We provide follow-on grants in two ways:

Upon promotion / role changes: An additional grant based on the equity difference between the new role and the existing role.
Annual performance grants: Starting with your second review cycle, you are eligible for an annual grant based on your performance, with outsized grants for exceptional performers.

Note: at the executive level, refresher grants are given every two years rather than annually, due to the longer cycle nature of those roles.

Have more questions?

Don't hesitate to ask your recruiter!

Last updated April 1, 2026.