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Shareholders' agreement

Also called: stockholders agreement, SHA

In one line

The contract among a company's shareholders setting out rights and restrictions — including how and when shares can be transferred.

In plain English

This is the master agreement that governs your shares: transfer restrictions, ROFR, co-sale, drag/tag-along and more. It's the first document to read before planning any sale.

If you were explaining it to a 5-year-old

The club's big rulebook that everyone who owns toys has signed, saying what you can and can't do with them.

Why it matters when you sell

Your ability to sell is defined here. Reading it tells you the exact hoops a secondary must clear.

Related terms

Transfer restrictionRight of first refusal (ROFR)Co-sale rightDrag-along rightGrant agreement

Put it to use

Can I sell before exit?

Hold private-company shares? Our free estimator shows what your stake could be worth and whether you can sell — no sign-up. Value my equity (free) → · Back to the glossary →
When you're ready to go deeper, there's an optional Equity Toolkit and Report.

Sources

A general market-practice term. See how we define and source the glossary in our methodology. General information, not advice.

Educational information only — not financial, tax or legal advice, and not an offer to buy or sell any security. Definitions are general; your own documents and local law govern your situation. PrivateTechShares is independent and not a broker or marketplace.