tl;dr I think this is a fair offer if the startup isn't profitable yet. If they are profitable, you could probably get more base salary as they should start allocating some of their profit towards talent retention. At a $300M valuation, I'd guess this is at least Series B if not C? That explains the relatively small share (0.05%) and also why they're giving you a good deal on the strike price. The big question to understand on the equity is how much more dilution will there be before exit and how likely is a positive exit? Are they making a profit already, or what does the path look like to get there? How many more funding rounds do they think they'll need? What is their plan for an exit? If you're currently remote, I'd run the math on your commuting costs because that might soak up a lot of that $10k bump on base salary. Personally I wouldn't stop being remote unless forced or to get a substantial raise in salary - $10k wouldn't cut it. Sounds like a hardware-focused startup so office time isn't a surprise, but my opinion is "every day" is still too much and makes me think management has old school opinions about managing workers. If they aren't profitable yet, it could be hard to give you more base and then their offer is more defensible; you'll have to decide if it's worth it for you.

Thanks for the detailed response! I talked to the recruiter last Thursday and brought up my concerns about the on-site requirement and the low base salary. She said she’d get back to me and might increase the base and stock options. But as you pointed out, since they’re a hardware company, there’s not a ton of flexibility. The best they could probably offer is a 4-day workweek. I told her my current base is $210K, so they might try to match it, maybe with $190K plus a 15% bonus. About the stock, she said they’re committed to not diluting employee shares, which they consider super important. Overall, they seem to be doing well with multiple projects coming in, and I feel like they’re on track to become big—maybe even a unicorn. The co-founders have experience with IPOs and acquisitions, so they seem to know what they’re doing.