whatabackend

I am developer #5 or less at a seed-funded startup dealing with both hardware and software led by an entrepreneur with successful $250M+ exits in the past. I have been the sole developer of the mobile app to a successful launch meeting extreme timelines. Additionally, I have done well beyond my job title by basically PMing or QAing backend developers at times to ensure that features are working properly, ensuring hardware for launches, and spending weekends and nights working.

When I signed on, I had initially wanted more equity than I eventually accepted. One thing that was implied but not directly promised was possibility to refresh back up to original equity to counter dilution if it was thought deserved.

I have decent market salary for my area of $155k and equity .33%. The startup has a pretty good product, and is entering a competitive space. Since they are funded, they could probably afford to find someone to replace me on the mobile app side eventually and cover the other extra things I have been taking care of somehow.

It has been a few months now, and I am not feeling incentivized enough especially with the extra mile that I go for the company because I believe that my equity is too low. After dilution and a series D round, my equity will be diluted down to .11%, which means that a unicorn $1B exit would leave me with "only" $1M for essentially winning the lottery.

I am planning to renegotiate my equity soon. Equity is the main thing I care about, especially since I have been treating the company like I have real stake in it. I will probably ask for .66% more, which is about what being refreshed back to .33% to counter dilution would be equivalent to in the end. However, I get this feeling that the founder will be very resistant to giving out more equity, and it will be very hard to come to an agreement.

What do you guys think? Is my equity is too low? Am I being too greedy? Would like to get your guys' opinion on this situation.