Hi {{first_name}},
Thank you for the offer. I'm excited about [[company]] and the [[job title]] role.
I'd like to discuss the equity component. Based on the stage of the company and the scope of this role, I was expecting closer to [[your target equity amount or range]]. My thinking is based on [[brief reasoning: e.g., "comparable offers at this stage" or "the level of ownership the role requires"]].
Would there be room to adjust the equity grant? Happy to talk this through on a call.
[[Your name]]