Stripe's $72.45 Mark Clears the Tender. Common Liquidity Is Still Unshown: August 2026

Stripe's current secondary marks sit above its February tender anchor, but the gap is not a common-share bid. Forge shows $72.45 and Hiive shows $71.07; neither public page exposes a common bid, ask, last transaction, share class, instrument, or transaction size. 12

The cleanest benchmark is the arithmetic: Forge's $72.45 derived mark is 16.0% above the $62.47 per-share figure Forge lists for Stripe's February 2026 tender offer. That tender valued Stripe at $159B and provided liquidity to current and former employees, but Stripe's announcement did not disclose offer size or per-share price. 13

The second data point is close, not identical: Hiive's model-derived indicative price is $71.07, 1.9% below Forge's $72.45 mark. Hiive reports 24 live orders but no highest bid, lowest ask, or last transaction on the public page. Both platforms describe their headline prices as indicative or derived, not guaranteed execution. 2

If you hold Stripe common options: $72.45 is a derived mark, not a confirmed sale price. The public record does not show whether either displayed mark refers to common or preferred stock, a direct share transfer, a forward contract, or an SPV. It also does not show approximate transaction size. The preferred-to-common spread is therefore not calculable here. Company approval and transfer restrictions still control whether any sale can close. 12