I think selling collars is a reasonable thing to do. However, I won't do until you've actually been there a year and collected your first group of RSU for reasons discussed possible job lost and margin requirements, and also legal issues. Think of options as insurance, if the level of risk you have owning a significant number of company shares makes you uncomfortable, then purchasing insurance especially when it is low cost makes sense. But you don't actually have the stock today, and just as you won't buy auto insurance for the expensive car that your parents said they'd give you next year, until you took possession you shouldn't be worrying about collars now.