OpenAI has reversed its controversial stock sale policies, now allowing both current and former employees to participate equally in its annual tender offers, CNBC reports. The change addresses a major concern from ex-employees, who previously faced restrictions on selling their equity. Additionally, OpenAI has removed a provision that allowed the company to repurchase equity from former employees at fair market value. This policy shift comes in response to criticism and demands from former employees, especially following the secret NDA story. The new policies also apply to secondary share sales.
! OpenAI is committing to access to tender offers for former employees and removing a provision allowing them to take equity back for "fair market value". This was a major ask from ex-employees when the secret NDA story first broke. https://t.co/MU77BImOF5
Good to see OpenAI finally walk back their bizarre stock sale policies, which could have been used to prevent former employees from selling their equity in the company. https://t.co/jXk5ckiB9T https://t.co/AIQjBFHotW
Source: OpenAI has changed its policies towards secondary share sales to let current and former employees participate equally in its annual tender offers (@haydenfield / CNBC) https://t.co/bzGp8p45o1 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/xeYHPBhti4
Scoop: OpenAI has reversed course on many of its tender offer policies, which in the past treated current employees differently than former ones & in some ways excluded former employees working at competitors, CNBC has learned, via an internal document. https://t.co/pce0S4rBK4
*OPENAI WALKS BACK STOCK SALE POLICIES: CNBC
'OpenAI walks back controversial stock sale policies, will treat current and former employees the same' - CNBC OpenAI has changed its policies towards secondary share sales to allow current and former employees to participate equally in its annual tender offers, CNBC has…
OpenAI walks back controversial stock sale policies, will treat current and former employees the same https://t.co/fg0ez1kuNx