OpenAI Reverses Stock Sale Policies for Current and Former Employees

Jun 24, 2024, 08:23 PM

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.