OpenAI walks back controversial stock sale policies, will treat current and former employees the same

OpenAI has changed its policies regarding secondary share sales. Current and former employees will now have equal opportunity to participate in annual tender offers. Previously, OpenAI had a restrictive approach, allowing the company to determine who could participate in stock sales. The change in policy was communicated through OpenAI’s equity administration software. This alteration addresses concerns among shareholders about their ability to access liquidity for their equity. The change also includes the removal of a provision that allowed the company to forcibly repurchase shares. Former employees who now work at competitors will also be included in official tender offers. The only exception is if a tender offer is oversubscribed, in which case current employees will be given priority. The reversal of policies aims to alleviate fears among employees and provide more transparency in equity purchases. The article does not address the issue of donation rounds for former employees.