SpaceX's market cap has lost about $1 trillion in value since its June 16 peak and hit a new low since its record-breaking IPO.
  • wewbull@feddit.ukEnglish
    0·
    1 day ago

    Is that going to be 20% of stock held by each employee can be sold, or 20% of employees can sell their stock?

    If it’s the latter then yes, I can see them cashing out and leaving.

      • wewbull@feddit.ukEnglish
        1·
        9 hours ago

        That doesn’t make sense so I went and looked it up.

        According to the S-1 filing of SpaceX, shareholders (which include employees with stock) can sell up to 20% of their stock starting on the second full day of trading after the company releases its first earnings report.

        So each employee can sell 20% of their stock (probably options, but since they’ve had an “Employee Share Purchase Plan” (ESPP) some will hold actual shares). If 80% of someone’s holdings are dependent on them staying at SpaceX I doubt many will leave after selling 20%.