SpaceX 'dishonest' employees stock

Leaked SpaceX documents have revealed that the company imposes strict conditions on its employees regarding the sale of their stock, particularly if the company deems that they have engaged in "dishonest" behavior. According to a report by TechCrunch, SpaceX requires employees to agree to terms that could significantly impact their ability to sell vested shares. One notable provision allows SpaceX to repurchase vested shares within a six-month period and gives the company the right to ban past and present employees from participating in tender offers if they are deemed to have acted dishonestly, among other reasons. This policy means that if an employee is barred from selling stock in tender offers, they would have to wait until SpaceX goes public to realize any cash from their shares, a timeline that remains uncertain1. SpaceX includes stock options and restricted stock units (RSUs) as part of its compensation package, a common practice among tech companies to attract top talent. However, unlike stock in public companies, stock in private companies like SpaceX cannot be sold without the company's permission. SpaceX typically holds buyback events twice a year, allowing employees to liquidate assets that have likely appreciated since their vesting date. Despite these opportunities, the additional terms attached to employee stock compensation at SpaceX have raised concerns. For instance, if an employee is fired "for cause," SpaceX has stated it can repurchase their stock for a price of $0 per share1. These terms have been described as keeping everyone under SpaceX's control, even after they have left the company, as employees do not want to be forced to return their valuable SpaceX stock for no compensation. Furthermore, SpaceX has been known to enforce a non-disparagement agreement upon employees' departure, using either incentives or penalties1. In addition to these stock-related policies, SpaceX has faced criticism and legal challenges on other fronts. For example, a SpaceX employee filed a lawsuit against the company for alleged sexual discrimination and retaliation, among other violations. The lawsuit claims that the employee was paid significantly less than her male counterparts, denied deserved promotions, and subjected to workplace harassment5. These revelations about SpaceX's treatment of employees, both in terms of stock compensation and broader workplace issues, highlight the complex and potentially contentious relationship between the company and its workforce.
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