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SpaceX stock drops to a new low and loses $1 trillion in value in a month (www.businessinsider.com)
submitted 1 month ago by to c/technology@lemmy.world
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[–] 0 points 1 month ago (3 children)

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.

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  • [–] 2 points 1 month ago (2 children)

    20% of all stocks, specifically those held by employees.

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  • [–] 1 point 1 month 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%.

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