New Delhi: OpenAI CEO Sam Altman on Sunday clarified that the company has never clawed back any employee’s vested equity and will never do such a thing in the future. Altman responded to a media report that claimed that the ChatGPT maker revoked employees’ vested equity (or stock options) in the company, following two high-profile departures.
Altman said that they would never do this “if people do not sign a separation agreement (or don’t agree to a non-disparagement agreement)”. “Vested equity is vested equity, full stop,” he posted on X social media platform.
in regards to recent stuff about how openai handles equity:
we have never clawed back anyone’s vested equity, nor will we do that if people do not sign a separation agreement (or don’t agree to a non-disparagement agreement). vested equity is vested equity, full stop.
there was… — Sam Altman (@sama) May 18, 2024
According to him, there was a provision about potential equity cancellation in the company’s previous exit documents. “Although we never clawed anything back, it should never have been something we had in any documents or communication. This is on me and one of the few times I’ve been genuinely embarrassed running OpenAI. I did not know this was happening and I Should have,” he explained.
Altman said that the team was already in the process of fixing the standard exit paperwork over the past month or so. “If any former employee who signed one of those old agreements is worried about it, they can contact me and we’ll fix that too. Very sorry about this,” he posted.