Elon Musk has informed X staff about the much-anticipated stock grants, but there’s a catch: employees must submit a one-page summary detailing their contributions to the company to qualify for stock options. This move adds to the existing tension at X, formerly Twitter, especially after recent delays in the promotions process.
If you want your stock, you have to write a one-page document explaining why.
Employees Must Prove Impact for Stock Options
Musk’s new directive means that X staff will have to demonstrate their impact on the company to receive stock options. This requirement comes as employees are already feeling the strain due to delayed promotions and unmet promises regarding stock cash-outs. The latest stock refresh in October 2023 valued the company at $19 billion, a sharp decline from the $44 billion Musk paid for it.
Concerns Over Unfulfilled Promises
In addition to the stock grants, X employees are still waiting for their annual equity refresher, initially promised for April. Musk had assured employees that they could regularly cash out stock, similar to SpaceX staff, but has yet to deliver on this promise. The ongoing uncertainty continues to fuel concerns among the workforce.
