OpenAI has reversed its policies towards secondary share sales, and will now allow current and former employees to participate equally in annual tender offers, CNBC has learned.
Service providers include employees and advisors, OpenAI said in the document, which was viewed by CNBC.
Earlier documents indicated that, for former employees, secondary sales typically took place months after transactions for current staffers.
In at least two tender offers, the limit for former employees was $2 million, compared to $10 million for current employees.
In that case, "we will prioritize giving liquidity to current service providers over former service providers," resulting in a potential "cutback" for those no longer at the company, OpenAI said.
Persons:
OpenAI, didn't
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CNBC, Service, Microsoft, Apple