Elon Musk has set a new condition for X employees to earn stock options: they need to prove their worth. According to an email sent to X staff, obtained by The Verge, the company plans to award stock options based on employees’ anticipated impact. To receive their stock, employees must submit a one-page summary detailing their contributions to the company.
These stock grants have been long-awaited and come during a time of rising tension between X leadership and staff. Recently, X delayed its promotions process without explanation, adding to employee frustrations. Under Musk’s ownership, the company, formerly known as Twitter, has faced ongoing struggles, and employees have been preparing for potential layoffs.
Adding to the uncertainty, a source at X told The Verge that the company still owes employees their annual equity refresher, which was originally due in April. Musk had previously promised employees they could regularly cash out their stock, similar to what is offered at SpaceX. However, this promise has not yet been fulfilled.
The last stock refresh for X employees took place in October 2023, with the company valued at $19 billion — a sharp decline from the $44 billion Musk paid for it. During that refresh, employees received restricted stock units (RSUs) priced at $45 per share. Musk’s latest move to tie stock options to perceived contributions has left employees waiting to see if their efforts will be recognized, amid growing concern over the company’s stability and future.
