GoKawiilBlue Origin released details about a new stock option plan in an internal communication on Tuesday.
Ars was able to review the materials and connect with some employees to gather their thoughts. Some of the early reviews are not positive, with one employee going so far as to describe the plan as “pure f—king trash.” And it’s not hard to see why some people feel gun-shy or disillusioned. The company’s previous stock plan, which ended up being essentially worthless, fostered a lack of trust.
However, a careful reading of the new documents, compared to the original plan, indicates that it has a more serious intent. It is set up in a similar manner to other stock option plans in the industry. If Blue Origin founder Jeff Bezos genuinely wants to course correct from Blue Origin’s initial stock plan—to right the wrongs perceived by his employees—this could be a vehicle for that.
And it is important for Bezos to get this right. Blue Origin is revamping its stock option program at a critical time for its operations, seeking to ramp up the launch cadence of its New Glenn rocket program and compete with SpaceX to build a lunar lander for NASA’s Artemis Program. Blue Origin needs its workforce bought in for demanding days ahead.
There is also the not inconsiderable matter of SpaceX’s impending initial public offering, which will instantly make thousands of employees of Elon Musk’s company millionaires and give them a legitimate chance to cash in their options.
A lot of people at Blue Origin feel strongly about the company and its mission, but many have a fear of missing out when it comes to life-changing wealth being accrued by their peers.