I thought a frequent reason for this kind of thing was that they had planned on doing an IPO which would have also let employees sell (eventually, after a locku

I thought a frequent reason for this kind of thing was that they had planned on doing an IPO which would have also let employees sell (eventually, after a lockup period?) but given the current market they're waiting. Also didn't another company recently do this because of some expiring stock options? If employee options expire that's basically a death knell to your ability to recruit and those employees would all hate you and quit. Maybe there's some of that going on here.