S-1 states directly that some of the shares sold in the IPO are sold by current shareholders.
Employees are a different matter, lockouts are for them not quitting immediately. My bet is that a few of high profile departures recently is exactly for this reason: no lockout if you aren't employed anymore.
I don't think former employees being exempt from the lockout period is a typical arrangement at all.
> no lockout if you aren't employed anymore
But, I imagine, no stock either?
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