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By Ari Levy
Nutanix’s CEO is sweetening the equity pot for employees as the company waits to go public.
Dheeraj Pandey, who co-founded the data storage vendor in 2009 and is its biggest individual shareholder, voluntarily forfeited $17.5 million worth of restricted stock last month, according to Nutanix’s updated IPO prospectus, which was filed late Monday.
By returning stock to the equity pool, the San Jose, California, company has the flexibility to redistribute shares to current and future employees without creating additional shares that dilute existing stakeholders.