Exactly, thats the best way to see it and makes the "Give back our stock" more ridiculous: employees get les money in cash because they decided to invest some part of their salaries in the company shares, so, if the company go to IPO and they get rich they are not geting rich because of how much value they provide to the company, they get rich because they could recognize a great company in the early days and invest on it.
Is like saying to an angel you didn´t help me so much in your mentoring so give me your shares back.
I kind of understand why they want to stop giving them shares, as they no longer need funding from little people.
But it seems a lot like tearing up a term sheet 5 minutes from signing the final contract, just because you managed to shop for a better deal. It might be legal, but it's just not done.
Is like saying to an angel you didn´t help me so much in your mentoring so give me your shares back.