> Facebook, which acquired the VR company almost exactly three years ago today.
Perhaps Palmer is able to 100% cash out all his stocks/RSUs today so he's out to do something else?
Perhaps Palmer is able to 100% cash out all his stocks/RSUs today so he's out to do something else?
http://codes.findlaw.com/ca/business-and-professions-code/bp...
"For the purposes of this section, “owner of a business entity” means ... or any owner of capital stock, in the case of a business entity that is a corporation.
For the purposes of this section, “ownership interest” means ... or a capital stockholder, in the case of a business entity that is a corporation."
So it certainly seems possible. Note that you would have to "sell or otherwise dispos[e] of all of his or her ownership interest in the business entity" in order for this code to apply. So it sounds like it may be possible for a company to include a non-compete in an offer to buy back your shares.
Again IANAL and this is not legal advice.