Former Parler CEO Matze Stripped of All Company Shares Upon Firing, Sources Say
npr.org
npr.org
This had nothing to do with that. There was a clause (presumably) in his agreements that triggered this. He signed it and most likely also had something to do with it's creation. Don't sign what you don't like. Many employment options as a white collar worker.
I don't know the conditions around the CEO's contract or the amount of say he had in the terms so I won't speculate.
Not that I am saying that it was the case, but hypothetically: If you are grossly negligent or even fraudulent in your behaviour, do you think you are entitled to shares?
Supposedly, C-level positions are highly-rewarded because they are high-risk. Ignoring the political background, if any company had the same development, I would find it only natural that it has repercussions on the CEO, and I wouldn't consider losing all shares completely out of order.
How high would you say the renumeration of Stephen Elop of Nokia fame is appropriate? (https://en.wikipedia.org/wiki/Stephen_Elop#Bonus_controversy)
But quite possibly, I am there in a minority position.
Superficially, I think that if someone owns shares in a company, those are private property. However, there are schemes where it's not a share in the traditional sense of the word (like trade on the open stock market), but a private stock. I was part of a scheme at my previous employer (not the US) where I could buy 'certificates', a bit like stock but it was not publicly traded, it did not give you any voting rights, the price would be set once a year (based on annual results), and it would be bought back (at the last known rate) after your employment. It paid dividends though, and the value appreciated greatly over the span of a few years.
Re: pensions, where I live, pensions and pension funds are completely different entities from the company you work for. You own your pension, your employer pays contributions to it. Since it's not part of your employer, if you get sacked you don't lose your pension. I think that's how it should be tbh.
No. But if someone already earned years on their pension, or earned their shares, they should keep them. If they didn't do what was needed to earn them, they don't get them.
It's the removal of something I do not understand ("X fired, loses pension" is what I see a lot).
I think this person hadn't vested the shares yet, or didn't qualify for exercising their options, etc. There surely is a very detailed contract, it's not something that could be done ad hoc.
In the US, by the way, pensions for around 97 percent of people have been replaced by 401k's, a kind of brokerage account for investing pre-tax income that your employer can contribute to also. It certainly does not get stripped if you leave, though you may need to stay a year before the company will contribute. It is a wholly separate kind of compensation from your stocks.
The video was titled:
China vs. United States COVID-19 with Ping Ping and John Matze
https://www.youtube.com/watch?v=yFwL2K8UitA
And to be honest I was expecting Steve Bannon's War Room like ranting and conspiracy theories coupled with some off the charts nationalism.
However it was nothing like it. He came across as well-reasoned and genuinely curious on what was happening.
Parler is being taken over by monied alt-right people and the founder is being dragged through the dirt and then spit out. Probably a fascinating story there.
is it the same as "alt-left" but with negative sign, like (-)AOC?
Unusual approach in firing, incomplete story, however.