So execs don't bounce. I left a company because they didn't offer a secondary and i was 3/4 vested with no exit in sight. I had a job offer to another company that promised an IPO in a year. If i would have been paid, i would have stayed but its hard to turning down a "guaranteed" 7 figure pay out. It's a numbers game, 1 out 10 startups will have an exit that makes people money.

It was certainly much more common the last few years. However, those transactions are more of "hey investor, let me sell you some of my shares in this round" and not whatever complex behavior is described in this article.