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With no equity comes no control. I would find it very surprising he has no control over the project.

And if he does have control that has value whether you label it equity or not.

It is possible he literally has no control and no financial upside but who would turn down control over what they believed to be a world shaping technology?

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I mean, most non-founder company CEOs don't have a significant % of total equity and they still have control over the company.

They have temporary control that can be taken away. Real control comes from owning more than half of the voting shares.

The parent is a non-profit, hence no equity is required to have control. Seems pretty straightforward to me.

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