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Wait, sorry, what, Matt has an outright majority of the (voting) shares?

That changes everything, he can just fire the board members, he's the actual boss (as shareholder) even when he's also their employee (as CEO).

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it seems like he likely can't just fire all the board members, as some seats may be contractually required to be held by his investors, as part of funding agreements

That depends on the bylaws and specific contractual director-designation rights they may or may not have. Ianal but if he really controls 84% of shareholder votes like he claimed, he should be able to alter the board composition legally. Probably enough to get him unfired

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