I imagine that this equity and board seat distribution could easily happen with a solo founder.
Absent an alternative structure, default corporate laws provide for the directors of a company with only one class of common stock to be elected by majority vote of the stockholders.
However, there are all sorts of alternative structures that can alter this default. For example, it is common in a VC-backed company that preferred stockholders are given the right to designate a specified number of board members. The right is usually laid out in the company's certificate of incorporation or a voting agreement among the stockholders.
Source: I am a startup attorney.
If you are an external member, somebody strategic to the company, you get paid either by meeting or some shares. Usually all board members in public companies are paid with cash.
Replying to the OP a few threads up:
> I assume events (key hires, acquisitions, investments) are brought to the board for a vote, and need to pass with a majority.
There's an extremely common founder misconception that board seats are required for investors to be able to have a say in whether acquisitions and investments happen. But it's not true!
The normal pre-emption rights that every investor gets are what's used for these cases. Board seats are not required for this and unrelated to this.