- Board is mostly independent and those independent dont have equity
- They talk about not being candid - this is legalese for “lying”
The only major thing that could warrant something like this is Sam going behind the boards back to make a decision (or make progress on a decision) that is misaligned with the Charter. Thats the only fireable offense that warrants this language.
My bet: Sam initiated some commercial agreement (like a sale) to an entity that would have violated the “open” nature of the company. Likely he pursued a sale to Microsoft without the board knowing.
Hell, some prominent tech people are often loudly wrong, and loudly double down on their wrong-ness, and still end up losing very little of their political capital in the long run.
Or maybe he's right. We don't know, we're all just reading tea leaves.