the issue here is owner compensation, not CEO compensation. that is, wealth accrued by virtue of "owning" a company that other people are merely "employees" adding value to, but not receiving any of that value.
That language is based on the assumption that they're not already being compensated.
Their compensation is what they agreed to accept as payment for their labor. So they're already being compensated. If they want to "own" part of the company outside of this agreement, they need to buy a piece of it. If you want that as part of your employment agreement, negotiate it beforehand, either individually, or as part of a union effort. If you can't negotiate it through those efforts, then accept the fact that the employer believes they can get a better deal on the labor.
Some employees negotiate contracts where they are paid partially or fully in stock. Other employees negotiate contracts where they are paid all in cash. A lot of people don't want to wait for a payout or take on risk.