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by lacker 1188 days ago
Every for-profit pays its employees, right? I don't think the fact that they make these payments is unusual, they're just making it clear that partners with a stake in the for-profit recuse themselves when the nonprofit is approving these payouts. It's similar to a company CEO not voting when the board approves their own pay package, even though they're a board member.
1 comments

I agree that payments on their own (e.g. salary, bonuses) don't seem counter to the non-profit's interest. But what if we're talking about 100B of equity -- equity that otherwise would have gone to the parent non-profit?