What if an employee sells his or her shares to a rival company?

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And if no liquidity opportunity is presented, the employee may have to hold shares indefinitely, or the company could be required to repurchase shares, which may significantly impact cash flow.

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Clara is sentimental about the Sara Lee shares her father, a longtime employee at the food company, gave her as a college graduation present.

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If you are a current employee or ex-employee who pines for the old days of the company (or still hold shares or options), chances are good you hate an incompetent CEO and board too.

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