Things perhaps could've been different if they'd pointed to the founding principles / charter and said the board had an intractable difference of opinion with Sam over their interpretation, but then proceeded to thank him profusely for all the work he'd done. Although a suitable replacement CEO out the gate and assurances that employees' PPUs would still see a liquidity event would doubtless have been even more important than a competent statement.

Initially I thought for sure Sam had done something criminal, that's how bad the statement was.