Yeah I guess the execs are a little different, but my point is that the same thing would happen to any white collar employee (lose all their shares, etc).
White collar workers can unionize if they want to.
This had nothing to do with that. There was a clause (presumably) in his agreements that triggered this. He signed it and most likely also had something to do with it's creation. Don't sign what you don't like. Many employment options as a white collar worker.