They will likely also have some level of stock based compensation. On the downside most tech employees can easily find a job elsewhere, whereas the CEO may tak

They will likely also have some level of stock based compensation. On the downside most tech employees can easily find a job elsewhere, whereas the CEO may take a reputation hit that makes it hard to get another position at a similar level. So it probably comes down to the regular employee not valuing downside protection enough to give up some base compensation or upside reward.