Fj, I think some differentiation may be required here. If you are saying that in order to work for a hedge fund you cannot have any private investments, I don't buy that.
I can understand him being required to exercise any outstanding options as this is the sort of investing a hedge fund may do, but I have never heard of an employment scenario that requires you to divest directly held personsl equity investments (POET shares) as a condition of employment.
Can you provide a source for that rule of law/SEC requirement, and I would be curious to read the parameters? Reasonable moving expenses are deductible (see link below) , but I would guess his new employer/partnership would foot a large portion of that bill, and in no scenario would those expenses rise to a level where complete divestment of his POET shares would be needed to cover them.
I know many here defend him as being virtuous for bringing in Ajit and the new management team, and navigating the difficult transition from near liquidation, I view that simply as doing what you are hired to do, but doing so opportunistically at a very steep cost to shareholders and the company via an exorbitant options package.
https://www.irs.gov/publications/p521/ar02.html#en_US_2015_publink1000203509
