We actually have "stock." Albeit, non-voting shares, but shares. Those shares were rolled into the 401K program but were/are still technically shares. The corporate overlords need control of them in order to sell, giveaway, squander, or enrich themselves. Remember, you could still participate in the 401K once you were no longer employed with Hy-Vee, but your trust fund stock was/is cashed out or rolled over. In short, you can't have a buyout with so much outstanding stock!
Further, the reason all the "Market Grilles" are becoming "Marky Mark Burgers" is to fulfill the contract obligations of the failed "marriage" with the Wahlburglars.
Just my thoughts. Feel free to disagree!