I am a little baffled by the taxation explanation and the implied tax bill. The ann says, he needs to pay tax on both tranches. Since he's realised a profit on the second set of options by selling them, I understand the tax there, but why would Larry have to pay tax on share's he's just purchased if he doesn't intend to sell?
And, why wouldn't he have just exercised the first set of options and left the second tranche to just wait until 2016? Then in 2016, sell a few to cover the additional $560k for the second tranche and proportionate tax bill (if cash flow is really that tight). Surely NEU/a bank could have funded a loan for options that are outrageously in the money if he really didn't have a $ to spare.
Happy to see Lang Walker take them, but would have preferred Larry to keep the whole lot. All looks a bit odd. WDOT?
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