I love how you guys are doing back of the napkin math for the sale of shares while trying to calculate tax rate, tax liability, etc.
For starters all of you math wizards forgot about the exchange rate. This is US taxes which means US currency. Whatever magical number you have take 20% off the top for FX to start with.
Dave is good people. I have done 3 startups with Dave through good and hard times. We have been in the trenches building product, finding customers, learning, doing better, raising money, etc.
He's truthful and honest, he's transparent and accountable. He is 100% above board all the time. You should thank him for the transparency he provided.
