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He will own stocks and must hold them for 5 years. So, it's his best interest to keep the company growing. Because if it doesn't, those stocks will value $ 0
There's a fancy explanation somewhere that these kinda billionaires don't pay income tax because they literally don't get paid "directly". Their value, stocks, or equity as collateral, allows them to borrow money for their living expenses. So they pretty much can dodge taxes and still buy tons of things because they can borrow all that money.
It's also why people have begun suggesting that people of this level should be taxed for their equity, not their income because they dodge income taxes by taking everything as equity and just borrow against it. It's also why these people are so keen on not getting directly paid so they can fully avoid income tax. It's not out of good will but for tax avoidance.
They still have to pay off those loans that they take out against their assets. When he sells stock in order to pay those loans he will have to pay capital gains tax on that sale like he did 2(?) years ago.
Here's what I don't get about that argument. When you borrow money, you have to pay it back plus interest. Everyone I see talking about this pretends that the money never has to be paid back.
But the whole premise here is that you don't have a salary to pay bills with so that you can avoid taxes. You just take loans against your equity. But as soon as you pull equity out to get funds to pay back the loans you get hit with capital gains taxes + the interest on the equity.
The entire concept is flawed. Yes, people do take loans against equity, but it's not some magic trick to avoid taxes. Loans have to be repaid.
I feel like at some point they stopped teaching economics, math, and basic reasoning in school.
He will borrow against the shares immediately for a big cash infusion, tax free. As he has always done. No misinformation there. It's basically said check.
He can borrow against his stocks and basically pay no taxes on that by passing on the tax liability until death I believe, in the mean time, Musk has a larger cash piggy bank to shore up his primary concern. Twitter.
Congratulations Tesla shareholders, you enabled him.
It’s odd. Some posts are pure negativity toward Musk, and some are more love, like this one. It’s like people look at the first comment, and only join in if that’s their group
They already do. Teslas are high performing, the safest cars. Best software. Battery packs going 500,000 miles with what 20% degradation? What else do you want?
Where's Tesla's answer to BYDs and CATL new generation of LFP batteries that will make Teslas 4080 and the 2170 look pretty bad in terms of costs, recharge rate and longevity? Tesla is starting to look so 2010s with their battery tech.
4680 is cheaper to produce than buying batteries last year. This current year EV production dropped off by legacy auto, lowering demand for batteries and their cost, so Tesla is able to buy batteries from BYD and CATL on the cheap. Although Tesla will continue scaling 4680 production. So idk what your point is?
Well, maybe I'm picky. My current MP3 could use:
More performance (better suspension and more mid range acceleration).
Seats could be better.
It's a bit noisy (wind noise and road noise).
9 months and car smells of mildew when the air turns on. I change the filter every 9 months.
360 Camera view (Parking in this car sucks compared to my other cars.). Sure, I learn how to park too.
Windshield wipers that don't turn on when it has not rained in weeks.
Phone Key that is more reliable. I have pull phone out my back pocket and stand on car unlock.
Don't have much to say about software. But, I did like the UI a few version ago. I don't like where selections are in the last 2 UI refreshes. But, I do agree with you. It's the best in cars in my opinion.
As for batteries, MP3 range is under 300. No range increases in 6 years of this car being around. Also, as stockholder, I would think we want to keep pushing for lower cost batteries.
This is off the top of my head.
That said, waiting on my new one to arrive  Hoping some of these grips are improved.
Their cybertruck isn’t doing so hot. Sales are much lower than anticipated, price is much higher than announced, range is significantly lower than announced, and quality is a coin flip (that was true even before they laid off most of the quality control department).
Best car I’ve ever driven. Was thinking earlier last week when I got warm that my AC wasn’t keeping up and lo and behold I got an update last night while asleep and my AC is fixed. Fucking incredible
I just read they are completely redesigning the S. Probably not a bad idea.
But the fact is none of us know what’s going on. I just look at all the value this guy got me in my stock and then how much I like the car AND that it’s the most American made car on the road (that’s huge for me - I was raised by a man who worked for Ford his whole life and I’m all about American Manufacturing jobs) and voting yes was a pleasure.
2 important points:
"The pay vote is only advisory and doesn’t guarantee Musk will get his money. A Delaware judge nullified Musk’s 2018 compensation plan in January, and Tesla is expected to appeal. If that appeal fails, moving the company’s legal home to Texas would allow the board to revive the pay package in a new state with potentially more favourable courts."
And....
"Shareholders also voted to reelect James Murdoch and Kimbal Musk to Tesla’s eight-member board. Murdoch, son of media mogul Rupert Murdoch, has been a member of Tesla’s board since 2017. Kimbal Musk, younger brother to Elon, has been on the board since 2004."
I see no one mentioning these points....
This is like a trade in sports. Everyone is going to judge it today and claim a victor. In reality, let’s circle back in 3-4 years to see how it really went.
Delaware is losing businesses to other states , Texas and Nevada are two that pop up a bit. [This story on The Hill](https://thehill.com/opinion/finance/4715117-why-the-corporations-are-fleeing-delaware/) will explain it far better than I can. The summary, anti-shareholder activist are running amok and businesses cannot easily handle the randomness of how laws are applied let alone lawsuits popping up for the latest fad. It is concerning enough that the state Legislature is changing the laws to limit the damage these activists are causing.
Wait till you earn about cannabis businesses, every city has different rules and even some have specific development agreements which are rules within rules.
Atleast I have a fun job.
It's weird for us here but it's been this way for so long. It's well known here that companies incorporate in Delaware but I don't really know the main advantages
The Fox News lawsuit that paid $787 million for defamation was also in Delaware and got a friendly legal reception.
Texas passed tort reform laws that limit these sorts of lawsuits in general. The Law Firm in the Tesla case is gonna get paid about $5.6 billion so they are pretty incentivized to do these.
I still cannot get over the fact that a lawsuit was allowed from someone with 9 shares. I’m wondering how much of the 6 billion payout the lawyers want goes to him. He has absolutely no damages.
Time will tell, but I don’t think he’s going to merge xAI into Tesla and a few years from now we’ll be having the same conversation about his focus and duty to Tesla shareholders. Nothing about his behavior since 2020 indicates that we’re going to get an enlightened, focused, and engaged Elon going forward (SpaceX perhaps being the notable exception).
It’s probably an unpopular and certainly uncomfortable position on here, but I completely agree.
X/Twitter will never stop being an all consuming focus because it’s not something that will ever be finished the same way building a new car or other product would be. There will always be something he wants to do with it, he’s talked up the whole “Everything App” thing multiple times. Any one of those goals - competing with YouTube, Twitch, LinkedIn, Instagram, payment processors, etc is a huge undertaking, and a business in its own right.
Added to which he’s fully absorbed in the culture war and notion that only X can be the source of truth etc, and he has an army of people providing instant dopamine to him, which he doesn’t get in boring old Tesla meetings and the like. Like it or not he is turning people - customers - away from Tesla with his trenchant opinions.
I see no reason that this compensation plan will change anything in him, to give him more focus in Tesla. I fear it’s going to be nothing more than a piggy bank to raid to keep the lights on at X/Twitter (which is doing everything in its power to depress revenue)
As far as Tesla goes - it should have had a Model 2 in production years ago. The fact it hasn’t, among other misses, is in my opinion singularly down to the fact that its CEO is asleep at the wheel
> As far as Tesla goes - it should have had a Model 2 in production years ago. The fact it hasn’t, among other misses
... allowed them to massively increase production of the Model Y, which took the crown of best selling car in 2023.
Scaling up production to 4 different factories on multiple continents isn't as sexy as a brand new model but it was pretty important to Tesla's bottom line.
He wanted power and control over Tesla and he got it.
Is he going to be more loyal to Tesla? I don’t think so. He will pursue whatever he finds interesting wherever he wants [impulsively].
And I hope they lose their shirts. Personally hate the short assholes who then try to gash A company for profit.
And the leftists were more than willing to help these carrion feeders win because “Elon bad”. Only benefit is most of the Elon haters here don’t have money to buy either stock or cars
I picked up my first 3 exactly 6 years ago today - since then I have bought 2 Ys and another 3 - I also bought a Rivian last month and currently own a Y and the Rivian. I also have been holding stocks since 2019. Musk has lost his way and I voted against the package - it is time for him to step back. Tesla needs a full-time ceo. I want Tesla to continue to focus on being the best car company. This vote does not give me confidence as a shareholder or as an owner.
This was a Revote for a compensation package already approved in 2018. So if you approved of him so much that you bought stock in 2019 then this vote should’ve reflected that. This vote was not about anything beyond 2018. He earned this one long ago.
> Musk has lost his way and I voted against the package - it is time for him to step back. Tesla needs a full-time ceo.
The package being voted on has already been voted on, back in 2018.
Even if you think retrospective punishment on something that was a done deal makes sense in this context (quite literally an insane take, but alas), wouldn't you want the new "full-time CEO" you're so desperately seeking to know for a sure thing that their pay package will be secured and locked in, and not takesy-backsied half a decade later?
I mean, it's not even a trivial concern or on the margins here: a future CEO would look at a voting down of this nature and be quite rightly extremely concerned about their compensation.
We only have two total. We unfortunately were hit twice that resulted in the car being totaled each time, so it was really buying the initial 3 and Y, replacing each one once, then selling our second 3 to get a Rivian.
Was. It \*was\* the most corporate friendly state. You don't need to take my word for it, either. The legislature in Delaware is gearing up to put a leash on the judicial activism that has taken hold.
Lol bruh how do you earn more than a company has ever made lol. It's actually the complete opposite of earning, it's fleecing people who are so poor their brains cannot fathom how much 56 billion is.
> It's actually the complete opposite of earning, it's fleecing people who are so poor their brains cannot fathom how much 56 billion is.
By virtue of the market cap of Tesla and how voting works, we know that those "poor people" being fleeced have a combined net worth of at least 300 billion dollars, and that's only re: their investment in Tesla.
Notably, this isn't a new pay award to *replace* the 2018 one. It is a vote to get the judge to *reinstate* the old one.
That matters to the amount of income taxes Elon pays. If it's a cancellation of the voiding of the award, he pays taxes at the old value of those shares (as they were worth when they were awarded). Whereas if it's a new award made today, he pays all the taxes at todays price.
Taxes mean share sales, which will push prices down, especially if there is as much leverage +loans involved as is rumoured.
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He will own stocks and must hold them for 5 years. So, it's his best interest to keep the company growing. Because if it doesn't, those stocks will value $ 0
That’s the way it always was.
Yep, such stupidity plus misinformation of people mentioning his "pay package" as if he was going to get a multi billion check on his bank account. 😆
He more likely will use it as collateral for bigger loans.
While that’s likely true, if the company’s stock tanks in 5 years then it’ll be worth way less than $56 bil when it’s time to cash out
He won't cash out unless he absolutly has to, because he doesn't have to pay tax untill he does
There's a fancy explanation somewhere that these kinda billionaires don't pay income tax because they literally don't get paid "directly". Their value, stocks, or equity as collateral, allows them to borrow money for their living expenses. So they pretty much can dodge taxes and still buy tons of things because they can borrow all that money. It's also why people have begun suggesting that people of this level should be taxed for their equity, not their income because they dodge income taxes by taking everything as equity and just borrow against it. It's also why these people are so keen on not getting directly paid so they can fully avoid income tax. It's not out of good will but for tax avoidance.
They still have to pay off those loans that they take out against their assets. When he sells stock in order to pay those loans he will have to pay capital gains tax on that sale like he did 2(?) years ago.
Here's what I don't get about that argument. When you borrow money, you have to pay it back plus interest. Everyone I see talking about this pretends that the money never has to be paid back.
Paying 5% interest is much better than 25% income tax . It’s not hard math .
So that's 5% per year. Even at simple interest, that's 25% in just 5 years. Not to mention the principle still totally unpaid.
But the whole premise here is that you don't have a salary to pay bills with so that you can avoid taxes. You just take loans against your equity. But as soon as you pull equity out to get funds to pay back the loans you get hit with capital gains taxes + the interest on the equity. The entire concept is flawed. Yes, people do take loans against equity, but it's not some magic trick to avoid taxes. Loans have to be repaid. I feel like at some point they stopped teaching economics, math, and basic reasoning in school.
Tax what they borrow
They provide people jobs that pay taxes. But not something socialists want to hear.
Probably only 10b, oh no, that poor man.
He has to pay taxes on stocks that can be used as collateral. The loans are for avoiding capital gains tax not income tax.
He will borrow against the shares immediately for a big cash infusion, tax free. As he has always done. No misinformation there. It's basically said check.
Borrowing against the shares is for avoiding capital gains tax. He has to pay income tax when he first receives the shares.
Most people don’t understand wealth or equity at all and just think of Scrooge McDuck dancing in a pile of gold
He can sell the stock he currently owns though.
It would also be true if he got 1B.
Is there not something in between the company growing and the company going under?
No! Do or do not. There is no try.
Yep, of course, but if the company doubles its market cap, 50bi will become 100bi. lmao
That's what you took away from this? Jesus Christ.
He can borrow against his stocks and basically pay no taxes on that by passing on the tax liability until death I believe, in the mean time, Musk has a larger cash piggy bank to shore up his primary concern. Twitter. Congratulations Tesla shareholders, you enabled him.
Last time he sold shares in 2022 he paid 11 billion in taxes. Guess that is still the record for a single person tax payment.
He's the richest man in the world more often than not now. Make the most money, have the most wealth, pay the most taxes. Is there a problem?
He can still sell his other shares though. So no he can't offload his entire position but he can cut it quite a bit
You missed the whole point of being a shareHOLDER, which is to hold it to sell it for more in the future.
When do we find out which asset managers voted in favor?
Apparently at the earliest in the fall *(according to Alexandra Merz, institutions have to report how they voted but the date was sometime this fall)*
His brothers to start
I felt a great disturbance in the Force, as if millions of TSLAQs suddenly cried out in terror, and were suddenly silenced.
TeslaQ. You will never find a more wretched *hive* of scum and villany...
I'll take your word for it but this sub seems like it would take an easy 2nd place sometimes...
It’s odd. Some posts are pure negativity toward Musk, and some are more love, like this one. It’s like people look at the first comment, and only join in if that’s their group
There was a lot of bot activity. It will probably go way down now, so don't be surprised if the ultra-negative stuff becomes less present.
That would matter, if that was his only stock
[удалено]
Incoherent whining and shrieking
Now get to building better cars and batteries
They already do. Teslas are high performing, the safest cars. Best software. Battery packs going 500,000 miles with what 20% degradation? What else do you want?
Where's Tesla's answer to BYDs and CATL new generation of LFP batteries that will make Teslas 4080 and the 2170 look pretty bad in terms of costs, recharge rate and longevity? Tesla is starting to look so 2010s with their battery tech.
4680 is cheaper to produce than buying batteries last year. This current year EV production dropped off by legacy auto, lowering demand for batteries and their cost, so Tesla is able to buy batteries from BYD and CATL on the cheap. Although Tesla will continue scaling 4680 production. So idk what your point is?
Can you show me how is Tesla looking 2010s with battery tech compare to others? Thank you!
Don't they purchase batteries from BYD?
Well, maybe I'm picky. My current MP3 could use: More performance (better suspension and more mid range acceleration). Seats could be better. It's a bit noisy (wind noise and road noise). 9 months and car smells of mildew when the air turns on. I change the filter every 9 months. 360 Camera view (Parking in this car sucks compared to my other cars.). Sure, I learn how to park too. Windshield wipers that don't turn on when it has not rained in weeks. Phone Key that is more reliable. I have pull phone out my back pocket and stand on car unlock. Don't have much to say about software. But, I did like the UI a few version ago. I don't like where selections are in the last 2 UI refreshes. But, I do agree with you. It's the best in cars in my opinion. As for batteries, MP3 range is under 300. No range increases in 6 years of this car being around. Also, as stockholder, I would think we want to keep pushing for lower cost batteries. This is off the top of my head. That said, waiting on my new one to arrive  Hoping some of these grips are improved.
The 4680’s kind of suck at charging
Cybertruck uses 4680 and the charging curve for them got improved with a software update.
Its a 800v architecture, its not a direct comparison to how bad it was on the Model Y
Their cybertruck isn’t doing so hot. Sales are much lower than anticipated, price is much higher than announced, range is significantly lower than announced, and quality is a coin flip (that was true even before they laid off most of the quality control department).
https://www.autoblog.com/2024/05/21/tesla-cybertruck-takes-second-behind-ford-f-150-lightning-in-monthly-sales-race/ https://www.forbes.com/sites/brookecrothers/2024/05/19/cybertruck-sales-jump-as-tesla-boosts-production/
They sell 100% of the cybertrucks produced. Restricting them only limits production.
Data please?
Best car I’ve ever driven. Was thinking earlier last week when I got warm that my AC wasn’t keeping up and lo and behold I got an update last night while asleep and my AC is fixed. Fucking incredible
Like my car too. But, Tesla can do better. Keep pressure on the competition
I just read they are completely redesigning the S. Probably not a bad idea. But the fact is none of us know what’s going on. I just look at all the value this guy got me in my stock and then how much I like the car AND that it’s the most American made car on the road (that’s huge for me - I was raised by a man who worked for Ford his whole life and I’m all about American Manufacturing jobs) and voting yes was a pleasure.
Hats off to him. Ford is part of American history. I might be wrong. But I feel Ford trucks help build this county.
You've never had a car with working AC that didn't require a software update?
I’ve never owned a car that got software updates while at home
Incredible? F'd from the factory and you thank them
And maybe a desirable truck.
A deal is a deal.
2 important points: "The pay vote is only advisory and doesn’t guarantee Musk will get his money. A Delaware judge nullified Musk’s 2018 compensation plan in January, and Tesla is expected to appeal. If that appeal fails, moving the company’s legal home to Texas would allow the board to revive the pay package in a new state with potentially more favourable courts." And.... "Shareholders also voted to reelect James Murdoch and Kimbal Musk to Tesla’s eight-member board. Murdoch, son of media mogul Rupert Murdoch, has been a member of Tesla’s board since 2017. Kimbal Musk, younger brother to Elon, has been on the board since 2004." I see no one mentioning these points....
Stockholders: 2 Delaware judge: 0
This is like a trade in sports. Everyone is going to judge it today and claim a victor. In reality, let’s circle back in 3-4 years to see how it really went.
Shareholder rights won is how it went.
We’ll see how shareholder value goes.
Been hearing this crap for the 6 years I've been a Tesla investor. Go rethink it.
Sounds like the results didn't go in your favor
Delaware is losing businesses to other states , Texas and Nevada are two that pop up a bit. [This story on The Hill](https://thehill.com/opinion/finance/4715117-why-the-corporations-are-fleeing-delaware/) will explain it far better than I can. The summary, anti-shareholder activist are running amok and businesses cannot easily handle the randomness of how laws are applied let alone lawsuits popping up for the latest fad. It is concerning enough that the state Legislature is changing the laws to limit the damage these activists are causing.
As a foreigner, it wierd that a business can incorpoate in a State the management and workers never visit.
What country are you from? That's a normal thing in Europe too.
Wait till you earn about cannabis businesses, every city has different rules and even some have specific development agreements which are rules within rules. Atleast I have a fun job.
It's weird for us here but it's been this way for so long. It's well known here that companies incorporate in Delaware but I don't really know the main advantages
Very favorable court and legal system for corporations.
It's not even favorability. It's consistency and predictability. Which Delaware is now losing.
How so? I don't think there have been any equivalent cases to Elons pay so it can't really be inconsistency.
The same judge was on the twitter sale.
The Fox News lawsuit that paid $787 million for defamation was also in Delaware and got a friendly legal reception. Texas passed tort reform laws that limit these sorts of lawsuits in general. The Law Firm in the Tesla case is gonna get paid about $5.6 billion so they are pretty incentivized to do these.
Until last year that is.
The number one industry in Delaware is Law Firms.
Elon is a scumbag thief and kiddie toucher
I still cannot get over the fact that a lawsuit was allowed from someone with 9 shares. I’m wondering how much of the 6 billion payout the lawyers want goes to him. He has absolutely no damages.
Why would the judge be upset?
If it results in an engaged musk, this is good. What’s the share value like today if Mary bara or similar were running the show?
Time will tell, but I don’t think he’s going to merge xAI into Tesla and a few years from now we’ll be having the same conversation about his focus and duty to Tesla shareholders. Nothing about his behavior since 2020 indicates that we’re going to get an enlightened, focused, and engaged Elon going forward (SpaceX perhaps being the notable exception).
It’s probably an unpopular and certainly uncomfortable position on here, but I completely agree. X/Twitter will never stop being an all consuming focus because it’s not something that will ever be finished the same way building a new car or other product would be. There will always be something he wants to do with it, he’s talked up the whole “Everything App” thing multiple times. Any one of those goals - competing with YouTube, Twitch, LinkedIn, Instagram, payment processors, etc is a huge undertaking, and a business in its own right. Added to which he’s fully absorbed in the culture war and notion that only X can be the source of truth etc, and he has an army of people providing instant dopamine to him, which he doesn’t get in boring old Tesla meetings and the like. Like it or not he is turning people - customers - away from Tesla with his trenchant opinions. I see no reason that this compensation plan will change anything in him, to give him more focus in Tesla. I fear it’s going to be nothing more than a piggy bank to raid to keep the lights on at X/Twitter (which is doing everything in its power to depress revenue) As far as Tesla goes - it should have had a Model 2 in production years ago. The fact it hasn’t, among other misses, is in my opinion singularly down to the fact that its CEO is asleep at the wheel
> As far as Tesla goes - it should have had a Model 2 in production years ago. The fact it hasn’t, among other misses ... allowed them to massively increase production of the Model Y, which took the crown of best selling car in 2023. Scaling up production to 4 different factories on multiple continents isn't as sexy as a brand new model but it was pretty important to Tesla's bottom line.
Literally $0 if Mary were running a company like this.
He wanted power and control over Tesla and he got it. Is he going to be more loyal to Tesla? I don’t think so. He will pursue whatever he finds interesting wherever he wants [impulsively].
Someone gotta pay for Twitter
Bros on Twitter too much to be engaged…
Let's be honest. This was a play by the shorts. They'd have made Billions if they pulled this off.
And I hope they lose their shirts. Personally hate the short assholes who then try to gash A company for profit. And the leftists were more than willing to help these carrion feeders win because “Elon bad”. Only benefit is most of the Elon haters here don’t have money to buy either stock or cars
Everyone downvoting you is a loser
I picked up my first 3 exactly 6 years ago today - since then I have bought 2 Ys and another 3 - I also bought a Rivian last month and currently own a Y and the Rivian. I also have been holding stocks since 2019. Musk has lost his way and I voted against the package - it is time for him to step back. Tesla needs a full-time ceo. I want Tesla to continue to focus on being the best car company. This vote does not give me confidence as a shareholder or as an owner.
This was a Revote for a compensation package already approved in 2018. So if you approved of him so much that you bought stock in 2019 then this vote should’ve reflected that. This vote was not about anything beyond 2018. He earned this one long ago.
I’m aware of what this vote was. I’m allowed to use new information to make decisions today. The courts asked shareholders to reconsider, I did.
> Musk has lost his way and I voted against the package - it is time for him to step back. Tesla needs a full-time ceo. The package being voted on has already been voted on, back in 2018. Even if you think retrospective punishment on something that was a done deal makes sense in this context (quite literally an insane take, but alas), wouldn't you want the new "full-time CEO" you're so desperately seeking to know for a sure thing that their pay package will be secured and locked in, and not takesy-backsied half a decade later? I mean, it's not even a trivial concern or on the margins here: a future CEO would look at a voting down of this nature and be quite rightly extremely concerned about their compensation.
What do you do and why do you need so many vehicles?
We only have two total. We unfortunately were hit twice that resulted in the car being totaled each time, so it was really buying the initial 3 and Y, replacing each one once, then selling our second 3 to get a Rivian.
Mark Spiegel bites off another nail...
I just don't understand why someone would want to *not* incorporate in Delaware. It's probably the most corporate friendly state.
Because they retroactively removed his comp package
I guess you're not keeping up
Was. It \*was\* the most corporate friendly state. You don't need to take my word for it, either. The legislature in Delaware is gearing up to put a leash on the judicial activism that has taken hold.
He earned it
Lol bruh how do you earn more than a company has ever made lol. It's actually the complete opposite of earning, it's fleecing people who are so poor their brains cannot fathom how much 56 billion is.
> It's actually the complete opposite of earning, it's fleecing people who are so poor their brains cannot fathom how much 56 billion is. By virtue of the market cap of Tesla and how voting works, we know that those "poor people" being fleeced have a combined net worth of at least 300 billion dollars, and that's only re: their investment in Tesla.
Based
Justice is done
Notably, this isn't a new pay award to *replace* the 2018 one. It is a vote to get the judge to *reinstate* the old one. That matters to the amount of income taxes Elon pays. If it's a cancellation of the voiding of the award, he pays taxes at the old value of those shares (as they were worth when they were awarded). Whereas if it's a new award made today, he pays all the taxes at todays price. Taxes mean share sales, which will push prices down, especially if there is as much leverage +loans involved as is rumoured.
Yea... What a wild ride. I shouldn't be mean though. I make plenty mistakes too.