12/15/99: The National Center for Employee Ownership's latest Employee Ownership Update discusses proposed legislation on compensatory stock options, the state of United Airlines' ESOP, and a judgment requiring three executives of Computer Associates to repay up to $558 million from the exercise of stock options. Excerpt:
Rep. John Boehner (R-OH) has introduced legislation
(HR 3462) that would combine the personal tax
treatment of incentive stock option plans with the
corporate tax treatment of nonqualified stock
options for companies that provide options to at
least 50% of their non-highly compensated full-time
workers who have worked for the company for at least
two years. Provided employees under the plan hold
their shares at least two years from grant and one
year from exercise, they would pay no tax until the
shares are sold and then pay only capital gains tax
on sale.
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