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by dschnurr
2241 days ago
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going public at any point after nov '19 probably would have been a disaster for most employees due to lockup period. Let's say I have $1M of RSUs at IPO – fed+state gov wants 450-500k for taxes total. When I went through Uber IPO they only withheld ~30%, which leads to a $200k tax bill at the end of the year in this scenario. If stock declines 75% due to COVID before I can sell at expiration of lockup period, I'm left with $175k ($700k post-withholding * 25%) and $200k tax bill. Not sure about you but I'd prefer the non-IPO scenario. |
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