Yeah, but those taxes are based on the value of the shares today ($1.5m) minus what it'll cost him ($4k).
Even though he's not actually profiting on that difference yet, you still usually owe taxes on it. So we're talking hundreds of thousands of dollars in taxes.
LOL, no, taxes on today’s valuation are only due when you sell. And that would be very low long term capital gains tax. Albeit in this case the writer is not American so the tax situation might differ.
Sad story but the author did not show sound judgement even on the way out. Very foolish to throw away money by allowing options with a significant premium expire.
For anyone else in this position, there are companies that will purchase the options immediately and give you liquidity. Yes they charge a significant fee for the service but at least you get something.