InfoSpace (INSP): Where GNET went! Message Board

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Technology Stocks : InfoSpace (INSP): Where GNET went!

INSP 131.97

+12.6%

11:11 AM EST

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To: bosquedog who wrote (25225)	2/20/2001 12:00:17 PM
From: Bosco	Read Replies (1) of 28311

Hi bd - yes, the merger itself is a tax free transaction. I don't know what's on the yahoo! poster's mind. However, the exercise of option is not [tax free] When the insiders exercise their options, the differential between the exercise price and the mkt price [surely it is a positive number <g>] will be taxed. Major corporations have this down to a science by immediately withholding the tax portion by either 1) receiving a tax payment from the employee or 2) getting the authorization to sell the portion of the stk immediately to pay for taxes. Smaller company HR depts may or may not do this. If they don't, they need to pay the tax from their pocket. With the falling stk, they will need to unwind the position to claim tax loss to counteract the gain. A story about a cofounder of a dot done who held a sizeable portion of a broken stk. The twist is that it was restricted. He ended up quitting the job to unrestrict the sale. I reckon it is not the case with the former GNET officers. best, Bosco

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