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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Dan B. who wrote (466333)	9/29/2003 2:53:15 AM
From: Kevin Rose	Respond to of 769670

Yes, I do know the difference between stock and options. I even know the difference between ISO and non-quals. He could easily have sold with a same-day sale, at least the portion that was vested, and surrendered the rest. As far as the trust, it depends on what type is it. Some trusts pay an annual amount, then pass the principle onto the charity when the person dies. Others pay an annual amount to a charity, then pass the principle onto heirs without estate taxes. To say that Cheney derives no tax benefit is questionable; do they mean he doesn't EVER have any tax benefit, or just not right now? Important details that should be disclosed to clear things up. Another issue is with the vesting. Stock options expire some time after you leave the company, typically 90 days for average workers (at that point, by law, ISOs automatically change to non-quals). Sometimes you'll see a sweetheart deal of a year. But a 4-6 year vesting past the termination date is very unusual, and highly beneficial to the recipient. I believe the tax issue statement is what Lautenberg meant by not making sense, as in not jibing with how charitable trusts work. I'm sure we'll get more details from Vice President Cheney, as he is a very forthcoming individual. I have no problem with the deferred income; he won the lottery, and choose the yearly payments instead of the lump sum.