Posted on 14/05/05
Beware options in private companies
Two weeks ago, a woman we'll call Nancy approached me with a problem. She had been an employee at a privately held company, which we'll call XYZ Inc. Last year, Nancy found a new job. Before leaving, she exercised her stock options in XYZ and acquired shares in the company for a total cost of $35,000. At the time, those XYZ shares were worth $40,000. So, Nancy made a profit of $5,000 -- not a lot, but better than a kick in the pants -- or so she thought.
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