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Re:Do the math on your stock options by AndrewKemendo on Thursday December 31, 2015 @05:09PM (#10819978)
There is no underwater because employees don't pay anything for their shares.

So there's still risk of owing tax on equity worth less than the current valuation at the time of their offer, right?

Nope. Because of the 83b election, they pay no tax as the shares vest and pay no tax until they sell their shares.

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