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> Assume the stock grant was 48,000 if you have after the day after you completed 12 months, you get to keep 12,000 shares not 24,000.

I meant that if the other shareholder also only has 12,000 at that point, that's 50%.

> In terms of taxes, you have to file an “83b election” with the IRS to prevent being liable for “paper wealth” that’s not really cash.

> Technically you are granted all 48,000 shares at a nominal value like .00001 and the company has the automatic right to buy back the shares you do not vest at that same nominal value.

I see, and I guess that explains the first issue too.

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