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Hybrids & more · Rules & mechanics
How the grant actually works, step by step.
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How SARs and phantom stock work
SARs and phantom stock pay you cash that tracks the share price without making you buy a single share. Both feel like equity right up until the tax bill, which looks nothing like equity.
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Secondary sales and tender offers for private shares
How employees turn private stock into cash before an IPO, what the price really means, what it taxes, and how much you should actually sell.
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