My target depends upon their progress with 4G, LTE rollout and the potential sale of Spectrum to reduce/eliminate debt ... sadly, nobody appreciated this topic ... oh well, great day!
But if anyone is truly interested in old news, we can talk about how cool I was in high school ... just let me know
Personally, my favorite is the guy sucking up to him to post more ... here is a clue, management philosophy has clearly changed
Sorry Wilbur? Clearly, this is exactly what he wants ... together they will control 35% of the outstanding shares ... have them, who cares ... now let's see their plan
Do you know the best investment on Wall Street ... nope, not Google ... it's a Taxi Medallion ... a Taxi Medallion artificially restricts the number of cabs ... they are issued, controlled and regulated by the government ... introduced in the 1930s for $10 each they now sell for well over a million dollars each ... $1,000,000 to operate a single cab!
Now, does that sound famliar? It should ... because it is exactly like Spectrum ... which NIHD holds a lot of ... now, everybody in New York City knows that it is much smarter to borrow against your Medallion than sell it ... afterall, the value only goes up (so far) ... the Spectrum world is much the same way ... load debt against your Spectrum portfolio but don't sell ... never sell because it is limited, hard to attain, highly desirable, and always appreciates in value ... borrow, borrow, borrow but don't sell ... well, enough is enough for NIHD ... you have more Spectrum than you need ... 800 MHz is quickly turning into a very highly desirable Spectrum thanks to Sprints efforts in refarming for 4G, LTE ... 800 MHz penetrates a building in an urban setting better than any other Spectrum ... 800 MHz is better in rural settings as well (greater range) ... sell the 800 MHz and focus on the 4G, LTE rollout in Mexico and Brazil ... there, I said it ... sell Spectrum, it's time ... become debt free
So, I would "speculate" that he did not take the Special Tax 83(b) election because sadly he "knew" the stock price was going to fall and/or he did not have the "additional funds" to pay his taxes without selling stock ... in any case, he should be buying at these prices as the leader of the company ... definately not selling ... but, at the end of the day, it is his compensation (and his taxes)
Well, you're close j_smith ... but as I said before, the tax on RSUs is paid (normally) when they are awarded (see below if copy and paste works) ... I agree that we are all just speculating
Q. How long do I have to make an 83(b) election?
A. A Special Tax 83(b) election must be filed in writing with Internal Revenue Service (IRS) no later than 30 days after the date of the grant, and you must send a copy to your company.
Q. What are the potential advantages of taking a Special Tax 83(b) election?
A. There are several potential advantages with a Special Tax 83 (b) election:
Establish your cost basis now. By paying tax on your grant now, rather than when the shares vest, the current stock price will be established as the cost basis for the shares granted. When the shares do vest, no tax will be due until the shares are sold, regardless of how much the shares may have changed in value.
Control the timing of future income recognition. Gain (or loss) would be recognized only when the stock is actually sold and would not be triggered by the lapse of restrictions at vesting.
Capital gains treatment. Assuming the stock is held as a capital asset, future gains (or losses) would be taxed only as capital gains, and therefore would be subject to favorable capital gains tax rates.
Q. What are the potential disadvantages of taking a Special Tax 83(b) election?
A. There are several potential disadvantages to consider:
Falling share prices. If the stock price declined by the vesting date, there is a risk that you would pay more tax based on the fair market value on the grant date than you would be obligated to pay at vesting based on the fair market value of the stock at vesting.
Timing of tax payment. Since taxes are due when the award is granted, you must use other funds to pay the tax withholding obligation. Under normal tax treatment, you do not owe taxes until the grant vests, and you could potentially use some of the shares vesting to cover your tax withholding obligation.
Risk of forfeiture. If you forfeit your restricted stock award (e.g., by leaving the company before the stock vests), you would not be entitled to any loss for tax purposes with respect to the restricted stock award. Additionally, you would not be able to receive any refunds on the tax paid on your restricted stock award.
Hey quantuon maybe I made my drink too stiff ... can you give me your interpretation of the following statement from the presentation and how it fits into your example. tia
PV-10 is calculated but EXCO is not buying at PV-10; we are paying 1.2x (EXCO expects to pay less than PV-10) invested drilling capital and sharing excess profits beyond that amount
Agree ... he should not have sold at this price ... very bad signal ... on the other hand, if he is not clueless he would of paid taxes on restricted stock in the year awarded in order to claim a Section 83(b) election ... that way he pays his regular tax rate that year and only a capital gains rate when he sells years later ... without 83(b) he pays a regular tax rate on all gains when he sells (assuming he has gains) ... of course, this applies to a share price that gradually rises over time ... in retrospect, he may have done the right thing, eh?
If he sold for tax purposes, it is most likely to pay taxes on any restricted stock awarded (not vested) in 2013
Footnote on the Form 4 includes vesting schedule for all shares not already vested (if you were asking me for that)
Actually only approximately 260,000 shares not vested yet ... he could of sold a lot more ... probably Christmas shopping and taxes ... still, he is a loser and I am also not happy about it ... but, it's his life
Wow! Seems like great research ... unfortunately, I'm at the mall Christmas shopping ... I'm going to have to pour a stiff drink later and study what you've done here ... regardless, thanks for the extreme effort (seriously)
Nobody important unloaded at $2 with no pending default and a recent upgrade ... institutions often have long and short positions ... they will sell shares (or naked short) to get the momentum they desire to fill the order they have been "contracted" to fill ... market makers can create illusions to develop the market they need on any given day ... imho, it was all short covering