Facebook CEO Mark Zuckerberg reaped a gain of nearly $2.3 billion last year when he exercised 60 million stock options just before the online social networking leader’s initial public offering.
San Francisco’s Mayor has signed a tax break for start ups to go public into law and now one tech company is taking him up on his offer.
Mayor Ed Lee is expected to sign legislation on Friday that would give companies such as Zynga and Yelp a partial tax exclusion on stock options.
San Francisco’s Mayor Ed Lee said he will sign a measure to extend tax relief to growing companies that offer stock options to keep them in the city.
A new controller’s report says eliminating San Francisco’s payroll tax on stock options would cost the city up to $75,000 a year in future revenue.
Google Inc. has awarded $100 million worth of equity to Eric Schmidt, who is stepping aside as CEO but will stay with the company as executive chairman.