Congrats on your IPO. ๐ This must be a very exciting time for you. Itโs an exciting time for everyone in this space. ๐
Are any of you concerned that if LYFT continues to dip before the end of the lock-up period, then you might have a tax bill in excess of your personal proceeds from the IPO? Is your HR/leadership doing anything to calm such concerns?
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You also referred to double triggers: the first trigger is time, the second trigger is a liquidity event for the company (not for you). There is no third trigger for end of lock up.
Please read Treas. Reg. section 1.83-3(b).
Your argument is essentially equivalent to claiming that if you work for a public company and have RSUโs vest but are outside a trading window, you donโt have a tax burden until you can trade. This is obviously untrue as well. Personal liquidity of the shares is irrelevant.