- 4 - The first stock option transaction took place on February 25, 2002. Petitioner directed Morgan Stanley to exercise options and sell the acquired stock for options that had been granted to him on December 6, 1994 (939 shares), December 9, 1997 (1,078 shares), and December 8, 1998 (2,346 shares). Fluor provided to petitioner an accounting of the February 25, 2002, transaction entitled "Computation Worksheet for Non-Qualified Stock Option Exercise for Shares". The worksheet recorded that the option exercise resulted in the acquisition of the aforementioned 4,363 shares at a cost of $102,968.11 and their sale at a $165,367.70 fair market value on the exercise date. The difference, $62,399.59, was recorded by Fluor on the worksheet as the "wage element" of the transaction. Fluor withheld amounts for Federal and State income and employment taxes from petitioner's $62,399.59 proceeds. The second stock option transaction took place on July 10, 2002. Petitioner directed Morgan Stanley to exercise options and sell the acquired stock for options that had been granted to him on September 11, 1995 (1,078 shares) and December 8, 1998 (783 shares). Fluor provided to petitioner an accounting of the July 10, 2002, transaction also entitled "Computation Worksheet for Non-Qualified Stock Option Exercise for Shares". The worksheet recorded that the option exercise resulted in the acquisition of the aforementioned 1,861 shares at a cost of $55,946.43 and theirPage: Previous 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 Next
Last modified: May 25, 2011