Friday, November 21, 2008

EMCORE Corporation Launches Tender Offer to Fix Employee Stock Options Subject to 409A

"As a result of the Company's previously announced voluntary inquiry into its historical stock option granting practices, which was concluded in 2006, the Company determined that an incorrect grant date was used in the granting certain options. As a result, the options were granted at an exercise price below the fair market value of the Company's common stock as of the correct date of grant. Consequently, employees holding these options face a potential tax liability under Section 409A of the Internal Revenue Code and similar sections of certain state tax codes, unless remedial action is taken to adjust the exercise price of these options prior to December 31, 2008."

EMCORE Press Release

Tender Offer

Monday, November 10, 2008

409A Valuation Calculator From VC

"With the launch of the new 409A calculator, companies can now calculate their stock option prices so that they meet the requirements under Internal Revenue Code Section 409A. The 409A calculator was designed to provide a comprehensive list of "comparable" companies (i.e. similar companies based on industry, valuation and/or geography) and to assist in offsetting the rising cost of outside consultants and auditors as the company CFO's determine fair value."

Press Release


Thursday, November 6, 2008

Coming Soon to Theaters - Documentary "An Inconvenient Tax"

I received this email from the producer of an upcoming documentary about taxes and tax reform. I thought some might enjoy the movie trailer which is linked below.

Hello, this is Nathan Padgett with Life Is My Movie Entertainment. I'm writing to let you know about the upcoming feature length documentary about taxes and tax reform, "An Inconvenient Tax".

This film sheds light on one of America’s messiest problems — a fundamentally broken tax code that affects every part of people's lives. With the U.S. Congress making over 16,000 changes to the tax code in the last two decades alone, many Americans want something better, but few know where to start. This feature-length documentary film reveals the many ways Congress uses the tax code to achieve political goals that have nothing to do with raising revenue. It also tackles the controversial issue of tax reform through a non-partisan presentation of U.S. tax history and current proposals to fix the code. In a time when America faces fiscal crisis, An Inconvenient Tax brings a crucial exploration of the tax code to the big screen.

We know that the subject matter within this film is a hot topic for your viewers and all Americans alike. While we have yet to begin our major marketing campaign, we are currently contacting specific tax and accounting outlets in hopes that they will be willing to inform their viewers of the film's newly redesigned website and possibly showcase the teaser. I'm including links to the website, press packet, and the teaser.

Feel free to contact us if you have any questions or comments about the film. 770-881-7500 ext: 2

Thank you for your interest in our film. Now sit back, relax and enjoy the show,
Nathan Padgett


Press Packet:

Film Teaser:

Nathan Padgett

[o] 770-881-7500 ext: 714
[f] 678-748-3106
[c] 404-405-1617

440 South Perry Street Suite #8
Lawrenceville, Georgia 30045

Monday, November 3, 2008

409A Video Clip - Brief Summary From BNA

Not much information, but this is the first (and only?) YouTube offering relating to 409A.