Joint Committee, "Employee Stock Option Amendments", 3 September 2019 Joint Committee Letter

Summary Under

effective date/different employer and issuer/successor rules

Both (i) the denial of the s. 110(1)(d) deduction for benefits respecting “non-qualified securities” and (ii) the granting of a corresponding...

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Summary Under

reference to reasonably foreseeable timing/pro rata vesting

Para. (a) of the vesting year definition should refer to an event the timing of which is not reasonably foreseeable.
Para. (b) of the vesting...

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Summary Under

exclude non-qualified securities/exclusion of under-water securities or where options cancelled

It is inappropriate for D(ii) of the formula to include the FMV of securities to be issued under earlier options where they were non-qualified...

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Summary Under

same-day notice requirement - impracticable

Requiring same-day written notification (in para. (a)) can be impracticable – at least 30 days should be allowed.
Re para. (b), non-residents...

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