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Tax Lawyer, Vol. 57, No. 1 RESTRICTED STOCK NOTES 61 61 RESTRICTED STOCK NOTES David W. Mayo* The 1990s saw an increasing use of equity-based compensation, most notably among dot com and other technology companies where stock options were seen as the path to quick riches at no cash cost to the issuer. Along with the increased use of equity-based compensation came increased efforts to avoid the principal downside of stock options—the realization of ordinary income on exercise— through the use of...

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