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Source: U.S. Code supplied Markdown snapshot · 26 U.S.C. § 425
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Source file: Laws/federal/codes/united-states-code/title-26/section-425-renumbered-424--b2363c3a88.md
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Source location: Laws/federal/codes/united-states-code/title-26/section-425-renumbered-424--b2363c3a88.md#record-record-usc-81cbff2ebbcfa59b454adc3b
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Federal law — U.S. Code and appendices · legal_authorities
**(a) Corporate reorganizations, liquidations, etc.** For purposes of this part, the term “issuing or assuming a stock option in a transaction to which section 424(a) applies” means a substitution of a new option for the old option, or an assumption of the old option, by an employer corporation, or a parent or subsidiary of such corporation, by reason of a corporate merger, consolidation, acquisition of property or stock, separation, reorganization, or liquidation, if— (1) the excess of the aggregate fair market value of the shares subject to the option immediately after the substitution or assumption over the aggregate option price of such shares is not more than the excess of the aggregate fair market value of all shares subject to the option immediately before such substitution or assumption over the aggregate option price of such shares, and (2) the new option or the assumption of the old option does not give the employee additional benefits which he did not have under the old option. For purposes of this subsection, the parent-subsidiary relationship shall be determined at the time of any such transaction under this subsection. **(b) Acquisition of new stock** For purposes of this part, if stock is received by an individual in a distribution to which section 305, 354, 355, 356, or 1036 (or so much of section 1031 as relates to section 1036) applies, and such distribution was made with respect to stock transferred to him upon his exercise of the option, such stock shall be considered as having been transferred to him on his exercise of such option. A similar rule shall be applied in the case of a series of such distributions. **(c) Disposition** (1) **In general** — Except as provided in paragraphs (2), (3), and (4), for purposes of this part, the term “disposi
Source: Supplied U.S. Code snapshot — release unconfirmed · 26 U.S.C. § 424
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Federal law — U.S. Code and appendices · legal_authorities
Page 1484 TITLE 26—INTERNAL REVENUE CODE [§ 425 94–455, title VI, § 603(c), title XIV, § 1402(b)(1)(F), (2), Oct. 4, 1976, 90 Stat. 1574, 1732, related to restricted stock op- tions, prior to repeal by Pub. L. 101–508, title XI, § 11801(a)(21), Nov. 5, 1990, 104 Stat. 1388–521. For savings provisions, see section 11821(b) of Pub. L. 101–508, set out as a note under section 45K of this title. AMENDMENTS 2018—Subsec. (g). Pub. L. 115–141 substituted ‘‘sec- tions 422(a)(2)’’ for ‘‘section 422(a)(2)’’. 1996—Subsec. (c)(3)(B). Pub. L. 104–188 substituted ‘‘an incentive stock option or an option granted under an employee stock purchase plan’’ for ‘‘a qualified stock option, an incentive stock option, an option granted under an employee stock purchase plan, or a restricted stock option’’. 1990—Pub. L. 101–508, § 11801(c)(9)(A)(i), renumbered section 425 of this title as this section. Subsec. (a). Pub. L. 101–508, § 11801(c)(9)(F)(i), sub- stituted ‘‘424(a)’’ for ‘‘425(a)’’. Subsec. (c)(3)(A)(ii). Pub. L. 101–508, § 11801(c)(9)(F)(ii), substituted ‘‘422(a)(1) or 423(a)(1)’’ for ‘‘422(a)(1), 422A(a)(1), 423(a)(1), or 424(a)(1)’’. Subsec. (d). Pub. L. 101–508, § 11801(c)(9)(F)(iii), sub- stituted ‘‘422(b)(6) and 423(b)(3)’’ for ‘‘422(b)(7), 422A(b)(6), 423(b)(3), and 424(b)(3)’’. Subsec. (g). Pub. L. 101–508, § 11801(c)(9)(F)(iv), sub- stituted ‘‘422(a)(2) and 423(a)(2)’’ for ‘‘422(a)(2), 422A(a)(2), 423(a)(2), and 424(a)(2)’’ and ‘‘424(a)’’ for ‘‘425(a)’’. Subsec. (h)(2). Pub. L. 101–508, § 11801(c)(9)(F)(v)(I), added par. (2) and struck out former par. (2) which re- lated to special rules for sections 423 and 424 options and to an exception that such rules would not apply with respect to a modification, extension or renewal of a restri
Source: Supplied 2024 U.S. Code historical extraction · 26 U.S.C. § 425
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