Tom Recently Received 2,000 Shares of Restricted Stock from His

question 69

Multiple Choice

Tom recently received 2,000 shares of restricted stock from his employer, Independence Corporation, when the share price was $10 per share. Tom's restricted shares vested three years later when the market price was $14. Tom held the shares for a little more than a year and sold them when the market price was $20. What is the amount of Tom's income or loss on the vesting date?

• A)$0
• B)$10,000
• C)$20,000
• D)$28,000

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Definitions:

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