About Taxes When exercising mutual fund options, awardees will have to pay federal income taxes, state income taxes, and Medicare taxes, and possibly FICA, at the then-current tax rates on the fair market value of shares less the exercise price. You should consult your own tax adviser about the tax consequences of this program. A. September 1 through August 31. Under the Plan provisions, the grant of options under the Plan should not affect awardees' taxable income until the options are exercised. Awardees may want to consider changing withholding elections in the year that options are exercised.
Tax advisors can provide specific information and advice.
The assets of this Plan remain with the University. The assets are subject to the claims of creditors of the University. The University will require that the fund prospectus be made available upon request. A. Awardees will be immediately vested in the options on the grant date. A. Mutual fund options may be exercised the day following the day of the grant.