XpresSpa Group Inc (XSPA)

[postyle]

Why is it so hard to believe? They are required to do so.

Under the RESTRICTED STOCK UNIT AGREEMENT -INCORPORATED TERMS AND CONDITIONS for VRNG, it reads:

8. Tax Liability of the Participant and Payment of Taxes... the Participant agrees that if under applicable law the Participant will owe taxes at each vesting date on the portion of the Award then vested the Company shall be entitled to immediate payment from the Participant of the amount of any tax required to be withheld by the Company. Any taxes or other amounts required to be withheld by the Company by applicable law or regulation shall be paid, at the option of the Company as follows:

(a) through reducing the number of shares of Common Stock entitled to be issued to the Participant on the applicable vesting date in an amount equal to the statutory minimum of the Participant’s total tax and other withholding obligations due and payable by the Company...

(b) requiring the Participant to deposit with the Company an amount of cash equal to the amount determined by the Company to be required to be withheld with respect to the statutory minimum amount of the Participant’s total tax and other withholding obligations due and payable by the Company or otherwise withholding from the Participant’s paycheck an amount equal to such amounts due and payable by the Company...


So they either have to sell off enough in their plans to cover the tax liability or come up with cash to cover the taxes. Pretty much a no-brainer that they will sell an appropriate number of holdings to pay taxes on the total number of holdings being received.

Hasn't this been covered a dozen times now?