I have a question: I am receiving stock (not options) in a publicly traded company for part of my compensation in a project. I believe that is considered by the SEC to be restricted stock, so to sell it I will need to follow Rule 144.

However, as I understand it, from the perspective of the IRS, it is no restricted as it is an outright stock grant with no vesting or other such provisions.

So, given the above, let me lay out a scenario:

I earn 100 shares of the stock at a rate of $1/share. On the day that I invoice for this stock, it is worth $1.50/share. After six months, when I am able to sell the stock, I sell it at $2/share.

As best I understand it, under section 83(a), I have to report the full $1.50 as income on the day I receive it. Section 83(b) does not apply as it is not restricted stock from the perspective of the IRS. As such, when I sell the stock at $2, it is taxed as capital gains.

Is my understanding correct?