Remember, the part of the bonus used to buy the stock comes right back to the company, it's just one pocket to the other. The tax piece is out the door (and is

Remember, the part of the bonus used to buy the stock comes right back to the company, it's just one pocket to the other. The tax piece is out the door (and is mostly a dead-weight loss if the company doesn't make it, one of the rationales behind options.)