Joseph received 5,000 shares of restricted (common) stock from his employer on July 1, 2013. The terms of the restricted stock grant are such that if Joseph is still employed by Alternative Energy on July 1, 2018 the entire SOOO shares will vest and become his property. Joseph, upon the advice of his tax advisor, prepared and filed an IRC Section 83(b) election on July 8, 2013. On July 1, 2013, shares were valued at SS per share Joseph estimates the value of the shares in five years will be at least SISO per share. Joseph notified Alternative Energy about the IRC Section 83(b) election in a timely manner. None of the income tax consequences of this